What To Look For In A 401k
|The questions you should ask …||American 401k||Other 401k|
|Will The Provider Offer:||Yes||Yes||No|
|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.
|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.
|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.
|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.
|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.