Low Fee 401k.com
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Our Process Plan Design When you make the decision to move forward we work with you and the plan administrator to design a low cost 401k plan that fits the needs of you and your employees and complies with all applicable regulations. We will consider if the plan should be weighted by age, compensation, or length of service. We help you choose the eligibility, vesting, and safe harbor provisions that will work best for your company. Additionally we help in selecting options such as a Roth 401k provisions and loan provisions. Employee Education and Enrollment meetings Once the plan is in place we will help you to introduce the plan to your employees. We provide online meetings to explain plan features, matching provisions, investment options, and to answer questions they may have. We will arrange for each employee to receive the appropriate plan documents, sign up forms, and prospectuses. Each employee will also be offered an opportunity to complete and submit a personalized risk tolerance questionnaire which can help them in making their investment decisions. In addition to prospectuses we will provide you with research reports from Morningstar for each investment option and hypothetical illustrations that you can share with your employees to help them in their selections. Ongoing monitoring and Reporting Each quarter we will provide a .PDF report that reviews the performance of each investment option, commentary on significant changes, and recommend changes where appropriate. This ongoing monitoring makes it easy for you to document your compliance with your fiduciary duties. Additionally we will offer your employees annual online meetings to review their 401k plan, the investment options, and their answer questions. Request A Proposal |