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 401k service the Low-Price 401k because it's the lowest cost mass-market 401k for small businesses available today.
Or we could have called it the Small Business 401k because it's a 401k priced for small, and very small, micro-sized businesses.
Then we thought about naming it the Self-Directed Brokerage 401k because each employee self-directs and controls his or her 401k retirement savings through well-regarded discount brokerages like Charles Schwab, Vanguard Funds Brokerage, Fidelity Funds Brokerage, etc.
Or we could have named it the "Ikea" of 401k plans for small business because it's a high quality 401k at a very low price, sets up fast, and is ready to use in 15 minutes or less.
But we ultimately settled on the name No Fees 401k because we believe the 401k fees we shun should be made illegal. 401k fees (or the lack of them) is the single most crucial factor when evaluating a 401k plan for your small business because 401k fees will cause severe and permanent damage to your employees' retirement security.