No. of Recommendations: 0
emilynicole,

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!!

Ken

Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement