Barrett Business Services, Inc

Barrett Business Services, Inc

Retirement Savings Plan

Barrett Business Services, Inc. (BBSI) offers a qualified multiple employer 401(k) plan to its clients. As each client adopts our plan, they individually determine participant eligibility, entry, and employer contributions.

BBSI has partnered with Transamerica Retirement Solutions to provide a wide variety of investment options, which enables participants to invest according to varying risk tolerance, savings time horizon, and other financial goals.

BBSI is responsible for all plan administration requirements on behalf of our adopting clients. Participant enrollments, deferral set up and changes, employer match calculations, employee and employer contribution reporting to Transamerica, plan amendments, 5500 filings, audits, non discrimination testing, and participant distributions.

BBSI has engaged the expertise of Morgan Stanley as the appointed investment advisors for our sponsored 401(k) Plan through Transamerica Retirement Solutions. At no additional charge we offer unlimited access to financial planning services to our adopting clients and their employees.

The fees associated with the adoption and participation in BBSI’s sponsored 401(k) plan are:

Client Fee charged by BBSI:

One time initial account set up fee of $250 per client, due at time of plan adoption.

Annual administration fee of $300, billed quarterly (pro rated) to the client ($75).

Client voluntary termination fee of $1,000 if less than 1 year participation in the plan, and a $500 fee if less than 2 years participation in the plan.

Terminated clients with assets still in the plan, 90 days after terminating services with BBSI, will be charged a quarterly administration fee of $250.

Participant Fee charged by Transamerica:

Annual recordkeeping fee of $33 (pro rated quarterly $8.25) deducted from the participant account.

Expense ratio charge varies based on the investment selected by the participant (from .88% to 1.46%), charged to participant account.

Annual Contract asset charge based on the entire value of plan assets under the BBSI multiple employer plan. As of 01/01/2015 the fee is at .32%. This fee will continue to reduce as the plan assets grow.

401(k) loan initial set up fee of $50 and annual ongoing fee of $50 until loan repaid.

No distribution fees, or front end or back end charges.

If you are interested in receiving further information regarding our 401(k) Plan please contact your local BBSI representative to complete a 401(k) client survey.

Completion of the survey does not require you to adopt our plan. It provides Transamerica Retirement Solutions basic information in order to send you a complete packet on the Plan offered by BBSI.