PAYROLL COMPANIES HIGH COSTS 401K

vs

STORICK GROUP LOW COST 401K PLANS

Comparing the same type of service not only does the Storick Group save your company thousands of dollars spent ever year but we also beat them in service too. Using our preferred broker 401k plans, we can find a solution to save money, provide better selections on the best 401k plan for your company. We know that 401k’s are complicated which is why we also provide individualized meetings and workshops for on going education.

If you’re looking for a low fee 401k plan and still get the best investment options and simple 401k administration you’ve come to the right place.

Below are examples of actual high costs 401k pricing offered by top payroll companies.

Included in recordkeeping and administrative services:

Plan Sponsor Website

• Non-Discrimination Testing • Trustee Services including ERISA Bond
• 5500 Preparation with Audit Package • Participant Education and Communication Material
• Participant Website and Call Center  • Mobile Accessibility and Functionality

Payroll Company 401k Fees

Payroll Services 401k Plan Pricing

 

Recurring Plan-Level

Processing Fees

Estimated

Monthly Fee

 

 

Estimated

Annual Fee

Base Fee

$280.00  $3360.00

Recordkeeping/Administrative Services

(Per-Participant Fee)

$9.80 x 5  $588.00

Recordkeeping/Administrative Services

(Asset-Based Fee)

 N/A  N/A

Participant Advisory Services

Connectivity Fee

 $25.00  N/A

Cross-Tested Plan Compliance Testing

 $70.00   N/A

Self-Directed Brokerage

$100.00  N/A

Participant Notice Delivery

$2.50/notice

$2.50/notice

3(38) Investment Management Services

(Strategic Plan Services, LLC)

 $20.83  $250.00

Estimated Total Recurring

Plan-Level Fees

 $349.83  $4197.96

Storick Group Low Fee 401k Plan

 

Recurring Plan-Level

Processing Fees

Estimated

Monthly Fee

 

 

Estimated

Annual Fee

Base Fee

$0  $65

Recordkeeping/Administrative Services

(Per-Participant Fee)

$0  $0

Recordkeeping/Administrative Services

(Asset-Based Fee)

 Yes Yes

Participant Advisory Services

Connectivity Fee

 $0  $0

Cross-Tested Plan Compliance Testing

 $0   $0

Self-Directed Brokerage

$0  $0

Participant Notice Delivery

$0

$0

3(38) Investment Management Services

(Strategic Plan Services, LLC)

 $0  $0

Estimated Total Recurring

Plan-Level Fees

 $0  $65