Design Checklist

What To Look For In A 401k

These are the “must have” elements of a proper 401k program. If several of these are missing, it’s probably a good idea to scratch that provider from your list of candidates.
 
With American 401k, all of the essential features are included under one low fee with no hidden expenses. Pricing is transparent and straightforward with only employer fees as: $500 + $20 per participant annually and a custodian fee of 1/10th of 1% annualized. That’s it!

 

Design Checklist

The questions you should ask …American 401kOther 401k
Will The Provider Offer:YesYesNo
1. Retirement plan specialists?
Doing it right the first time means working with a financial professional who holds the credentials and experience to lead you on the right track.
Yes
2. A caring financial representative?
It sounds simple, yet in today’s fast-paced market, good service is not always easy to come by. More and more providers are shifting to exclusive online education which reduces their fees. Not us! We are here for you ongoing, in-person.
Yes
3. Fee transparency?
American 401k is one the most cost effective programs in the marketplace.
Total employer fee for American 401k:
$500 base fee + $20/participant/per year, custodian fee 1/10th of 1% annualized. As with any 401k for the mutual funds you choose, expenses apply per prospectus.
Yes
4. A true open-architecture investment platform? That means over 10,000 funds in the universe and complete flexibility to invest in any that are open to a 401k.Yes
5. No limit on the # of investment slots?Yes
6. Optional brokerage account with a securities firm of your choice?Yes
7. A live human representative, in-person at your enrollment meetings?
This is one area that we emphasize as a distinction from our competition.
Note: online enrollment is optional.
Yes
8. Toll-free live customer service?Yes
9. Morningstar Pro Snapshot Reports customized per employee?Yes
10. Morningstar.com fund research included with employee Internet access and daily statements?Yes
11. Rollover support to employees with previous employer retirement accounts or IRA(s)?Yes
12. Enrollment coordinator to help with new hires?Yes
13. Census management online?Yes
14. Signature-ready 5500 online at no additional cost?Yes
15. Integration with your payroll provider?Yes
For systematic processing and ease of contributions, this should be included.
16. Census management online?Yes
17. Annual compliance testing?Yes
18. Loan modeling online?Yes
19. Roth 401k at no additional cost?Yes
20. Safe Harbor 401k at no additional cost?Yes
21. New Comparability Profit Sharing - permitted employee classifications for contribution levels?Yes
22. Retirement planning tools online?Yes
23. Participant statements on-demand?Yes
24. Plan documents?Yes
25. Easy 30 minute setup?Yes

For existing plan holders, constructing of a new design requires a nominal additional amount of technical guidance which is included with no additional fees.

American 401k is a complete solution program which means that the IRS 5500 and all other tax forms are included without additional fees. The package also incorporates electronic transaction processing, daily Morningstar access for employees, and in-person enrollment. Let us know if you’d like a complete proposal and we will get one to you by E Mail right away!

PB&H Benefits, LLC (PB&H) provides all administration and record keeping responsibilities including a guarantee of personalized service. PB&H is a client-focused retirement and administrative services firm with a commitment to meet your unique goals. Benefit professionals provide individualized attention to your plan with customized design, primary point of contact for client service, and ongoing administration tailored to your business needs.