Secure Savings Programs (or SSP) will be deployed in several states in the coming years. The states (including California, Illinois, Oregon, Colorado, and counting) will require small employers (those with 5 to 25 full-time employees) to offer employees either a 401k or a state-mandated secure saving program. What is the … read more
To Find out What’s Right About Backdoor Roth 401k Contributions go to the Blog at https://www.401keasy.com/blog
To Find Out What’s Wrong with Back Door 401k Contributions, Read the Following:
1) An employee using the Back Door Roth Contribution (BDC) feature must earn less than $140,000 in adjusted gross income if … read more
We believe 401k fees are unethical, unfair, and plain wrong. We hope that when you evaluate your 401k, you consider the impact these 401k fees are having on your retirement security.
It was recently reported in the financial press that today there are more “401k millionaires” than at any other … read more
President Biden hopes to encourage lower-and middle-income wage earners to save more for their retirement by making a significant change in 401(k) design.
American workers contribute pre-tax dollars to their 401(k) retirement savings plans, then pay taxes when they withdraw their money during their retirement years. This upfront tax break … read more
One under-reported consequence of the COVID is its impact on American workers’ 401k retirement plans. There will be a permanent adverse effect on Americans’ financial future due to these premature withdrawals in the form of 401k loans and 401k hardships. COVID’s under-reported impact on 401ks has been a ten-fold increase… read more
Bloomberg Law reports that class action lawsuits concerning 401k fees have seen a five-fold increase in the past 12 months! The word is getting out that 401k fees skimmed from employees’ retirement savings are starting to bite, and financial advisors pocketing these fees feel the heat. We think this is … read more
Most 40k advisors and their plan administrator partners are continuously skimming fees from workers’ 401ks. Think it’s no big deal? The fees they skim are small? Think again.
401k “pick-pocketing” costs the average worker $150,000, skimmed from t401k savings after a lifetime of work.
Watch this 2-minute video—It’s worth many … read more
We have been in the 401k administration and recordkeeping business for over 30 years. We provide small businesses with affordable, quality 401k plans, and charge a fair price for services rendered. What we do NOT do is deduct 401k fees from the employees’ personal 401k assets. In 30 years in … read more
Are we being unduly harsh when we refer to 401(k) financial advisors and 401(k) providers as 401(k0 pick-pockets? I don’t think so, and here’s why:
Most 401(k) participants are unaware of the fact that fees are being deducted every quarter from their 401(k)-retirement savings. AARP has done an expose on … read more