--- title: 401(k) Pooled Employer Plans for Michigan Employers | Kingsview Partners description: "Michigan 401(k) sponsors: see how a Pooled Employer Plan compares on cost, Form 5500 filing and fiduciary responsibility. Request a plan review or get the free guide." --- [Skip to main content](https://secure.kingsview.com/cellini-young-michigan-401k-pep#main) ![Kingsview Partners](https://secure.kingsview.com/hs-fs/hubfs/KVP%20--%20Brand%20Assets/KVP%20--%20Logos/KV_Logo-Horizontal_white.png?width=500&height=46&name=KV_Logo-Horizontal_white.png) Michigan Midland [(989) 214-4444](tel:+19892144444) | Canton [(734) 253-0111](tel:+17342530111) FOR MICHIGAN EMPLOYERS WITH 100+ PLAN PARTICIPANTS # Still Paying for Your Own 401(k) Audit Every Year? Our dedicated team can handle plan administration, file your Form 5500, manage investments, and take on fiduciary responsibility. [Schedule a Plan Review](https://secure.kingsview.com/cellini-young-michigan-401k-pep#schedule) Download the Free Guide Request a 30-minute conversation with a CFP® professional who works with Michigan plan sponsors. No plan documents needed for the first conversation. Annual ERISA Audit Required at 100+ Participants In a 401(k) PEP, one audit is shared across every employer in the plan, at a much lower cost. Potentially save thousands of dollars and 30+ staff hours every year. Compare your current plan. [Request a plan review](https://secure.kingsview.com/cellini-young-michigan-401k-pep#schedule). - Doug Cellini, CFP® · Midland - Robert Young, MBA, CFP® · Canton - Kingsview Partners ## Three Questions To Ask Before Your Next 401(k) Audit 1. 1 ### What is this plan actually costing us — all in? Recordkeeping, TPA costs, and mandatory audits typically cost well over $25,000 for larger companies with 100+ employees. 2. 2 ### Who is liable if something goes wrong? As a plan sponsor, you're ultimately liable for every investment decision, compliance failure, and administrative error connected to your 401(k). Keeping up with regulatory changes is your responsibility as a 401(k) sponsor. 3. 3 ### Are we paying too much for our annual audit? The annual ERISA audit is required at 100+ participants. Plans with 90–134 participants are often the least prepared for audit costs, and the strongest PEP candidates. A Pooled Employer Plan (PEP) is built to address each of these. ↓ ## What a 401(k) Pooled Employer Plan Is A Pooled Employer Plan (PEP) is a type of 401(k) plan that pools your plan with others under a single, professionally managed structure. Our dedicated team can handle plan administration, file your Form 5500, manage investments, and take on fiduciary responsibility. You get to focus on growing your business instead of staying stuck and exposed to financial risk. ## How Your Current 401(k) Compares to a 401(k) PEP Your 401(k) Today With a 401(k) PEP Investment selection and monitoring **Coordinated by you** 3(38) investment fiduciary Plan administration and compliance **Coordinated by you** 3(16) plan administrator Form 5500 preparation and filing You sign and file Signed and filed by PPP Annual ERISA audit Costs $8,000-$15,000 on average Shared, at a much lower cost Fiduciary liability **Your responsibility** Shared with credentialed professionals Compliance testing Coordinated by you Handled by TPA Plan design and features Your choice Still your choice ## Key Advantages of a 401(k) PEP ### Reduced Liability Professional 3(16) and 3(38) fiduciaries take on much of your plan's administrative and investment responsibility. ### Lower Audit Costs One shared annual audit, coordinated for you. Potentially save thousands of dollars and 30+ staff hours every year. ### You Still Control Your Plan Eligibility, vesting, matching, loans, and profit sharing are all at your discretion. ## Why the 100-Participant Mark Matters Plans with 100 or more participants generally must file an independent audit with their annual Form 5500. The count includes former employees who still have account balances, so a plan can cross the line before headcount does. In a 401(k) PEP, the pooled plan is audited once and the cost is shared across every adopting employer. Your business typically pays a fraction of what a standalone audit costs, and your team no longer has to manage it. The Pooled Plan Provider also signs and files the Form 5500. ## Is a 401(k) PEP Right for Your Business? Plans with 90–134 participants are often the least prepared for audit costs, and the strongest PEP candidates. Construction companies, manufacturing plants, engineering firms, and tradesman companies are some of the more ideal companies for PEPs. Will we lose control of plan design? No. Employers retain full control over eligibility, contributions, vesting, and matching formulas. The 401(k) PEP handles administration, not plan design. The investment lineup, recordkeeping, and administration are shared across the PEP; your plan design stays your own. Who files Form 5500? The Pooled Plan Provider signs and files on behalf of all adopting employers, removing this task entirely from your plate. What does it cost to switch? Most plans see overall costs decrease 10–20%. Pricing includes recordkeeping, TPA, and 3(16)/3(38) fiduciary services in one structure. Why evaluate this now? Plans approaching 100 participants face a new annual audit, and plans already over it pay for one every year. It's also a good time to confirm you've signed your plan's SECURE 2.0 amendments; most pre-approved 401(k) plans must adopt them by December 31, 2026. Evaluating a PEP alongside both avoids duplicate work and future disruption. ## What the Review Process Looks Like ### If your business already sponsors a 401(k) plan - Gather existing plan documents, such as your Adoption Agreement, Participant Fee Disclosure Notice (ERISA 404 a-5), Service Provider Fee Disclosure (408b-2), asset summary sheet, and full employee census data. - Submit your details for review and plan quotes. - Once received, we will review your plan quotes together as benchmarks to compare your current plan. If it makes sense to switch to a PEP, we'll begin the paperwork. ### If your business doesn't have a 401(k) plan - Gather your census details and submit for review. - Collect plan quotes based on your current company dataset. - We'll present you with the initial plan details. - We'll customize your plan design to fit your business. Whether you're already sponsoring a 401(k), looking to change plans, or getting ready to start a new plan, this may be the best time to consider a 401(k) PEP. The review and initiation process is straightforward. ## Request a Plan Review Tell us about your plan and we'll follow up to schedule a conversation. *We ask that you submit with a business email address so we can confirm the plan and the sponsor before the call.* ![Doug Cellini](https://secure.kingsview.com/hs-fs/hubfs/Doug%20Cellini%20headshot-1.png?width=176&name=Doug%20Cellini%20headshot-1.png) Doug Cellini, CFP® Kingsview Partners 204 W Buttles Ave, Ste B Midland, MI 48640 [(989) 214-4444](tel:+19892144444) [DCellini@kingsview.com](mailto:DCellini@kingsview.com) [Schedule with Doug](mailto:DCellini@kingsview.com) ![Robert Young](https://secure.kingsview.com/hs-fs/hubfs/Robert%20Young%20headshot-3.png?width=176&name=Robert%20Young%20headshot-3.png) Robert Young, MBA, CFP® Kingsview Partners 5880 N Canton Center Rd, Ste 418 Canton, MI 48187 [(734) 253-0111](tel:+17342530111) [RYoung@kingsview.com](mailto:RYoung@kingsview.com) [Schedule with Rob](https://calendly.com/ryoung-kingsview/30min) Kingsview Partners Kingsview Wealth Management ("KWM") is an investment adviser registered with the Securities and Exchange Commission ("SEC"). Registration does not constitute an endorsement of the firm by the SEC, nor does it indicate that KWM has attained a particular level of skill or ability. The information presented is for educational purposes only. It does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. This information has been prepared from sources believed reliable but the accuracy and completeness of the information cannot be guaranteed. This material and/or its contents are current at the time of writing and are subject to change without notice. Important Risks: Investing involves risk, including the possible loss of principal. This information should not be considered investment advice or a recommendation to buy/ sell any security. In addition, it does not take into account the specific investment objectives, tax, and financial condition of any specific person. This information has been prepared from sources believed reliable but the accuracy and completeness of the information cannot be guaranteed. This material and/or its contents are current at the time of writing and are subject to change without notice. ```json { "@context" : "https://schema.org", "@type" : "FAQPage", "mainEntity" : [ { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "No. Employers retain full control over eligibility, contributions, vesting, and matching formulas. The 401(k) PEP handles administration, not plan design. 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