Article in Summary:
- Many small business 401k providers are more interested in generating revenues for themselves than maximizing your employee’s retirement savings.
- Independent third-party administrators (TPA) are pension plan specialists that design a better 401(k) plan
- The savings in fees from using a TPA can result in s 28% increase in retirement savings
The vast majority of small business 401(k) providers are broker dealers and insurance companies who provide a “bundled service.” In other words, the design of the plan, the investment selection, and the custodian are all the same company. These “plan salespeople” are often not well versed at …Read More