For small businesses, multiple employer 401k plans (MEPs) are often promoted as a cost-effective and simplified solution for offering retirement benefits. While MEPs can offer some notable advantages, they’re not always the best fit for every business. Understanding the pros and cons of these plans can help small business owners make an informed decision.The Advantages of MEPsThe two main benefits…

Switching 401k providers is often not a top priority for small businesses. For many plan sponsors, the process can feel daunting and time-consuming. A lack of familiarity with the retirement plan industry and limited information on available options frequently leave plan sponsors relying on financial advisors to help them navigate the decision. Despite these challenges, companies commonly switch 401k providers…

Providing a 401k plan for your small business can be a game-changer for both you and your employees. It not only helps attract and retain top talent but also offers valuable tax benefits. However, choosing the right 401k provider can feel overwhelming, especially with so many options available. This guide will walk you through the key factors to consider, so…

Figuring out what participants are paying retirement plan service providers has long been a source of confusion for plan sponsors. Despite the Department of Labor’s stricter fee disclosure requirements, many sponsors still struggle to fully understand the fees associated with their 401k plans. In fact, some sponsors became less inclined to investigate fees after the disclosure regulations were enacted, assuming…

If your company is changing its 401k provider, you may have questions about how this affects your retirement savings. While provider transitions are common, they can lead to temporary disruptions and adjustments. Here’s what you need to know about the process and how it impacts you.Investment Transfers and Fund SelectionOne of the biggest changes participants might encounter is how their…