Welcome to 401k Census, a free service provided by Pension Systems Corporation.
Pension Systems Corporation (PSC) created the patented run-it-yourself 401k Easy, heralded by The Wall Street Journal "...allows small businesses to manage 401k plans as easily as a consumer navigates family finances with programs such as Quicken." (12/27/1999).
In conjunction with Union Bank of California, Pension Systems Corporation developed 401k Easy, a web-based 401k plan administration service based upon the success of the 'run-it-yourself' pc-based 401k Easy. For small and mid-sized businesses that did not want to handle any aspects of 401k administration; This "full service" 401k administration system is called 401k Easy Plus.
On an ongoing basis, PSC "blind samples" live investment and contribution data generated from many thousands of 401k investor accounts. This raw data is analyzed and quantified, and the results posted in this website, in real time. Only blind sampling of data is performed; no personal identities or personalinvestment selections are accessed or included in the analysis and postings.
If you participate in a PSC-provided 401k pension plan, much of the investment profile information available from this website is included in your personal online 401k statement. If you participate in another provider's 401k plan, you can still use the information provided herein to refine your 401k contributions and investment choices. With 401k Census you can easily compare your 401k's profile to others in your demographic group.
The Wall Street Journal said the following about our self-service 401k software back when we introduced it in 1999:
"(It) allows small businesses to manage 401k plans as easily as a consumer navigates family finances with programs such as Quicken" ("Web Helps Small Firms Start 401ks," 12/27/99, C1).
Our patented 401k software (401k Enginuity at www.401kenginuity.com) developed in conjunction with Union Bank of California (UBOC) and customized 401k plan proved so innovative in the 401k forum that it's patented. Features that are proving particularly popular with clients include...
For more than a decade before developing our revolutionary self-service 401k system, we operated as a valued full-service provider of 401k, 403b and other government-sanctioned retirement plans.
Back then, as now, we found that by diverging from the "big plan" administrative setup used by most of the 401k industry, that rethinking the areas that were particularly inefficient, we could cut administrative overhead and save clients money. For instance...
By the mid 1990s we had so refined our software system that we saw the possibility that our clients could use a slightly more layman's version to run their 401k plans themselves (and thereby save even more money), that this would be particularly doable if the software was customized to each client's exact plan design choices (investment options, loan policies, etc.), because that would mean that processing could be even more automated. We recognized how simple it would be particularly for companies with 100 or fewer plan participants to do the basic data input and money transferring themselves, because the software does all the bookkeeping work. Our goal became to build a self-service 401k system from our in-house, full-service system and to make that system highly affordable yet flexible and of the highest quality.
In the end, the system we created enabled small business clients to spend less than 15 minutes a month running their company plan and at a cost of less than $1000 year (less than $500 a year for small businesses with only a very few employees). A rounding success for all concerned!
When 401k plans first came on the scene in the late 1970's, all the industry focus was on the big, big companies. Lots of employees meant lots of investment dollars meant lots of revenue for the 401k providers and investment companies. Everything from fee schedules to service regimes was set up to capture and service large 401k plans.
Before long, though, the big plan market was all divvied up. By the late '80s and early '90s some 401k providers developed pared-down 401k plans with which to approach the less colossal businesses. They called the plans "bundled" or "turnkey" plans, because using them was designed to be as simple as turning a key.
We, however, did not see the turnkey plans being developed as necessarily the best (or even a good) answer. So while most 401k providers lopping off desirable aspects of their big-business 401k product to create something that was supposed to woo small business clients, we opted to instead develop a 401k product specifically for small and mid-sized clients.
We created what we call a semi-bundled plan. It merged the simplicity and lower cost of turnkey plans with the flexibility and scope of many Fortune 500-type plans.
While most vendors in the 401k industry were scrambling for the big company 401ks, we were concentrating on creating plans suited to small and medium-sized companies. We made sure our plans contained the diverse features and offerings small-scale companies needed at prices they could afford.
We keep our 401k plans flexible to clients' needs and changes in those needs, because, however affordable a plan may be, it is of little use if ill-suited to the client's needs.
Even if plan participants only rarely change or add to their investment mix during the life of their 401k participation, they like to know they COULD.
The driving force behind our self-service 401k software is making 401k plans affordable to small and mid-sized companies while making the plans appealing to their employees.
As you may have surmised, we really believe in 401k plans and strive to create the best 401k plans possible. We spent years designing, developing, refining and testing our self-service 401k system and are confident that we've come up with a product that can meet a wide variety of 401k needs yet is easy to use.
To help potential 401k clients gain the same confidence in our innovative approach to 401k affordability, we back PSC 401k with a money-back guarantee:
Because the customization fee is nonrefundable, we highly recommend people try out PSC 401k before ordering their customized system. Visit our Product Demos section to access the online demos.
The above pretty much covers our PSC 401k money-back guarantee, but feel free to visit our official Money-Back Guarantee section of our Pricing page.
Pension Systems Corporation founder, James Gilbert, has been a professional 401k investment advisor for more than 30 years. His career began shortly after the time when the 401k plan first was introduced.
We continue to provide full-service 401k plans as well as 403(b) plans (for nonprofit organizations), SEPs (for self-employed persons) and other government-sanctioned retirement savings plans along with our self-service products, PSC 401k and 401k Easy for the PC.