I have a small business with 5 employees. We have been using a broker to help with our Simple Plan retirement funds. We have been paying him a commision on each new dollar. This seems to be contrary to the concept of the Simple Plan and no load Mutual Fund investing. So far I have found that Fidelity is the only site that offers a Simple Plan package. Janus and Vanguard, don't even mention the Simple Plan option. Why is it so difficult to get information on this approach?Is this not a good idea?
I have a small business with 5 employees. We have been using a broker to help with our Simple Plan retirement funds. We have been paying him a commision on each new dollar. I am very confused. Did you open a Simplied Employee Pension IRA (SEP-IRA)? And, you are paying a commission for each dollar invested? If you are talking about a SEP-IRA, your broker should only be charging a commission for stocks purchased and sold. In addition, the brokerage is allowed to charge an annual administration fee, which is nominal. My SEP-IRA is set up through Morgan Stanley and there are no such charges to which you refer.Donna
GeoLesWe use Vanguard in our business and use the Simple Plan as you're talking.Just call there 1-800-662-7447 #, they take very good care of us and offer service to our employee's by phone.This was a very easy plan to understand and the packages are complete.sameally
I use T.Rowe Price for my SIMPLE. Had no problems!jbw
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