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The cost of your customized Advisors 401(k) plan and 401k plan administration system . |
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The cost of your customized Advisors 401(k) plan and 401k plan administration system . |
| PLAN SIZE (in number of eligible employees) |
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ADVISORS 401(k) FEE |
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| 1 eligible employee (plus spouse) | $395 |
| 2-4 | $495 |
| 5-11 | $595 |
| 11-15 | $695 |
| 16-20 | $895 |
| 21-25 | $1045 |
| 26-30 | $1195 |
| 31-35 | $1345 |
| 36-40 | $1575 |
| 41-45 | $1725 |
| 46-50 | $1875 |
| 50+ | ($1875 plus $200 for each additional 5 eligible employees) |
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With Advisors 401(k), there are...
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Many 401k plans contain significant hidden fees. This is especially true of 401k plans offered to small companies, where it is easier to hide fees from small business owners, who are busy running their businesses and do not have the time or staff to review all the legal mumbo-jumbo of setting up a new plan or reviewing plan documents. These hidden fees are being lifted from the back pockets of 401k plan participants. The US Department of Labor is trying to force 401k plan providers (banks, mutual fund companies, insurance companies, brokerages, etc.) to come clean about these hidden fees. But there is significant lobbying power at play to stymie the government's effort to force comprehensive 401k fee disclosure. According to a recent study by the ICI (Investment Company Institute) and Deloitte titled, "Defined Contribution / 401(k)
Fee Study". the average 401k plan has hidden fees of 0.72% per year. That may not seem like much, but it costs the average participant about $11,000 in hidden fees for the lifetime of his or her 401k. These fees are extracted directly from the 401k participant's account. In their study, ICI and Deloitte call these hidden fees "all-in" fees. The average hidden "all-in" fee of 0.72% equates to $350 per year, extracted from participants' accounts. For small 401k plans that cover less than 20 employees and less than $1 million in total assets, the hidden "all-in" fee situation is much worse. For small 401k plan participants, hidden "all-in" fees can jump from 0.79% to a whopping 1.89%, or up to $920 per plan participant per year! For small plan participants, this can mean paying an astounding $28,000 in hidden fees for the lifetime of his or her 401k. See pages 6, 16, 19 and 20 of ICI/ Deloitte report by clicking the report cover. If you are selecting a 401k for your employees, did you know they could be unknowingly losing $350 to $920 a year in hidden fees? In most 401k plans, large and small, the employer pays the 401k plan's annual record keeping fees. These fees vary; below is a representative sample of annual record keeping fees: So it's not rocket science to understand why many plan providers in the 401k industry are blowing smoke to make any discussion about hidden or "all in" 401k fees confusing and bewildering. There is a great deal of money at stake, and all this smoke clouds the fact that many small employers are unknowingly offering their employees 401k plans laden with hidden fees. Hidden and "all-in" 401k fees are getting noticed by the news media and the legal profession via class-action law suits, and some 401k plan providers that made fortunes mining hidden fees are now scrambling to cover their tracks. They are generating the kind of PR confusion many of us remember from years past, when major tobacco companies tried to explain to Americans that smoking was not hazardous their health. Many in the 401k industry are launching the same kind of PR assault, confusing and clouding the issue, but what is really at stake is the end of their 401k hidden fee gravy train, pure and simple. |
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We compared the cost of a complete, fully-customized Advisors 401(k) system with the cost of bundled plans offered by a broad cross-section of major national vendors. It's not a perfect comparison, of course: their plans include off-site administration, but ours include superior investment choice, superior plan flexibility, superior asset security, MONTHLY employee statements, MONTHLY compliance testing, and so on. |
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Advisors 401(k) you save 60% or more off the lowest-priced national vendor plan! |
According to HR Investment Consultants in Towson, MD, publisher of the "401k Provider Directory, "the cost of running a 401k plan with 25 participants and $750,000 in assets can range from as little as $6,750 per year to as much as $20,000, depending on which 401k vendor you select. (Sources: Nation's Business, September 1998, Myers, Randy "Your 401k Plan May Cost You Too Much." Business Week Online, July 2000, Brenner, Lynn "A Wealth of Choices.") So...
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Since the exact price you pay for Advisors 401(k) depends on the investment approach you choose for your plan, how much you save varies with the investment approach you choose -- and remember while you look at these price comparisons that with Advisors 401(k) there are no trustee fees, no fees for including or excluding any of our plan customization options, monthly (not quarterly) employee account statements, monthly (not semi-annual or annual) compliance testing, and more -- things other 401k providers charge extra for, if they even offer at all!
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Your Advisors 401(k) system comes with a 30-day money-back guarantee on everything but the $495 first-year-only plan and 401k software fee. Because this fee is non-refundable, we recommend people considering Advisors 401(k) try out the software, the core of our Advisors 401(k) system.
Whether downloaded or accessed off a CD-ROM, our 401k plan administration software demo gives you a fully-functioning version of our 401k software. We customize the demo with fictitious data regarding a fictitious company's 401k plan. You can try out the software's many features and time-saving capabilities. Included is an interactive tour to get started. Our goal at Advisors 401(k) is to ensure that all our clients and their employees have 401k plans they feel good about. If your company purchases Advisors 401(k) and then down the road decides the run-it-yourself approach is not the approach for you, give us a call: We can convert your Advisors 401(k) plan into a traditional, full-service plan at any time. With Advisors 401(k), you're never locked in! |
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Under federal regulations, the $495 one-time set-up fee your company pays for a 401(k) Easy may be refunded in the form of a federal tax credit. Most new 401(k) Easy plans qualify to receive this dollar-for-dollar refund, but there are some restrictions. If you are interested in receiving this tax credit, please consult your tax advisor. |
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One of the great things about Advisors 401(k) plans is that we work with you to shape our IRS-approved prototype 401k plan into one that optimally suits your company's 401k needs. Because we don't charge extra for including or excluding any plan customization items, you can make your decisions based solely on what is best for your company plan. We then hardwire your plan customization choices (eligibility requirements, loan availability, etc.) into your Advisors 401(k) software, empowering the software to take care of most of your 401k plan administration work for you.
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Because Advisors 401(k) plans are designed and IRS-approved as employer-trusted, your company does not need to hire (and thus pay) and outside trustee.
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Advisors 401(k) comes with EVERYTHING you need to run your company 401k plan in-house:
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All you do is pay your plan fee for the upcoming year (as you would with any 401k plan) and we'll send you your up-to-date customized Advisors 401(k) package. Data from your previous year's 401k software is automatically transferred into your new year's version at a mouse click during the installation process! Then you're ready to go with up-to-date forms, educational materials, and 401k administration and federal reporting guidance. It is important that you maintain this, or another plan, otherwise you risk disqualifying your plan. |
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Advisors 401(k) pricing
No trustee fees.
401k Comparisons and the True Impact of Hidden 401k Fees
You save $$$ by doing your 401k
plan administration in-house with
Advisors 401(k) 25-participant
plan costs only $1045/yr
Advisors 401(k)'s 30-day money-back guarantee
Uncle Sam Wants to Help Launch
Your 401(k) Easy.
Advisors 401(k)'s customization
fee is a one-time charge.
Click the US Department of Labor 401(k) Cost Comparison Worksheet below for a
printable PDF version.
Advisors 401(k) means NO trustee fees.
Advisors 401(k) includes
EVERYTHING you need.
You're never locked in
to run-it-yourself 401k plan administration.
You receive an upgraded
401k plan administration system every year.
Taxes, shipping and handling are included in all prices.