Unmatched Value for the Participant

Inspira’s Automatic Rollover solution has the lowest net cost to the accountholder.

Why Automatic Rollover IRAs?

In today’s regulatory environment, erring on the side of the participant is always a good idea. When dealing with missing or terminated participants in your clients’ plans, TPAs and Recordkeepers are faced with three options:

  • Cashing out all balances under $1,000
  • Leaving the accounts in the plan
  • Using an Automatic Rollover provider

Based on our decade of experience in the IRA market, most TPAs and Recordkeepers have implemented a systematic process for removing terminated or missing participants, whether it’s monthly, quarterly or annually.

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Benefits of Automatic Rollovers IRAs

When you remove terminated or missing participants from your plan(s), you’re doing the right thing for your firm, your client AND the participant:

  • Eliminate missing participant-related administrative burden on your staff
  • Reduced retirement plan administration costs for your clients
  • Fiduciary risk and exposure is reduced for you and your clients
  • Participants gain control over investments while assets remain tax-deferred

Automatic Rollovers act as a show of good faith to your clients and the businesses they serve.

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The Inspira Automatic Rollover IRA solution

Inspira is the only default IRA provider that gives clients choice in a default investment, including the Lincoln Fixed Account with a GMIR of 1.00%. We are also the only IRA provider with a system designed to encourage diversification by Automatic Rollover accountholders. Inspira has provided the following benefits to more than 7,000 Plan Sponsors:

  • Highest-returning default fund in the industry (1.00% GMIR)
  • 30-plus mutual funds and TDFs screened by outside advisory firm
  • Lowest net accountholder expense of any automatic rollover provider
  • No cost to the provider or plan sponsor
  • Fully compliant with Safe Harbor regulations and EGTRRA

Inspira’s solution is designed to give the account holder all of the benefits of a voluntary rollover, despite their status as a forced out client. We keep the account’s best interest at the forefront.

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Additional Services offered by Inspira

Complete Plan Termination Solution

Inspira has worked on more than 600 Retirement Plan Terminations, including 401(k), 403(b) and 401(a) terminations. We have a proven process for rolling over accounts remaining in a terminated or abandoned plan, including those with balances of more than $5,000:

  • Fully compliant with DOL Field Assistance Bulletins 2004-02 and 2014-01
  • Start-to-finish consultation, including pre-termination
  • Assistance with participant notifications, forms and 402(f) notice
  • Partnership with Ascensus Trust to provide QTA services
  • Pre-termination participant searches to ensure higher success rate

Based on our experience, a typical plan termination takes 2-to-3 months. If your firm has already sent the appropriate notifications, that timeline can be cut down significantly.

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The Inspira Un-Cashed Check Solution

Inspira has a solution for uncashed and stale-dated checks that will keep you compliant, reduce your costs, and ensure a positive outcome for the missing participant. We will help you create a documented uncashed check procedure that alleviates your existing problem and all but eliminates uncashed checks in the future:

  • Rollover uncashed and stale-dated checks into IRAs
  • Invest IRA assets into a default investment with a GMIR of 1.00%
  • Comprehensive search efforts to locate the participant through multiple channels
  • Send a welcome kit, annual statement and Form 5498 to accountholder

Inspira’s uncashed check solution features a low annual fee that, when paired with the Lincoln Fixed Account as the default investment, provides accountholders with the lowest annual accountholder expense in the industry. Once an accountholder is located and notified, they can withdraw their funds online, continue contributing to the IRA and diversify, or roll the account into another retirement vehicle.

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Create your own Robo-Advisor with Inspira

Inspira’s RoboArchitect solution gives you unmatched flexibility in designing your IRA product. Let us put you on level-footing within the IRA market. Inspira handles all of the recordkeeping and compliance while giving you complete control over your product:

  • Open architecture platform lets you choose funds you trust
  • You set the fee schedule and compensation model
  • Customized RoboAdvice questionnaire with multiple question and value formats
  • Website and account portal with your logo and branding
  • Ability to incorporate your own custom client agreement
  • Inspira handles recordkeeping, statement delivery and tax documentation
  • Full-service call center to answer account-based questions

With your own digital advisor from RoboArchitect, you’ll open your firm to an entirely new market of young investors who prefer RoboAdvice. Inspira does the day-to-day work while you reap the profits on any IRA, regardless of account size.

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SIMPLE, SEP, & Payroll Deduction IRAs

State-Administered IRAs are being implemented in 2017 in states like California, Illinois and more. Inspira has a superior option for your clients or prospects that do not wish to have a state-run plan or deal with the costs, liability and administration of 401(k)s or other traditional retirement plans:

  • Turnkey solution for offering Payroll IRA Plans
  • Revenue shared to you from Employer fee and Employee account fees
  • Online account management with RoboAdvice from outside advisory firm
  • No cost to you to get started generating revenue from Payroll IRAs
  • Paperless plan establishment and account opening

Inspira will arm you with the marketing material and information you need to start taking advantage of the opportunity that state-run IRAs present to our industry.

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Outsourced IRA Recordkeeping & IRA Rollover Capture

At what account size does your firm cease to turn a profit? $100,000? $50,000? How many times have you had to say no to, or simply lost money on, accounts below that minimum? What if you could start profiting on all accounts, regardless of size? Inspira will help you create your own IRA product to do just that:

  • Private-labeling and full customization makes the product yours
  • Revenue shared to you from account fees
  • Inspira handles all recordkeeping and account servicing, including calls
  • Ability to create your own RoboAdvice piece
  • Open architecture platform allows for use of virtually any fund
  • Paperless plan establishment and account opening

Inspira makes it easy to start generating profit on all balances and potential rollovers through your own branded portal. We handle all the recordkeeping, trading and compliance while you continue to collect revenue doing what you already do.

Get Started Outsourcing IRAs with Inspira Today