Download the Definitive Guide to Small Business 401(k) and learn everything you need to know as a small business owner.
Small businesses are overlooked in the 401(k) industry and charged higher fees because they have fewer employee participants and smaller account balances.
At Ubiquity, helping small businesses with affordable retirement plans is, and always has been, all that we do.
It is important to understand the types of fees that may be assessed in a 401(k) plan and who can pay those fees, so you can make smart choices when it comes to your retirement savings. In fact, the retirement plan rules require the employer offering the plan to keep an eye on plan costs to ensure they are reasonable based on the services received. The employer must pay some 401(k) fees, and some are deducted from employees’ 401(k) accounts. Here are the fees that typically occur in a 401(k) plan and how they can be paid.
Plan Administration Fees
Fees for day-to-day operation of the plan, including recordkeeping and trustee services
May be paid by employer or from plan’s assets (debited from employees’ accounts)
Assets Under Management (AUM)/Investment Fees
Fees for investment management, marketing, and distribution of an investment product, including sales charges or commissions
Deducted directly from investment returns in employees’ accounts
Individual Service Fees
Fees for a transaction or service affecting one employee (e.g., loan, investment advice)
Typically charged to the affected employee’s account, but may be paid by the employer
Fees for services primarily benefiting the business (e.g., forming the plan, tax consulting)
Must be paid by employer
For businesses with no full-time employees except the owner/spouse/partnerPurchase Now Get your Single(k) guide
Small businesses and startups looking for simplicity and tax savingsFree consultation Get your Express(k) guide
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Since 1999, Ubiquity has remained committed to a very low, flat-fee, monthly subscription model.
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Don’t erode your retirement nest egg with excessive, additive administrative fees. Most of our competitors charge a percentage fee on your growing total account balance. Ubiquity’s flat, monthly, fixed subscription fee means you don’t pay an administrative fee based on the amount you have saved.
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