401k Plans For Small Businesses 2022

401(k) plans can be a powerful tool in promoting financial security in retirement. They are a valuable option for businesses considering a retirement plan, providing benefits to employees and their employers. A 401(k) plan: * Helpsattractand keeptalentedemployees. * Allowsparticipants todecide howmuch tocontribute to theiraccounts. * Entitles employers to a tax deduction for contributions to employees'accounts. * Benefitsamixofrank-and-fileemployeesandowners/managers. * Permits money contributed to grow through investments in stocks, bonds, mutual funds, moneymarketfunds, savingsaccounts, and other investment vehicles. * Offerssignificanttaxadvantages(includingdeductionofemployercontributionsanddeferredtaxation on contributions and earnings until distribution). * Allowsparticipantstotaketheirbenefitswiththemwhentheyleavethecompany,easingadministrative responsibilities. This publication provides an overview of 401(k) plans. For more information, resources for both you and your employees are listed at the end of this booklet. Whenyouestablisha401(k)plan,youmusttakecertainbasicactions.Oneofyourfirstdecisionswillbe whether to set up the plan yourself or to consult a professional or financial institution – such as abank, mutual fund provider, or insurance company – to help you establish and maintain the plan. Inaddition,there are four initial stepsfor settingup a 401(k) plan: * Adoptawrittenplandocument, * Arrangeatrustfortheplan'sassets, * Developarecordkeepingsystem,and * Provideplaninformationto employeeseligibletoparticipate. Adopt a written plan document–Plansbeginwithawrittendocumentthatservesasthefoundationfor day-to-day plan operations. If you hired someone to help with your plan, that person likely willprovidethedocument.Ifnot,considergettingassistancefromafinancialinstitutionorretirementplanprofessional.In either case, you willbe bound by the terms of the plan document. Once you have decided on a 401(k) plan, you will need to choose the type of plan best for you – atraditional 401(k) plan, a safe harbor 401(k) plan, or an automatic enrollment 401(k) plan. In all theplansdescribed below,participants cancontribute throughsalarydeductions. A traditional 401(k) planoffersthemostflexibility.Employerscandecidewhethertocontributeforall participants,to match employees' deferrals, to do both, or to do neither. These contributions can besubjecttoavestingschedulethatprovidesthatanemployee'srighttoemployercontributionsbecomesnonforfeitableonlyafteracertainamountoftime. Annual testingensuresthatbenefitsforrank-and-fileemployees areproportional tobenefits for owners/managers. Several kinds of 401(k) plans are not subject to the annual contributions testing that traditional 401(k) plans require. These are known as safe harbor 401(k) plansand,inexchangeforavoidingannualtesting, employees in these plans must receive a certain level of employer contributions. Under themostpopular safeharbor 401(k)plan, mandatory employercontributions mustfully vestwhenmade. An automatic enrollment 401(k) planallowsyoutoautomaticallyenrollemployeesandplacetheirsalary deductions in certain default investments, unless the employee elects otherwise. This is aneffectivewayfor employers to increase participation intheir 401(k) plans. The traditional, safe harbor, and automatic enrollment plans are for employers of any size. This booklet addresses traditional and safe harbor 401(k) plans. For more information on automatic enrollment 401(k) plans, see Automatic Enrollment 401(k) Plans for Small Businesses(Publication4674). Once you have decided on the type of plan for your company, you have flexibility in choosing some of the plan's features, such as which employees can contribute to the plan and how much. Other features written into the plan are required by law. For instance, the plan document must describe how certain key functions are carried out, such as how contributions are deposited in the plan. Arrange a trust for the plan's assets— A plan'sassetsmustbeheldintrusttoassurethattheassetsare used solely to benefit theparticipants and theirbeneficiaries. The trust must have atleast onetrustee to handle contributions,plan investments,anddistributions.Sincethefinancialintegrityoftheplan depends on the trustee, selecting a trustee isoneofthemostimportantdecisionsyouwillmakein establishing a 401(k) plan. If you set up yourplan through insurance contracts, the contracts donot need to be held in trust. Develop a recordkeeping system—Anaccuraterecordkeeping system will track and properlyattribute contributions, earnings and losses, planinvestments,expenses,andbenefitdistributions.If a contract administrator or financial institutionassists in managing the plan, that entity typicallywillhelp keep therequired records. In addition, a recordkeeping system will help you, your planadministrator,oryourfinancialproviderpreparetheplan'sannualreturn/reportthatmustbefiledwiththeFederalGovernment. Provide plan information to employees eligible to participate—Youmustnotifyemployeeswho are eligible to participate in the plan aboutcertainbenefits,rights,andfeatures.Inaddition,a summary plan description (SPD) must be provided to all participants. The SPD is the primary vehicle to inform participants and beneficiaries about the plan and how it operates. It typically is created with the plan document. (For more information on the required contents of the SPD, see DisclosingPlanInformationtoParticipants.) Youalsomaywanttoprovideyouremployeeswithinformationthatdiscussestheadvantagesofyour401(k) plan. The benefits to employees – such as pretax contributions to a 401(k) plan (or tax-freedistributions in the case of Roth contributions), employer contributions (if you choose to make them),and compounded tax-deferred earnings – help highlight the advantages of participating in the plan. Once you establish a 401(k) plan, you assume certain responsibilities in operating it. If you hired someone to help set up your plan, that arrangement also may include help in operating the plan. If not, you'll need to decide whether to manage the plan yourself or to hire a professional or financial institution – such as a bank, mutual fund provider, or insurance company – to take care of some or most aspects of operating the plan. Elements of operating 401(k) plans include: * Participation * Contributions * Vesting * Nondiscrimination * Investing the contributions * Fiduciaryresponsibilities * Disclosingplaninformationtoparticipants * Reporting to government agencies * Distributingplanbenefits Participation Typically,aplanincludesamixofrank-and-fileemployeesandowners/managers.However,a401(k)planmay exclude someemployees if they: * Areyounger than21, * Havecompletedlessthanoneyearofservice, * Arecoveredbyacollectivebargainingagreement,ifretirementbenefitswerethesubjectofgoodfaith bargaining, or * Arecertain nonresidentaliens. Contributions Inall401(k)plans,participantscancontributethroughsalarydeductions.Youcandecideonyourbusiness's contribution to participants'accounts in the plan. Traditional401(k)Plan If you decide to contribute to your 401(k) plan, you have further options. You can contribute apercentage of each employee's compensation for allocation to the employee's account (called anonelective contribution), you can match the amount your employees contribute (called a matchingcontribution), or you can do both. For example, you may decide to add a percentage – say, 50 percent – to an employee's contribution, which results in a 50-cent increase for every dollar the employee sets aside. Using a matching contribution formula will provide employer contributions only to employees who make deferrals to the 401(k) plan. If you choose to make nonelective contributions, the employer contribution goes to each eligible participant, whether or not the participant decides to make a salary deferral to their 401(k) plan account. Under a traditional 401(k) plan, you have the flexibility of changing the amount of employer contributions each year, according to business conditions. Safe Harbor 401(k) Plan Under a safe harbor plan, you can match each eligible employee's contribution, dollar for dollar, up to 3 percent of the employee's compensation, and 50 cents on the dollar for the employee's contribution that exceeds 3 percent, but not 5 percent, of the employee's compensation. Alternatively, you can make a nonelective contribution equal to 3 percent of compensation to each eligible employee's account. Each year you must make either the matching contributions or the nonelective contributions. The plan document will specify which contributions will be made and this information must be provided to employees before the beginning of each year. Roth Contributions 401(k) plans may permit employees to make after-tax contributions through salary deduction. Thesedesignated Roth contributions, as well as gains and losses, are accounted for separately from pretaxcontributions.However,designatedRothcontributionsaretreatedthesameaspretaxcontributionsformostaspects of plan operations, suchas contribution limits. A 401(k) plan may allow participants to transfer certain amounts in the plan to their designated Roth account in the plan. ContributionLimits Employer and employee contributions and forfeitures (nonvested employer contributions of terminatedparticipants)are subjectto aper-employee overall annuallimitation.Thislimit isthe lesser of: * 100percentoftheemployee'scompensation,or * $57,000 for 2020 and $58,000 for 2021. In addition, theamount employeescan contributeunder any 401(k)plan islimited to$19,500 for2020andfor2021.This includesbothpre-taxemployee salarydeferralsandafter-taxdesignated Rothcontributions (if permitted under the plan). All 401(k) plans may allow catch-up contributions of $6,500 for 2020 and for 2021 for employees age 50 and over. Vesting Employee salary deferrals are immediately 100 percent vested – that is, the money that an employeehas contributed to the plan cannot be forfeited. When an employee leaves employment, they areentitled to those deferrals, plus any investment gains (or minus losses) on the deferrals. In safe harbor 401(k) plans, all required employer contributions are always 100 percent vested. In traditional 401(k) plans, you can design your plan so that employer contributions vest over time, according to a vesting schedule. Nondiscrimination To preserve the tax benefits of a 401(k) plan, the plan must provide substantive benefits for rank-and file employees, not just business owners and managers. These requirements are called nondiscrimination rules and compare both plan participation and contributions of rank-and-file employees to owners/managers. Traditional 401(k) plans are subject to annual testing to ensure that the amount of contributions made for rank-and-file employees is proportional to contributions made for owners and managers. In most cases, safe harbor 401(k) plans are not subject to annual nondiscrimination testing. InvestingtheContributions After you decide on the type of 401(k) plan, you can consider the variety of investment options. Indesigningaplan,youwill needtodecidewhethertopermityouremployeestodirecttheinvestmentof their accounts or to manage the monies on their behalf. If you choose the former, you must decidewhat investment options to make available to the participants. Depending on the plan design youchoose, you may want to hire someone either to determine the investment options or to manage theplan'sinvestments.Continuallymonitoringtheinvestmentoptionsensuresthatyourselectionsremainin the best interests of your plan and its participants. FiduciaryResponsibilities Many of the actions needed to operate a 401(k) plan involve fiduciary decisions. This is true whether you hire someone to manage the plan for you or do some or all of the plan management yourself. Controlling the assets of the plan or using discretion in administering and managing the plan makes you and the entity you hire a plan fiduciary to the extent of that discretion or control. Providing investment advice for a fee also makes someone a fiduciary. Hiring someone to perform fiduciary functions is itself a fiduciary act. Thus, fiduciary status is based on the functions performed for the plan, not a title. Some decisions for a plan are business decisions, rather than fiduciary decisions. For instance, the decisions to establish a plan, to include certain features in a plan, to amend a plan, and to terminate a plan are business decisions. When making these decisions, you are acting on behalf of your business, not the plan, and therefore, you would not be a fiduciary. However, when you take steps to implement these decisions, you (or those you hire) are acting on behalf of the plan and, in carrying out these actions, may be a fiduciary. BasicResponsibilities Fiduciariesareinapositionoftrustwithrespecttotheparticipantsandbeneficiariesintheplan.Thefiduciary'sresponsibilities include: * Actingsolelyintheinterestoftheparticipantsandtheirbeneficiaries; * Actingfortheexclusivepurposeofprovidingbenefitstoworkersparticipatingintheplanandtheirbeneficiaries, and defraying reasonableplan expenses; * Carrying out duties with the care, skill, prudence, and diligence of a prudent person familiarwithsuchmatters; * Followingtheplandocuments;and * Diversifyingplaninvestments. These are the responsibilities that fiduciaries need to keep in mind as they carry out their duties. Theresponsibility to be prudent covers a wide range of functions needed to operate a plan. Since all thesefunctions must be carried out in the same manner as a prudent person would, you may want to consultexpertsin investments, accountingand other fields,as appropriate. In addition, for some functions, there are specific rules that help guide the fiduciary. For example, the deductions from employees' paychecks for contribution to the plan must be deposited with the plan as soon as reasonably possible, but no later than the 15th business day of the month following the payday. If you can reasonably make the deposits in a shorter time frame, you must do so. For plans with fewer than 100 participants, salary reduction contributions deposited with the plan no later than the 7th business day following withholding by the employer will be considered contributed in compliance with the law. For all contributions, employee and employer (if any), the plan must designate a fiduciary, typically the trustee, to make sure that contributions due to the plan are transmitted. If the plan and other documents are silent or ambiguous, the trustee generally has this responsibility. In addition, you (or those you hire) will need to update the plan document for changes in the law. LimitingLiability Withtheseresponsibilities,thereisalsosomepotentialliability.However,youcantakeactionstodemonstratethatyoucarried outyourresponsibilities properlyandto limityourliability. The fiduciary responsibilities cover the process used to carry out the plan functions rather than simply the results. For example, if you or someone you hire makes the investment decisions for the plan, an investment does not have to be a "winner" if it was part of a prudent overall diversified investment portfolio for the plan. Since a fiduciary needs to carry out activities through a prudent process, you should document the decision-making process to demonstrate the rationale behind the decision at the time it was made. In addition to the steps above, there are other ways to limit potential liability. The plan can be set up to give participants control of investments in their accounts. For participants to have control, they must have sufficient information on the specifics of their investment options. If properly executed, this type of plan limits your liability for participants' investment decisions. You can also hire a service provider or providers to handle some or most of the fiduciary functions, setting up the agreement so that the person or entity then assumes liability. HiringaServiceProvider Even if you do hire a financial institution or retirement plan professional to manage the plan, you retain some fiduciary responsibility for the decision to select and keep that person or entity as the plan's service provider. Thus, you should document your selection process and monitor the services provided to determine if you need to make a change. For a service contract or arrangement to be reasonable, service providers must give you certain information about the services they will provide to your plan and all of the compensation they will receive. This information will assist you in understanding the services, assessing the reasonableness of the compensation (direct and indirect), and determining any conflicts of interest that may impact the service provider's performance. Some additional items to consider in selecting a plan service provider: * Informationaboutthefirmitself:affiliations,financialcondition,experiencewith401(k)plans, and assets under its control; * Adescriptionofbusinesspractices:howplanassetswillbeinvestedifthefirmwillmanageplaninvestments or how participant investment directions willbe handled; and * Informationaboutthequalityofprospectiveproviders: the identity, experience, and qualifications of the professionals who will be handling the plan's account; any recent litigation or enforcement action that has been taken against the firm; the firm's experience or performance record; if the firm plans to work with any of its affiliates in handling the plan's account; and whether the firm has fiduciary liability insurance. Once hired, you should continue to monitor your service provider by doing the following: * Evaluate any notices the service provider furnishes about possible changes to theircompensation and the other information they provided when hired (or when the contract orarrangementwasrenewed); * Reviewtheserviceprovider'sperformance; * Read any reports they provide; * Checkactualfeescharged; * Askaboutpoliciesandpractices(suchastrading,investmentturnover,andproxyvoting);and * Followuponparticipantcomplaints. ProvidingInformationinParticipant-DirectedPlans When plans allow participants to direct their investments, fiduciaries need to take steps regularly to make participants aware of their rights and responsibilities related to directing their investments. This includes providing plan- and investment-related information, including information about fees and expenses that participants need to make informed decisions about the management of their individual accounts. You (or those you hire) must provide that information to participants before they can first direct their investment in the plan and annually thereafter. The investment-related information needs to be presented in a format, such as a chart, that allows for a comparison among the plan's investment options. A model chartis available. If you use information provided by a service provider that yourely on reasonably and in good faith, you will be protected from liability for the completeness andaccuracy of the information. ProhibitedTransactionsandExemptions Some transactions are prohibited under the law to prevent dealings with parties that have certainconnections to the plan, self-dealing, or conflicts of interest that could harm the plan. However,thereareseveralexceptionsunderthelaw,andadditionalexemptionsmaybegrantedbytheU.S.Departmentof Laborif protections forthe plan arein place inconducting the transactions. One exemption allows fiduciary investment advisers to provide investment advice to participants who direct the investments in their accounts. The exemption applies to buying, selling, or holding an investment related to the advice, as well as to receiving related fees and other compensation by a fiduciary adviser. Please see DOL'swebsitefor moreinformation. Anotherexemptionin thelawpermits youtooffer loanstoparticipants throughyour plan.Ifyou do,the loan program must be carried out in a way that protects the plan and all other participants. Eachloanrequest decisionis treatedas aplan investmentand consideredaccordingly. Bonding Anyonehandlingplanfundsorotherplanpropertygenerallymustbecoveredbyafidelitybondtoprotect the plan against loss resulting from fraud and dishonesty by those covered by the bond. DisclosingPlanInformationtoParticipants Plan disclosure documents keep participants informed about the basics of plan operation, alert them to changes in the plan's structure and operations, and give them a chance to make decisions and take timely action about their accounts. The summaryplandescription(SPD)–thebasicdescriptivedocument–isaplain-languageexplanationof the plan and must be comprehensive enough to informparticipants of their rights and responsibilitiesunderthe plan. It also informs participants about theplan features and whatto expect of theplan. Amongotherthings, theSPDmust includeinformationabout: * When and how employees become eligible to participate in the 401(k) plan, * The contributions to the plan, * How long it takes to become vested, * When employees are eligible to receive their benefits, * How to file a claim for those benefits, and * Participants' basic rights and responsibilities under the Employee Retirement Income Security Act (ERISA). The SPD should include an explanation about the administrative expenses that will be paid by the plan. This document must be given to participants when they join the plan and to beneficiaries when they first receive benefits. SPDs must also be redistributed periodically during the life of the plan. A summary of material modifications (SMM)informsparticipantsofchangesmadetotheplanortotheinformationrequiredtobeintheSPD.Whensuchchangesoccur,allparticipantsmustreceiveoneofthesetwodocumentsautomatically withinaspecifiednumber ofdaysafterthechange. An individual benefit statementshows: * Thetotalplanbenefitsearnedbyaparticipant, * Vestedbenefits, * The value of each investment in the account, * Informationdescribing the ability to direct investments, and * For plans with participant direction, an explanation of the importance of a diversified portfolio.Plans that provide for participant-directed accounts must furnish quarterly individual benefitstatements.Plansthatdonotprovideforparticipantdirectionmustfurnishstatementsannually. As noted above, plans that allow participants to direct the investments in their accounts must provide participants with plan and investment information, including information about fees and expenses, before they can first direct investments and generally annually thereafter. At least quarterly, they also must provide participants with information on the fees and expenses actually paid. The initial plan- related information may be distributed as part of the SPD provided when a participant joins the plan as long as it is provided before the participant can first direct investments. The information provided quarterly may be included with the individual benefit statement. A summary annual reportis a narrative of the plan's annual return/report, the Form 5500, filed with the Federal Government (see Reporting to Government Agenciesformoreinformation).Theplanadministrator must furnish it annually to participants. A blackout period noticegivesemployeesadvancenoticewhenablackoutperiodoccurs,typicallywhen plans change recordkeepers or investment options, or when plans add participants because ofcorporate mergersor acquisitions.Duringablackout period,participants'rights todirect investments,takeloans, or obtain distributions are suspended. You can furnish these disclosures in paper or electronically. To provide them electronically, you may either post them on a plan website or email them to plan participants, after notifying participants that disclosures will be furnished electronically. There are a number of protections for participants receiving electronic disclosures, including the right to request paper copies of disclosures or to opt out of electronic delivery. You also need to take reasonable steps to protect the confidentiality of participants' personal information online. For more information, see DOL'swebsite. ReportingtoGovernmentAgencies In addition to the disclosure documents that provide information to participants, plans must also reportcertaininformation to Governmententities. Form5500AnnualReturn/ReportofEmployeeBenefitPlans Plansmustfileanannualreturn/reportwiththeFederalGovernment,inwhichinformationabouttheplananditsoperationisdisclosedtotheIRSandtheU.S.DepartmentofLabor. Depending on the number and type of participants covered, most 401(k) plans must file one of the following forms: * Form 5500, AnnualReturn/ReportofEmployeeBenefitPlan, * Form5500-SF, ShortFormAnnualReturn/ReportofSmallEmployeeBenefitPlan,or * Form5500-EZ, AnnualReturnofOne-Participant(OwnersandTheirSpouses)RetirementPlan. PlansfiletheForm5500orForm5500-SFelectronicallythroughaweb-basedsystemcalledEFAST2.The Form 5500-EZ will also be available on EFAST2 for direct electronic filing, although one-participant plans will still be able to file the Form 5500-EZ on paper with the IRS. These returns/reports are made available to the public. One-participant plans (which cover only sole proprietors – whether incorporated or not – partners, and spouses) with total assets of $250,000 or less at the end of the plan year are exempt from the annual filing requirement. However, you must file a final return/report if you terminate the plan, regardless of the value of the plan's assets. Form1099-R Form 1099-R,Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs,Insurance Contracts, etc., is used to report distributions (including rollovers) from a retirement plan. Itisgiven toboth the IRSand recipients ofdistributions from theplan during theyear. Form8955-SSA Form 8955-SSA,AnnualRegistrationStatementIdentifyingSeparatedParticipantswithDeferredVested Benefits, is used to report separated participants with deferred vested benefits under the plan. It is filed with the IRS. The information reported is generally given to the Social Security Administration and to each deferred vested participant in an individual statement by the plan administrator. DistributingPlanBenefits Theamountofbenefitsina401(k)planisdependentonaparticipant'saccountbalanceatthetimeofdistribution. When participants are eligible to receive a distribution, 401(k) plans typically provide that participantscan elect to: * Takealumpsumdistributionoftheiraccount, * Rollover theiraccount toan IRAor anotheremployer'sretirement plan,or * Takeperiodicdistributions. More employers are offering annuity or other lifetime income distribution options in their definedcontribution plans for employees who want to ensure that they do not outlive their retirement savings.Youmay wantto look intowhatotheremployers are doing. 401(k)plansmustbeestablishedwiththeintentionofbeingcontinuedindefinitely.However,businessneeds may require employers to terminate their plans. For example, you may want to establish anothertype of retirement plan instead of the 401(k) plan. Typically, the process of terminating a 401(k) plan includes amending the plan document, distributing all assets, and filing a final Form 5500. You must also notify your employees that the plan will be discontinued. Check with your plan's financial institution or a retirement plan professional to see what else you must do to terminate your 401(k) plan. Even with the best intentions, those operating the plan can still make mistakes. The U.S. Department of Labor and IRS have correction programs to help 401(k) plan sponsors correct plan errors, protect participants' interests, and keep the plan's tax benefits. These programs are structured to encourage early correction. Having an ongoing review program makes it easier to spot and correct mistakes in plan operations. See the Resourcessectionfor further information. Nowthatyouare readytogetstarted,askyourselfthesequestions: * Have you determined which type of 401(k) plan best suits your business? * Have you decided whether to hire a financial institution or retirement plan professional to help with setting up and running the plan? * Have you decided whether to make contributions to the plan, and, if so, whether to make nonelective and/or matching contributions? (Remember, you may design your plan so that you may change your nonelective contributions if necessary due to business conditions.) * Have you adopted a written plan that includes the features you want to offer, such as whether participants will direct the investment of their accounts? * Have you notified eligible employees and provided them with information to help in their decision-making? * Have you arranged a trust for the plan assets or will you set up the plan solely with insurance contracts? * Have you developed a recordkeeping system? * Do you understand your fiduciary responsibilities? * How will you monitor the plan's service providers and investments? * Do you understand the reporting and disclosure requirements of a 401(k) plan? For help establishing and operating a 401(k) plan, you may want to talk to a retirement plan professional or a representative of a financial institution offering retirement plans – and take advantage of the help available in the following Resourcessection. Tofindthispublicationandmoreinformationonretirementplans,visit: TheU.S.Department ofLabor's EmployeeBenefits SecurityAdministration InternalRevenueService In addition, the following jointly developed publications are available on the DOL and IRS websites or can be ordered electronicallyorby callingtoll-free . * Choosing a Retirement Solution for Your Small Business,Publication3998,providesanoverviewof retirement plans available to smallbusinesses. * AddingAutomaticEnrollmenttoYour401(k)Plan,Publication4721,explainshowtoaddautomatic enrollment to your existing 401(k) plan. * AutomaticEnrollment401(k)PlansforSmallBusinesses,Publication4674,explainsatypeofretirementplan that allows smallbusinesses to increase plan participation. * PayrollDeductionIRAsforSmallBusinesses,Publication4587,describesanarrangementthatisan easy wayfor businessesto give employees an opportunity tosavefor retirement. * ProfitSharingPlansforSmallBusinesses,Publication4806,describesaflexiblewayforbusinessesto help employees savefor retirement. * SEPRetirementPlansforSmallBusinesses,Publication4333,describesalow-costretirementsavingsoption for smallbusinesses. * SIMPLEIRAPlansfor SmallBusinesses,Publication4334, describesatypeofretirement plandesignedespecially for smallbusinesses. Forbusinessownerswithaplan * RetirementPlanCorrectionPrograms, Publication 4224, briefly describes the IRS and DOL voluntary correction programs. 401(k) Plans for Small BusinessesisajointprojectoftheU.S.DepartmentofLabor's Employee Benefits Security Administration (EBSA) and the InternalRevenueService. Leading Retirement Solutions (206) phone (800) (toll free) Our mission: to proactively support organizations and lead them toward a secure future.