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URL:  https://boards.fool.com/new-retirement-plan-for-company-32945927.aspx

Subject:  New retirement plan for company Date:  1/8/2018  10:11 PM
Author:  mattbean12345 Number:  308 of 345

Hello All,

I work for a small company. (+/- 10 employees) We are considering changing our retirement plan to a 401K plan. (We currently have a simple IRA plan now with very expensive Fidelity Advisor Funds.) We have a quote from Paychecks to provide a 401K plan. I had a couple of questions:

1. Does anyone have experience with Paychecks 401K plans?
2. The companies who would be managing to accounts are GuidedChoice or Mesirow Financial. Does anyone have any experience with these companies?
3. The employee management fee is 0.7%. What do other small businesses pay for management fees?
4. It appears fund options will include brand name funds including Vangaurd, Oppenheimer, etc. Target date funds would be John Hancock, or State Street. In my brief looking at Morningstar the funds appear of reasonable quality and reasonable expense ratios.
5. We have just reached out to T Row Price and Vangaurd to get some other quotes. Any experience with either of these companies.

Any thoughts or ideas would be appreciated. We need to make this decision in the next couple days so the pressure is on.

Thanks,
Matt
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