ERSOP is a provider of tax-qualified, profit-sharing plan which allows rollover money to sponsor businesses. It utilizes existing individual retirement account (IRA) and 401(k) money to buy stocks of an adopting employer or affiliate. In this article, we cover ERSOP reviews and pricing. Ready to get started? Apply now.
ERSOP pricing employs a flat rate for its services. The initial consultation is free, then the follow-up review costs $500. Generally, the price for an ERSOP Plan is $4,500. There can be an additional annual administration fee of $900 if your plan exceeds more than four hours of trust accounting. For more information, check out ERSOP’s fees table.
|Follow-up Consultation & Review|
|ERSOP Plan in Most States|
|Per Each Additional Adopting Employer|
*The annual administration fee includes a maximum of 4 hours of trust accounting. While most clients do not require more than this, excess hours will be charged an additional fee, which will depend on the administrator’s hourly rate.
Ready to get started with ERSOP? Apply now.
Summary of ERSOP Reviews
As of the date that this article was written (May 17, 2019), there are no ERSOP reviews online. If you are a past or current ERSOP customer, leave a review to help other business owners who are deciding whether or not to use the company.
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Check out the list below of some of ERSOP’s features:
- Real estate property management
- Qualified plan admin
- Qualified benefit plan consulting
- ERISA plan consulting and administration
- IRS and United States Department of Labor plan audits
- Watertight solutions
- Complete forms
- And more
What is the difference of The Plan from the Trust document?
The Plan is the document setting forth eligibility, participation, contribution, benefits, discrimination rules, among others. The powers and duties of the Trustee may be included in the Plan document but are often in a separate Trust document. The Trust document, on the other hand, describes the permitted investments.
Why does ERSOP charge a flat fee?
The Employment Retirement Income Security Act of 1974 (ERISA) states that the transaction is exempt from being a prohibited transaction if no commission is charged with respect thereto. If ERSOP charges a variable fee instead of a flat fee for service, the IRS could interpret it as a commission and subject the transaction to taxes and penalties.