Are you satisfied with the state of your company’s 401k plan? As a plan sponsor, you may be thinking about the following issues:
- Should our plan offer our employees more investment choices?
- How can we make the plan more user-friendly?
- Is automatic enrollment a good idea?
- Is there a cheaper plan out there that might be just as good?
- Are we satisfying the 404(c) employee education requirements?
- Are we truly meeting our fiduciary responsibility?
- What steps could we take to try and reduce liability?
- How does our 401k plan stack up against others in terms of fund quality, costs, and fees?
- Is there a way we can monitor and evaluate investment performance?
Are your employees fully participating? Who do they contact with questions and how quickly do they receive answers? Do you feel like your company is capably fulfilling its fiduciary responsibility?
Many companies aren’t happy with their plan or their Advisor. It may be a service issue; it may be a desire to find a cheaper or more appealing alternative to the plan now in place. Having over a decade of experience with 401k plan programs, we are familiar with these issues and have helped businesses address them.
We can help you evaluate your current plan – or search for a new one. We consult companies about their retirement programs and help owners, HR officers and employees make informed decisions.
If you want to take a closer look at your options as a 401(k) plan sponsor, please call us or click here to get started.