Defined Contribution Plan (401K)

Employee 401k Program

A competitive 401k retirement savings plan is a key employee benefit. CCBA offers an innovative and flexible 401K program for its Membership.

The program is available to any size Bottler and currently, approximately half of our Members participate in this program, with assets nearing $1 billion.  The Plan includes a diverse portfolio of funds for your employees, including target date funds and a brokerage account option.

The program is particularly attractive given our ability to customize based on the unique needs and objectives of each participating employer. Plan design features can be tailored to allow for custom vesting periods, eligibility, and employer contributions.

Features and Benefits:

  • As the Plan Sponsor, CCBA shoulders the bulk of the fiduciary liability for the 401k program, including DOL and IRS protocols for adhering to and updating the Plan’s Investment Policy Statement and managing investments; vendor benchmarking, selection, and oversight; holding regular investment review meetings and retaining meeting minutes; and obtaining sufficient fiduciary insurance.
  • Principal Financial Group, one of the world’s leading retirement and income solutions service providers and global investors, administers the Plan, giving your employees online access to their account, free online financial wellness and retirement education material, and online tools to help them better prepare for a secure retirement. 
  • An exceptional third-party advisor, NFP, provides oversight on the fund line-up, partners with CCBA to benchmark vendors and fees, and serves as a 3(21) fiduciary of the Plan.

Services include:
Compliance Administration
– Preparation and filing of 5500s
– Manage required Plan Audits
– Coordinate annual compliance testing, corrections, and match true-ups

– Review, edit, and coordinate mailing for all annual Plan legal notices to participants
Communicate and integrate any changes due to new legislative requirements.

Participant Education Assistance
– Create annual Plan education strategies with Principal

– Work with your team on goal setting and education strategies that meet your needs and fit your culture
– Assist in planning, marketing, and executing onsite education meetings with your employees

General Administration
– Ensure all Plan Documents are updated timely and retained

– Partner with recordkeeper and Bottlers on payroll feeds and various administrative tasks
– Oversee and organize any Plan changes including required notices, Amendments, and employee education

The knowledgeable and experienced CCBA staff is here to support you every step of the way.  We know that your employees are more than staff; they are family.  We are committed to creating a Plan and providing education and tools to help all participants meet their retirement goals.   Contact us to learn more about how the CCBA 401k Plan can add value to your organization.  Get more information.  

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