Searching for affordable 401K provider? Guideline? Any comments or suggestions?

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ccbay58
Posts: 2
Joined: Thu Apr 11, 2019 8:47 am

Searching for affordable 401K provider? Guideline? Any comments or suggestions?

Post by ccbay58 » Mon Apr 15, 2019 6:23 am

I'm a new member to the forum and I own a small retail business looking to offer retirement savings for myself and 3 employees. I have previously offered a Simple plan but find the 401K higher contribution limits attractive, especially for me as the owner who is trying to sock it away while I can :moneybag . Guideline appears to be the only affordable option at $40/month plus $500 start up. They offer exclusively Vanguard Funds :happy , choice of 30+ and charge no additional fees other than those charged directly from Vanguard and offer the simplified Safe Harbor 401K. My concerns are that they are a new start up, can their no fee business model work in the long term, what happens if it doesn't? :confused. What should I be asking? Any insights and suggestions would be appreciated. Thanks

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ruralavalon
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Joined: Sat Feb 02, 2008 10:29 am
Location: Illinois

Re: Searching for affordable 401K provider? Guideline? Any comments or suggestions?

Post by ruralavalon » Mon Apr 15, 2019 8:02 am

ccbay58 wrote:
Mon Apr 15, 2019 6:23 am
I'm a new member to the forum and I own a small retail business looking to offer retirement savings for myself and 3 employees. I have previously offered a Simple plan but find the 401K higher contribution limits attractive, especially for me as the owner who is trying to sock it away while I can :moneybag . Guideline appears to be the only affordable option at $40/month plus $500 start up. They offer exclusively Vanguard Funds :happy , choice of 30+ and charge no additional fees other than those charged directly from Vanguard and offer the simplified Safe Harbor 401K. My concerns are that they are a new start up, can their no fee business model work in the long term, what happens if it doesn't? :confused. What should I be asking? Any insights and suggestions would be appreciated. Thanks
Guideline is one possibility. Other small company 401k providers which have been favorably mentioned here are:
www.employeefiduciary.com; ; and
https://www2.ascensus.com/.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

smitcat
Posts: 3104
Joined: Mon Nov 07, 2016 10:51 am

Re: Searching for affordable 401K provider? Guideline? Any comments or suggestions?

Post by smitcat » Mon Apr 15, 2019 8:08 am

We have been using Employee Fiduciary for the past 3+ years and it has been running well for us - small business with about 9 persons in a safe harbor plan.

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