By join the RI Hospitality Association 401k program you can offer your employees a 401k program designed specifically for the hospitality industry. Reduced plan administration workload & no cost to the company so you can focus on your business while your employees can plan for their future.
- Customized Plan Design: Keep your current plan provisions or make changes. You decide when employees become eligible, if a match is offered or not, and more! Fully customizable based on your business needs.
- Simplified Administration: Most administration tasks are handled by the RI Hospitality Association and 3rd party service providers take on the administrative & investment fiduciary liability. This frees up your time to focus on your business.
- No cost to the company: This is a RIHA membership benefit, so there are no monthly or annual costs for your company.
- Reduced Fees for employees: No hard dollar costs for the company to offer the plan. By being part of the RIHA the fees are scaled based on the size of your plan. As the overall plan grows, everyone’s fees are reduced.
- No Annual Audit Required: For companies that have over 100 eligible employees an annual 401k audit is required. Under the RIHA 401k program the Association does the audit that covers everyone. This is a huge time & cost savings every year.