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Author: KGWood One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 81591  
Subject: Re: Starting a 401k Plan Date: 12/13/1999 9:54 PM
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I agree with you totally - 401k plans are a really effective way of cutting down on turnover. You mention your FIL's shop is very successful. Maybe instead of a regular match, they do a match/employer contribution based on each year's profitability.

Unfortunately, there really aren't many major k-plan players that get excited about start-up plans. I work for a major financial institution that does a very good job with 401k plans - but I will NOT recommend them to you because we outsource small plans - and that doesn't make me very comfortable.

If I were in your shoes, I would at least try to get some info. from the major players - Vanguard, T.Rowe Price, Fidelity, Putnam, Scudder, etc... I agree with TheBadger - stay away from insurance companies - they really seem to have an agenda that is rarely in the interest of plan participants (annuities, guaranteed investment contracts - yuk!!). Be VERY careful if you have to talk to a broker - again, they have an agenda (check those fees!).

At a minimum, you want a "bundled" provider - someone that will handle investment management (maybe not necessarily their own proprietary funds, but will provide other's) as well as all administrative duties. This makes it a lot easier.

IMHO, you're a progressive thinker - keep it up!!


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