The Future of Retirement

SEP, SIMPLE, and Payroll Deduction IRAs are rapidly becoming the preferred retirement plan options for many businesses.

Why offer SEP, SIMPLE & Payroll Deduction IRA

SEP, SIMPLE and Payroll Deduction IRAs are an easy, affordable way for a business to give their employees a retirement savings option. Traditional retirement plans like 401(k)s come with far more cost, administration, and regulatory oversight. SEP, SIMPLE and Payroll Deduction IRAs are:

  • More affordable for the employer than traditional retirement plans
  • Free of the fiduciary liability that 401(k) sponsors hold
  • Not subject to compliance testing and expensive audits
  • Employers are not required to match contributions

Add to all this the recent spike in 401(k)-fee related lawsuits, and it’s no surprise that businesses of all sizes – from 10 employees to 50,000 – are starting to make the transition to the painless world of Payroll IRAs.

Learn More About SEP, SIMPLE & Payroll Deduction IRAs

Payroll IRAs and State-Administered IRA programs

State-Administered IRAs are being implemented in eight states in 2017 - California, Illinois, Oregon, Washington, Massachusetts, Maryland, New Jersey and Connecticut. 24 others are attempting to do the same, along with three major cities. The intention of these plans – giving uncovered American workers a chance to save for retirement – is noble. However, their problems are many:

  • Poor plan design resulting from a lack of industry knowledge
  • Undesirable investment options, including ONLY state bonds in some states
  • Little or no investment advice and education for the accountholder
  • Some states do not allow accounts to be rolled over to another provider

As a result of these obvious shortcomings, it’s no surprise that 56-percent of Small- and Medium-sized business owners oppose state governments administering their retirement plan, according to The Pew Charitable Trust. Comparatively, 82-percent of SMB owners support a plan administered by a mutual fund company.

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Inspira Solution - SEP, SIMPLE & Payroll IRAs

Inspira will put your business at the forefront of the Payroll IRA opportunity, whether it’s offering a Payroll IRA to employers in the affected states or simply being ahead of the curve in your sales strategy. Our Payroll Deduction IRA solution puts your firm at the forefront of the Payroll IRA market:

  • Private-labeling and full customization makes the product yours
  • Revenue shared to you from Employer fees 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 makes it easy to start offering Payroll Deduction IRAs, SIMPLE IRAs and SEP IRAs to your clients, members or employees through your own branded portal. We handle all the recordkeeping, trading and compliance while you continue to collect revenue doing what you already do.

Learn More About SEP, SIMPLE & Payroll Deduction IRAs

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.

Learn More About Inspira's Plan Termination Solution

The Inspira Uncashed 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.

Get Started With Inspira & Uncashed Checks

Creating 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.

Get Started With RoboArchitect

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.

Learn More About Inspira's Auto Rollover Solution

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