PLEASE NOTE: This information is intended for employers with existing 401(k) plans with actively participating employees. If you are interesting in starting or getting advice on a SOLO or individual 401(k) plan, please see the following resources.

Charles Schwab
Fidelity
T. Rowe Price

401kExchange is an independent market research firm dedicated to the company retirement plan industry. Because we don’t sell 401(k) plans, employers have relied on us to provide the independent and unbiased guidance and information necessary to start or maintain a company retirement plan.

As an employer providing a retirement plan benefit, it is the responsibility of the company officers involved to select the plan provider and monitor the investments ultimately offered through the retirement plan. It is also important that the selection of plan providers and investments is performed with “prudence” required under ERISA Law (Employee Retirement Income Security Act of 1974). This means that it is important to document a process of “due diligence” when selecting vendors.

There are three primary areas of service to be considered when selecting a 401(k) Plan Provider

• Recordkeeping / Administration
• Investment services
• Education services

The process of selection can be complicated by the fact that not all Service Providers serve all plan sizes. Many service providers offer plans only to employers of a specific size determined by the number of participating employees (small market, mid-market or large market plans).

Most employers simply don’t have the expertise in-house required to perform the search and selection process independently. Because of the potential fiduciary liability, we highly recommend that they seek the guidance of an independent (not directly affiliated with any plan provider) professional retirement plan advisor when searching for a new plan provider.

401kExchange has developed a nationwide network of Retirement Plan Specialist that can provide expert guidance in the plan provider selection process. This network of advisors is completely independent of 401kExchange and any one Plan Provider.

• If you would like to learn more about meeting with a professional Retirement Plan Advisor (not affiliated with 401kExchange), please fill out the form below.
  
• To view provider ratings based on satisfaction surveys of over 40,000 employers, please call 877-777-4015 or email Melissa Nixon at 401kExchange.