Welcome to the Retirement Industry!
What is a 401(k) Plan?
A 401(k) plan is an employer-sponsored retirement plan that allows an eligible employee to more efficiently save money for retirement. Under subsection 401(k) of the Internal Revenue Code, these employees are allowed to defer their current taxes on money invested in the plan, and only have to pay taxes upon withdrawing money during retirement.
What is a Third-Party Administrator?
As a third-party administrator Nova 401(k) Associates helps companies manage their 401(k) plans. We are responsible for conducting annual tests to ensure a plan complies with federal laws. If the plan fails testing, we help correct the plan, so it passes the required tests. Once the plan is corrected, we file pertinent tax forms on behalf of our clients.
How Will Nova Help Me Succeed?
Nova 401(k) Associates is committed to education. We provide you with on-the-job training, on-the-job study time, free study materials, and even pay for your exams to become a credential member of the American Society of Pension Professionals & Actuaries.
We Get It. We Listen. We Communicate.