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Which Retirement Plan?

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Money Talk > Retirement Planning

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xk49
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Which Retirement Plan?  Reply with quote  

When my business partner and I started our company five years ago, we set up SEP as part of our retirement plan. We have always contributed the max amount allowed in a SEP ~50k each year, which just happens to be just about 25% or our salary. In the near future we will have several employees who will be eligible to participate in the SEP, which we want to avoid. When we started the SEP, we never envisioned having employees > 3yrs. We are now starting to look into other 401k alternatives.

Right now it's pretty straight forward for us: The business cuts a check to the banking institution managing our SEP, we take it to the banks financial advisor, he deposits it into our portfolio funds and we're done.

Are there any straight forward 401k alternatives? Do all 401k's need a third party administrator? What's an average cost of admin fees for 401k's?
Post Mon Apr 09, 2012 7:39 pm
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Bobby Dhanjal
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Here is an article about 401k alternatives:

http://www.investopedia.com/financial-edge/1211/the-best-alternatives-to-a-401k.aspx#axzz2E4tvz43j

Hope that helps.
Post Tue Dec 04, 2012 10:35 am
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Anton Martin
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Re: Which Retirement Plan?  Reply with quote  

I would like to recommend you to hire Certified Financial Advisor for your company and get your all financial & investment planning done with help of your financial advisor. You can decide with new retirement plan option for you and your employees too if you take experience & expert advice for it.

quote:
Originally posted by xk49
When my business partner and I started our company five years ago, we set up SEP as part of our retirement plan. We have always contributed the max amount allowed in a SEP ~50k each year, which just happens to be just about 25% or our salary. In the near future we will have several employees who will be eligible to participate in the SEP, which we want to avoid. When we started the SEP, we never envisioned having employees > 3yrs. We are now starting to look into other 401k alternatives.

Right now it's pretty straight forward for us: The business cuts a check to the banking institution managing our SEP, we take it to the banks financial advisor, he deposits it into our portfolio funds and we're done.

Are there any straight forward 401k alternatives? Do all 401k's need a third party administrator? What's an average cost of admin fees for 401k's?
Post Mon Feb 25, 2013 12:33 pm
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