xk49
New Member
Cash: $ 0.75
Posts: 3
Joined: 09 Apr 2012
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Which Retirement Plan? |
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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?
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Mon Apr 09, 2012 7:39 pm |
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Anton Martin
Full Member
Cash: $ 15.00
Posts: 73
Joined: 23 Nov 2012
Location: Florida, USA |
Re: Which Retirement Plan? |
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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?
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Mon Feb 25, 2013 12:33 pm |
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