CoPilot is a simple, cost-effective solution with all the plan features that make it easy for you and your employees to save for retirement. Count on us to help keep your plan compliant and to deliver high levels of service and support, including proactive notifications to support plan administration. Plan features of the CoPilot 401(k) include:
Low cost, value-focused plan design
Full-service administration
3(38) investment manager
Managed account required
Automatic increase required
Automatic enrollment required
Financial Wellness program
Online plan setup
Participant education support
Plan health reporting
Compliance testing
MyForecast for participants
To learn more about the plan design features and options available with the CoPilot 401(k) plan, download the CoPilot for Plan Sponsors Overview.
CoPilot includes professionally managed investment portfolios that protect you, the plan sponsor. There are thousands of investments to choose from—and as a small business owner, you can't be an expert on all of them. With CoPilot, you don't have to be.
CoPilot 401(k) plans include professionally managed investment lineups from Wilshire Associates, which has extensive processes and resources dedicated to helping participants achieve better investment outcomes. There are two fee-based, low-cost investment lineups: Passive and Hybrid. Both can be used with or without a financial advisor.
If you are working with a financial advisor, both the CoPilot Passive and Hybrid lineups are available, in addition to two commission-based lineups. Talk with your advisor about which lineup best algins with your plan's goals.
As a small business owner that is considering a CoPilot 401(k) plan, you have a few different investment lineup options to choose from. As the plan sponsor, understanding the differences between the lineups can help you align the goal of the plan with the correct investment lineup.
|
Investment Goal |
CoPilot Passive Lineup |
CoPilot Hybrid Lineup |
|
Overall expense ratio |
Lowest cost option |
Low cost option* |
|
How funds are managed |
Passively |
Active (managed by professional portfolio manager) and Passively |
|
Fund benchmark performance |
Track with their benchmark and has little potential to outperform their benchmark |
Potential to outperform their benchmark with risk to underperform their benchmark |
*Compared to comission-based investment lineups
CoPilot retirement plans are designed for small businesses that want a cost-effective and simple 401(k) solution backed by reliable support.
| Employer Base Fee | $125/month |
| One time costs | |
| Implementation Fee | $500 |
| Employee fees | |
| Monthly Recordkeeping | $4/participant |
| Annual Custodial and Trading* | 0.07% |
| Annual Investment Fiduciary* | 0.25% |
|
*Fees are shown in annual terms but are deducted monthly. As of 07/01/2023 |
|
The participant pricing examples below are for illustrative purposes only to demonstrate how the asset-based employee fees listed above would translate into deductions from a participant's account.
| $10K Account Balance |
$25K Account Balance |
$50K Account Balance |
|||||
| Recordkeeping | $4.00/mo | Recordkeeping | $4.00/mo | Recordkeeping | $4.00/mo | ||
| Custodial & Trading | $0.58/mo | Custodial & Trading | $1.46/mo | Custodial & Trading | $2.92/mo | ||
| Investment Fiduciary | $2.08/mo | Investment Fiduciary | $5.21/mo | Investment Fiduciary | $10.42/mo | ||
| Total Cost** $6.67/mo |
Total Cost** $10.67/mo |
Total Cost** $17.33/mo |
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** Total cost doesn’t include the investment expenses or any applicable financial advisor service fees. The total cost amount doesn’t represent any specific participant. The actual calculations are determined by an individual's account balance.
Offering a 401(k) plan with an employer match can help a small or mid-size company stand out from the competition and incentivize exceptional candidates to accept a job offer. In addition, business owners can benefit from a variety of tax advantages when they choose to sponsor a 401(k) plan:
