CBIZ Benexx is a 401k TPA focused on small and mid-sized businesses with a 98% client retention rate and experience administering PEO plans. They offer a single source solution for 401k plan design, administration, investment options, employee education and enrollment. Their approach provides more flexibility, lower costs and liability than traditional multiple employer plans. They work directly with PEOs and aim to increase client satisfaction by eliminating audit fees and making the 401k a true value-add rather than just another feature.

1. CBIZ Benexx 401k

2. CBIZ Benexx is…
• Focused on 401k plans to small and mid-
sized businesses
• Clients in 30 states
• Client retention rate of 98%
• Considerable PEO/ASO experience
• One of the nations largest 401k TPA’s

3. Our Background in PEO
• Founded HR Tech - Intraforce
• 10,000 WSEE’s
• Current Benexx staff has considerable
PEO experience
• HR Tech – Intraforce was one of the first
ASO’s

4. Current PEO 401k Marketplace…
• The old “Multiple Employer” model
• Few choices for PEO’s
• Most providers outsource administration
• Lack of customization at the client level
• Limited participant education
• Costly administration fees

5. Multiple Employer vs. Individual Plans
IRS Rev. Procedure 2002-21 by the IRS
(3) CO Options. The PEO must provide each CO with all of the following options:
(a) Transfer of assets and liabilities to CO plans. The CO may choose to have the
assets and liabilities of the PEO Plan that are attributable to Worksite Employees
performing services for the CO transferred to a retirement plan of the CO as provided
in
section 5.04(1). The transfer of assets and liabilities attributable to Worksite Employees
performing services for the CO to the CO’s plan must be completed on or before the
Compliance Date.

6. Multiple Employer vs. Individual Plans
• Less liability to PEO and client
• No annual audit (big savings $5,000-$20,000
annually)
• More flexibility in terms of plan design

7. Single Source Solution…
• Plan design & consultation
• Top investment options via American National
partnership
• Employee enrollment & consultation
• Complete plan administration
• Required IRS forms and reporting

8. Pro-Active Plan Design
• Professional assistance in plan design to maximize
employee participation and provide maximum corporate
benefit for each client individually
• Review eligibility provisions to see if they properly match
demographics
• Review testing/restriction provisions to promote
increasing participation levels?
• Review company match/bonus program maximize cash
flow and tax deductions?

9. Complete Plan Administration
• IRS approved documents
• Integrated data files, compliance admin, investment
tracking provides the ultimate turnkey solution
• On-going compliance testing, avoid year-end surprises
• Automatic and timely eligibility tracking/notification
• 5500’s, schedule A’s, etc
• Summary Plan Description
• Summary Annual Reports
• Loan/distribution processing

10. Employee Communications
• Initial and ongoing/onsite group education
meetings
• Asset Allocation education
• Decision making tools
• Age-Based Target Date Funds (Fidelity Inv.)
• Participant call center
• Employee self service via internet
• Unlimited, no fee access to independent Certified
Financial Planner

11. Service /Administration
• Direct contact with Benexx for everything,
integration between your PEO, the Client, and
the Participant
• Payroll by Payroll administration, not just funding
( HUGE DIFFERENCE )
• Departments, yet one source to go to (Same as
the PEO/ASO model)
• Secure integration of the necessary payroll data

12. 24/7 Participant Web Access

13. Website Technology
• Integrates with payroll data
• Pay date by pay date funding and tracking
(DOL requirements)
• Daily, unlimited transfers
• Daily valued
• Sponsor Level access to your PEO
• Sponsor Level access for each client

14. Benexx Plan Averages
 11 participants per plan (no minimum or
maximum plan size)
 $5,429 annual participant contributions
 59,719 annual plan contributions
 65% Safe Harbor Plans
 75% have recurring contributions
 10% make additional year end contributions

15. Benefits to the PEO Client
 Owners can save more money - (Proper Plan
Design / Education / LLC Partners*** )
 Employees save more for retirement
 Higher employee morale
 Benexx focuses exclusively on small
business 401k services, no distractions
 Larger plans get reduced asset management
fees (opposite of current model)

16. Benefits to Your PEO
 Higher Client Satisfaction
 Freedom from being trustee
 Elimination of annual audit charges
 401(k) becomes a true value, not just another service
 401(k) becomes marketing tool, not a feature
 Former PEO owners representing your firm in front of
the client
 Benexx will work with your PEO sales reps. to identify
potential clients and to drive new business

17. Our Custodian American National
• $16 Billion is Assets
• $3 Billion Capital & Surplus
• Founded in 1905
• Pension Administrators since 1974
• A.M. Best rated A+ (Superior)
• Standard & Poor’s rated AA+ (Very Strong)
• Forbes ranked as one of “America’s Most
Trustworthy Firms”

18. Best In Class Investment Options

19. CBIZ Benexx 401k
• No set-up, conversion or document fees (fees
have been waived not “buried”)
• $25 annual participant administrative fee
• Competitive Asset Management Fees –
advantages to individual client companies
• Continuous plan design review and employee
education
• 60 investment choices from multiple fund
families

20. Benexx and the Sales Process
• Provide targeted lists of PEO clients by region
• Provide targeted lists of Paychex 401k users by
region
• Provide competitive intelligence for proposal
generation
• Assistance on sales calls
• Utilize the PEO experience of Benexx to assist in
closing the sale
• Focus efforts on high dollar clients that value
deferring money into 401k over savings on WC and
SUI

21. Who We Target
• Companies currently using PEO Services
• Companies currently utilizing ADP/Paychex for both
payroll and 401k (avg. savings $1500-$3500 just for
401k administration)
• Companies using Third Party Administrators for 401k
i.e. Lincoln, Nationwide, John Hancock etc. (avg.
savings $2500-$5000 just for 401k administrations

22. How We Get In The Door
• Focus on white collar professional/high tech firms
• “Because of our economies of scale we are able to
provide this benefit at not cost”
• “See if your company qualifies”

23. Questions ?