• Staff Turnover Reduction

• Executive Bonus Plans

• Pension-like Income for Employees

• Company Float Strategies

• Superior 529 Alternatives

• Liability Reduction Plans

• TPA Cost Elimination

• Work Offloading Products

• Low Cost & High Performing 401k-like Plans

• Become your own Bank

• Sector-wide Low Audit Cost Markets

• Compliance Liability Elimination Strategies

1. We have an exclusive employer-sponsored retirement plan that assumes your liability and takes on nearly all compliance requirements. We can make small to medium-sized companies similar to huge companies like Coca-Cola. 

2. Our exclusive product occupies a massive 50% of the premium in the pooling space, allowing cost savings to be passed on to our clients. It is likely your net fees will not exceed 1% (often much lower).

3. Your staff will legally offload 90%+ of compliance at no additional cost (typically $20K-$60K/year). Your overhead and liability will decrease significantly.

4. More importantly, your staff will be free to concentrate on other tasks that make and save your organization money.

5. Our clients are put at ease by having easy access to our team, this directly results in a more productive and happier workplace culture. Even more impactful, we bring additional products that create pension-like cash flow for your employees retirement they never though they could have. Less turnover, hope, and the dream for retirement is more of a possibility with WCSG. Happy and hopeful employees always lead to more productivity.

In closing, we ensure that the transition to our plan is as smooth and hassle-free as possible.

• Asset-based pricing is lowest in industry (85 basis points for smallest amounts is our maximum charge….most exceed this by 15-50%)

• 3 (16) Administrative Fiduciary typically costs around $2,000, WCSG charges $0

• Third Party Administrator (like a CPA for 401ks) costs are typically around $3,000 (we charge zero)

• WCSG 3 (38) Investment Manager is specifically designed to push pricing down as a percentage as the contributions increase and their billion dollar pool increases

• When you understand that you will take nearly all of the responsibilities off of your in-house bookkeeping or controller, WCSG saves you money because they can spend their time looking at other pieces of your business to save money.

Other competitors can move the shells around on prospects and clients in this area, but if given the chance to defend our strategies, we very rarely lose in this arena.

By transitioning to our 401k program, employees will also receive access to our FIA and IUL products. These products can provide your employees with pension-like income for life. We can also approximate annual cash flow in retirement with a higher degree of accuracy than 401k-like plans due to the fact that they protect you from all downside loss. FIAs and IULs have also historically provided inventors with significantly higher annual returns than the average 401k plan. The security and reliability of these products also encourage your employees to contribute a larger portion of their savings compared to 401k-like plans. As a byproduct, your company's turnover, costs and liability are drastically reduced.

Saving $20-$30,000 a year in admin costs alone pleases our clients, but the costs associated with overwhelmed staff, compromised compliance, and liability exposure can cost companies in the hundreds of thousands yearly. The good news is that any governmental inquiries or legal questioning is handled and pre-packaged under the liability (our team has you covered under 402 (a), Signatory Named Fiduciary) of our partners. The peace of mind having compliance standards handled similarly to behemoths like Coca-Cola is reassuring. We help your benefits admin and strategy look like a Fortune 500 company.

First of all, if the costs are lower, it is a higher performing plan for the company. In this regard, the answer is “Yes.” Regarding the employee’s ability to make better returns, this particular market has historically produced top 10% returns. What’s important to note is that when comparing performance, know that WCSG has technologies that can compare your plan to other comparable plans and grade you accordingly for transparency. Stating the obvious, but having high performing plans makes employees happier, they turn over less, and they are more productive. Note that WCSG can customize vesting, safe harbor terms, etc., based on what you need and doing these things can lower your costs further. Some companies think it’s worth it, others do not. We go over these costs and benefits with your staff and employees.

The number one concern of every employee is whether or not they will out live their retirement. This said, when they have a higher returning 401k or exceptional alternatives we offer, they have hope and are more likely to not out live their retirement. When you show an employee historical figures that they can receive $2500 a month in retirement, they will find the $200+ more a month than they were contributing to their 401k. They will work a little longer, find a side hustle or spend less when they can see a pathway to retirement. That employee is going to be happier and more productive for your company because they can see a brighter future. Employees need inspiration and WCSG brings that. Often times we hear employers say their staff's are never going to contribute more… that they just don’t save. Data says just the opposite. They not only save more, they save a lot more. You want employees at peace for the culture and productivity of your company.

It is important to note that our partners were the first to begin pooling assets in this sector and occupy 50% of the entire market in this space. This massive market share provides cost and administrative economies of scale that are passed on to you in order to acquire your benefits business.

Administrative Benefits of CalSavers

1. Automatic Enrollment: CalSavers is mandatory for employers in California that don't offer a retirement plan. Employees are automatically enrolled, making it easier for those who might not otherwise save for retirement.

2. Low Administrative Burden: CalSavers is easy for employers to set up and manage, with minimal paperwork and no fiduciary responsibility.

3. Access for All Workers: CalSavers is available to all workers, including part-time and temporary employees, ensuring broader access to retirement savings.

4. Portability: The account stays with the employee, meaning they can take it with them if they change jobs.

Administrative Disadvantages of CalSavers

1. Limited Investment Options: CalSavers offers fewer investment options compared to most 401(k) plans, which may limit the ability to customize an investment strategy.

2. Contribution Limits: CalSavers contributions are limited to the same limits as IRAs, which are lower than 401(k) contribution limits. For 2024, the IRA contribution limit is $7,000 (or $7,500 if age 50 or older), compared to $23,000 for a 401(k) ($30,000 if age 50 or older).

3. No Employer Matching: CalSavers does not allow for employer matching contributions, which can be a significant advantage of many 401(k) plans.

4. Potential Fees: While fees are generally low, they can still impact the overall growth of savings, especially in a program with limited investment choices.

5. State-Specific: CalSavers is only available in California, so if you move out of state, you may need to roll over your savings to another plan.

6. Penalties for Non-Compliance: Penalty of $250 per eligible employee if noncompliance extends 90 days or more after the notice, and if found to be in noncompliance 180 days or more after the notice, an additional penalty of $500 per eligible employee.

Benefits of CalSavers 401(k) Plans to Employees

1. Employer Matching: Many employers offer matching contributions to a 401(k), which can significantly boost retirement savings.

2. Higher Contribution Limits: 401(k) plans allow for much higher annual contributions compared to CalSavers. In 2024, the limit is $23,000 (or $30,000 if age 50 or older).

3. Broader Investment Options: 401(k) plans often offer a wider range of investment options, including mutual funds, stocks, and bonds, allowing for more personalized investment strategies.

4. Tax Advantages: Contributions to a traditional 401(k) are made pre-tax, which can lower your taxable income. Alternatively, Roth 401(k) contributions are made after-tax but allow for tax-free withdrawals in retirement.

5. Tax Credits: Significant tax credits for small businesses who start a 401K plan, Secure Act 2.0: up to $5,000 a year for 3 years, then $500 a year for 3 years when they add auto-enroll (all new plans will need to be auto-enroll anyway)

6. Loan Provisions: Some 401(k) plans allow participants to take loans against their balance, providing flexibility in case of emergencies.

Disadvantages of CalSavers 401(k) Plans

1. Administrative Complexity: 401(k) plans can be complex to administer, with significant regulatory requirements and fiduciary responsibilities for employers.  This means more expensive now or later.

2. Potential for Higher Fees: Depending on the plan, 401(k) fees can be higher than those of CalSavers, particularly if the plan offers more complex investment options.

3. Participation Requirements: Some 401(k) plans have waiting periods before employees can participate, and part-time workers might not be eligible.

4. Inflexibility in Withdrawal: 401(k) plans typically have strict rules regarding withdrawals before retirement age, which can lead to penalties and taxes if funds are accessed early.

Here’s the part where we list the 90% of all compliance requirements taken off the hands of your staff.

• 3(38) Investment Manager Appointment

• 402(g) Limit Reporting

• 404(a)(5) Notice Distribution

• 404(c) Notice Distribution

• 408(b)(2) Notice Distribution

• Annual Discrimination & Coverage Testing

• Annual Fee Negotiations With Vendors

• Audit Completion Support

• Audit Firm Hiring & Monitoring

• Auto Enrollment Notice Distribution

• Beneficiary Designation Form Maintenance

• Beneficiary Determinations

• Blackout Notice Distribution

• Census Review

• Corrective Distributions

• Death Benefit Approval

• Distribution Reporting

• DOL and IRS Issue Resolution Assistance

• Eligibility Calculations

• Eligibility Notifications

• Employee Contract Monitoring

• ERISA Bond Review ion

• Error Correction Monitoring

• Fiduciary Insurance Coverage Review

• Force Out Processing

• Form 5330 Preparation

• Form 5500 Preparation, Signing, & Filing

• Form 8955 Preparation, Signing, & Filing

• Fund Change Notice Distribution

• Hardship Withdrawal Approval

• Loan Approval & Reporting

• Loan Default Monitoring

• Loan Policy Administration

• Lost Earnings Calculations

• Participant Enrollment Assistance

• Payroll Aggregation

• Payroll File Aggregation

• Plan Design Review

• Plan Document Interpretation

• Plan Document Preparation & Archiving

• Plan Irregularity Notification

• QDIA Notice Distribution

• QDRO Determinations & Reporting

• Quarterly Investment Review Meetings

• Rate Change Monitoring & Reporting

• Required Minimum Distributions

• Safe Harbor Notice Distribution

• SAR Production & Distribution

• SMM Notice Distribution

• SPD Production & Distribution

• Spousal Consent Approvals

• Termination Date Verification & Maintenance

• Termination Withdrawal Approval

• Trustee Duties

• Review & Process Payroll Files

• Vesting Verification & Tracking

• Year-End Data Collection & Review

If we boiled everything above down, our team is more experienced, has lowers costs, gives you less headaches, improves morale, improves productivity, cinches down almost all liabilities associated with retirement plans, gives you peace and most importantly, MAKES YOU COMPETITIVE in this part of your business.