What are the total fees and costs?
There is no set up fee for any of our 401k plans. For Solo 401k plans, (including spouses) our total administrative fee is a quarter point of the value of the 401k plan each year. A quarter point is also expressed as one fourth of one percent ( of 1%) or (%) or (.25%) or (25 basis points) of the 401k plan value. This is a yearly administrative fee payable to 401kAdministrators.com as the Third Party Administrator (“TPA”). (For every $10,000 in plan assets it is a $25 annual fee and for every $100,000 in plan assets it is a $250 annual fee. There is a minimum fee of $100 per participant annually). For 2+ employee 401k plans, (meaning the owner and at least one non-spouse employee) our total administrative fee is a quarter point of the value of the 401k plan each year plus a flat fee of $1,000 per year. There is no minimum fee per participant on Company 401k Plans. There are no additional fees. We personally answer questions, provide plan design and plan document establishment, amendment
