No Fees 401k is exactly what it sounds like --- a 401k plan for small business with no 401k fees "skimmed" from employees’ 401k retirement savings---ever!
The No Fees 401k saves both employer and employees thousands of dollars annually by rejecting the common industry practice of skimming hidden and ‘not-so-hidden’ 401k fees from 401k participants’ accounts. 401k fees skimming is done constantly by almost all 401k advisors and their 401k partner-administrators---but it's NOT done by us---EVER!
We were thinking of calling our new no fee 401k service the Low-Price 401k because it's the lowest cost 401k for small business available anywhere.
Or we could have called it the Small Business 401k because it's a 401k priced for small business, and also very small, micro-sized businesses.
We were considering the name 401k With No Fees because we believe all asset-based 401k fees should be illegal. According to non-profit AARP, 401k fees skimmed from 401k plan assets is the single most crucial factor in selecting a 401k for your small business. Skimmed 401k fees will cause severe and permanent damage to your employees' retirement security.
The name Self-Directed 401k was under active consideration because each employee controls and self-directs their personal 401k at well-regarded discount brokerages like Charles Schwab, Vanguard Funds Brokerage, Fidelity Funds Brokerage, and many more.
Or we could have named it the "Ikea" of 401k plans for small business because it's a high-quality, low-priced 401k that sets-up fast, and is ready to use in 15 minutes or less.
Or we could have called it the Try Before You Buy 401k because you can test drive No Fees 401k interactive online demo. You, as the plan sponsor, can experience No Fees 401k from your vantage point as 401k sponsor, and as a 401k participant.
No Fees 401k, "little brother" to 401k Easy, offers essential 401k features. It's a complete, IRS-approved, and "ready-to-use" 401k for small business.
401k Easy, No Fees 401k's "big brother," offers additional low-cost 401k features popular with both owners and employees of small businesses.