TheStreet: Four Things to Consider When Choosing a Retirement Plan for Your Small Business
Author: Siân Killingsworth / 14 Sep 2020
Retirement plans are no longer exclusive to large companies, with budgets to match.
Small business owners can now work with 401(k) providers to create affordable savings plans to attract, retain, and reward workers, not to mention save for their own futures. Ubiquity Retirement + Savings founder and CEO Chad Parks recently wrote an article and gave a video interview to The Street, giving small business owners 4 key considerations when choosing a plan provider.
Costs associated with the plan
Understand how your plan provider is getting paid, who is getting paid and how much.
Variety of investments available
Know which investments are offered in your plan, the variety of investments available and the expenses associated with them.
Flexibility of plan design
Consider the distinctive needs based on your ownership structure, goals, and number and types of employees.
Quality of customer service
Evaluate how the plan provider will deliver customer service to you and your employees.