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401(k) PLAN SOLUTIONS

Co-op 401(k) Plan services

With Milliman’s affordable, quick-to-administer plan for cooperatives, sponsoring and participating in a 401(k) plan is easy.

SERVICES OVERVIEW

Account installation & administration services

Cooperatives have a business to run, so Milliman is here to help, from account installation to administration. Online access to documents, forms, and reports is quick and easy. Daily recordkeeping and customer service keep your plan up-to-date and members growing toward retirement.

Participant services

Milliman helps plan participants focus on the future, with 401(k) educational materials and in-person meetings, a toll-free 401(k) hotline, and a Web Service Center. Participants can choose from three tiers of investing: custom portfolios, InvestMap™, and professionally managed accounts.

PLAN SERVICES DETAILS

Co-op 401(k) Plan services

Conversion or installation services

Milliman will guide and manage the entire implementation project from start to finish. You will benefit from Milliman’s expertise and client-oriented service for a streamlined, efficient conversion or implementation.

Administrative services

The Milliman Co-op 401(k) Plan gives administrators the power of a client-centric technology model that streamlines data management, participant services, plan administration, and multi-plan reporting into one dynamic infrastructure resulting in high quality, accurate record-keeping services.

Milliman’s Co-op 401(k) Plan delivers top-notch record-keeping services for daily and periodic activities such as:

  • Updating accounts with investment results and other trust activity
  • Investment fund transfers and other activity
  • Access to benefit service representatives
  • Processing participant-initiated activities
  • Monitoring contribution limits
  • Quarterly statements and demographic reporting
  • Annual compliance testing and reporting (including 5500 and 1099 R forms)

Participant success

Through personalized communication, we help participants track their progress toward retirement readiness. The education program includes:

  • Newsletters
  • Enrollment kit, which includes required notices
  • Targeted communication program to help participants make the right decisions
  • Interactive website with planning, education, and transactional functionality
  • Live and recorded educational sessions
  • Mobile app with transactional functionality
  • Benefits Service Center with representatives available by phone or webchat, Monday through Friday from 7 a.m. to 7 p.m. Central time.
  • Access to investment advice through the professionally managed account program

Contact us about the Co-op 401(k) Plan

We’re passionate about partnering with people to solve complex problems. Let’s chat about what’s going on with your business and how we can help.