AmCheck Announces Free 401k Plan to Businesses Through End of Year
PHOENIX — October 2, 2006 — Today at the corporate headquarters, AmCheck Corp. announced immediate availability of the AmCheck® 401k through John Hancock Pensions® with no set-up fees whatsoever for new clients. The 401k plan is a special template plan which requires customers that participate, be subject to a few features that are not customizable. For instance, the 5 year vesting schedule and the selection of over 85 funds cannot be modified. The plan is however very flexible in the fact that company match amounts, waiting periods, age to enter, even a safe harbor election and more can all be determined by the customer. AmCheck executives hope that by deploying this offer to businesses nationwide, it spurs new business revenues in the fourth quarter. “The mere fact that this type of plan normally costs $4500 and is available to small businesses nationwide at no cost to engage is remarkable. Also because AmCheck® has coordinated the third party administration (tpa), trust services and payment remittance, the customer does not have to lift a finger”, stated Dean Lucente, AmCheck President. Customers will have to pay for monthly maintenance fees for the plan and some restrictions do apply.
“We have been extremely happy with the performance, options and the online services available for our employees.” Stated Martin Galindo, President, Precision Installation, Inc. an AmCheck
Customer. Founded in 1996, AmCheck is a nationwide leader in payroll, HR and Benefit solutions provider for businesses of any size. The company offers a wide range of products and services designed to empower clients through great customer service, customization and convenience.
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