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The IMANA Multiemployer 401K Plan

What it is:

  • A 401K plan that is adopted by two or more employers.
  • Synergy occurs when multiple employers adopt the same plan (platform), thus creating administrative efficiency, collective purchasing power, and lower cost.
  • Individual employers are able adopt the same plan in order to capture the benefits; however, their plans are specifically tailored for their own needs.
  • The aggregation of multiple plans under a master plan, allows the participating plans to receive Institutional pricing and Invest in lower cost institutional funds.
  • The IRS and Labor Department allows these type of plans to streamline their administrative processes and reporting thus substantially reducing overall cost.

What it is not:

  • This plan is not available for individual participation. You must be an employer in order to adopt the plan, only then are you and your employees are able to participate.
  • This plan is only available to IMANA members.  At least one employee in the plan must be an IMANA member in order to participate.

Who can use it?

  • Any formal structure (C CORP, S CORP, LLC…etc.) including 1099’s, that has at least one IMANA member as an employee.

Benefits of the IMANA Multiemployerr 401 (k) Plan:

  • A host of Shariah Compliant Investments and strategies.
  • Substantial cost saving that can be as high as 70% when compared to traditional plans.
  • 27 Individually Selected conventional Institutional No-Load Funds that are best in Class and are ranked the highest in their categories.
  • Enhanced Fiduciary Oversight that reduces overall exposure to members who are owners or act as a Trustee on their plan.

For more information contact:

Ashraf Elghandour | VP of Investments | UBS Financial Services
[email protected] • Tel:  973.360.4384

Learn More

ISLAMIC MEDICAL ASSOCIATION OF NORTH AMERICA
101 W. 22nd Street, Suite 104, Lombard, IL 60148
Phone: 630-932-0000

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