Local and state chambers of commerce can use these easy to read and understand step by step instructions and explanations to sponsor and market one 401k plan to the employees of all of its employer members. Chambers of Commerce can thereby relieve their member employees from having to setup and administer a 401k plan themselves. This will decrease employer fees and expenses and increase access to 401k plans. Many smaller employers, lacking the money or human resources necessary to sponsor a 401k plan can now simply execute a joinder agreement with a chamber sponsored plan that has at least one chamber employee also participating in the 401k plan. Each employee gets an individual self-directed brokerage accounts at TD Ameritrade and may purchase active and passive (index) mutual funds, target date funds, as well as stock, bonds and options and may use investment advisers of their own choice and at their own expense. Neither the Chamber nor the third party administrator providing services, 401kAdministrators.com, provides any investment advice or receives any compensation for investment advice. Under the newly proposed (October 23, 2018) Department of Labor regulations for multiple employer 401k plans, Local, Regional and State Chambers of Commerce may soon be able to offer one 401k plan to all of the employees of their member employers. For Chambers of Commerce interested in offering a 401k plan to the employees of its members (and consequently relieve the employer members of the burden and expense of running their own 401k plan), 401kAdministrators.com provides an IRS approved 401k mulitple employer plan (MEP) documents accompanied by a favorable determination letter in the name of 401kAdminstrators.com. 401kAdminstrators.com also supplies the Chambers of Commerce with a joinder agreement (for their participating employees to sign), a board consent form, a summary plan description and plan highlights along with forms necessary to enroll an employee (account opening forms, beneficiary designations and wage or salary deferral election forms). 401kAdministrators.com will also assist the Chamber as the Third-party Administrator and secondary recordkeeper and perform enrollment, compliance, testing, and reporting functions through the Mrs401k.com web portal. TD Ameritrade provides investment accounts and choices in self-directed individual brokerage accounts and serve as the custodian of assets and clearing firm for trading. Participating employers incur no fees to participate but are required to report all employee salary deferral contributions (elective deferrals) and any employer matching contributions. Chambers of Commerce may choose to offer pre-tax (traditional 401k) accounts and/or ROTH after-tax accounts. Chamber401kPlans can deliver the back end administration, reporting, testing and compliance and white label a low cost high quality 401k plan for your local Chamber of Commerce. With participant self-directed brokerage accounts at TD Ameritrade, Chambers of commerce may employ the fiduciary safe harbor of 404c in 401k plan documents provided and maintained by 401kAdministrators.com. Please call the author, Craig Lewis Gillooly, Esq. at 858-454-7090 at your earliest convenience with any questions and to discuss business development for your chamber of commerce.