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SIMPLE IRA Plan vs. 401(k) Plan

Employers often ask which plan is better.  While there is no true right or wrong answer, one could make a strong case for a 401(k) plan.  Most employers gravitate towards the SIMPLE IRA plan due to its simplicity with minimal administrative responsibilities and low expenses.  However, if the employer is willing to make the extra effort and cover certain plan expenses, a 401(k) plan is the better solution for both the employer and employees. Contributions There is a significant difference in allowed

How Much Is Your 401(k) Account Costing You?

While an employer-sponsored retirement plan provides you a valuable benefit, not all retirement plans may be beneficial to you.  According to Deloitte’s 2019 Define Contribution Plan Survey, about 57% of retirement plans have plan fees deducted directly from the participant account either on a pro-rata or flat-dollar amount basis.  This means less money is working towards your retirement. Your employer, as a fiduciary for the plan, has the responsibility of finding the most cost-effective service providers for the plan.  Even with