I just transferred my companies payroll service provider from Paychex to ADP, and with it transferred my 401K plan. Paychex informed me that they charge $1200 to transfer the 401K plan. Has anyone got around this fee?
I should mention that it is a small company, only me plus 3 active employees. Plus 4 past employees with money still in the 401K. I looked at Employee Fiduciary but its cost are higher than either Paychex or ADP. Plus they do the payroll which is the most important thing