Welcome to our newsroom – a hub for all the latest media content featuring Employee Fiduciary and our CEO, Greg Carpenter. With our expertise in small business 401(k) plans, 401(k) industry trends, 401(k) recordkeeping and transparency (or lack thereof) in 401(k) fees, we are regularly tapped by the media to share our insights and opinions.
See our recent coverage below.
Don’t Get Duped by Investment Fees
November 27, 2012
According to Greg Carpenter, chief executive of Employee Fiduciary, retirement investors are better off choosing passive mutual funds like an index fund or an ETF for their portfolio to avoid fees and have a greater portion of their money grow. “You really need to figure out why you’re paying (for an actively-managed fund) because a lot of the time you have a match from your employer. Why do you want to chase an additional return when you get a match,” says Carpenter.
Old School: The 401(k) Paper Chase
November 15, 2012
I recently spoke with Greg Carpenter, founder of Employee Fiduciary, a small business 401(k) administrator, who agreed that lack of clarity on plan expenses and share classes – whether a conscious decision on the part of the industry, or not – are probably a more important topic for advocates to tackle.
10 Things 401(k) Plans Won’t Tell You
November 9, 2012
Early contributors to 401(k) plans were mostly high earners, since they had the biggest tax bill and thus the greatest incentive to sock away pretax dollars in the plans, says Greg Carpenter, CEO of Employee Fiduciary, an independent administrator of 401(k) plans.
Paring 401(k) Expenses
September 11, 2012
Greg Carpenter, chief executive of Employee Fiduciary in Mobile, Ala., which provides retirement plan services, said the Labor Department disclosures “won’t show what kind of deal you’re getting” from your retirement plan. “The cost is not fully delineated,” he said.
What Small Businesses Should Look for in a 401(k) Plan
July 26, 2012
“Fees matter,” Carpenter says. “Over a long period of time even a quarter of a percent or less makes a huge difference in the value of the investment at retirement. The plan sponsor who has his or her eye of the ball needs to know this so they can make the best decisions about the employee’s money.”
4 key items to look for in new 401(k) disclosures
July 5, 2012
“You’re probably going to be in this 401(k) for a long time, so it’s your right to continually ask questions,” says Greg Carpenter, CEO of Employee Fiduciary, a Mobile, Ala.-based adviser to companies offering 401(k)s. “The disclosure you get shouldn’t be the end of your employer’s commitment to you. So don’t be afraid to make noise.”
New Fee Disclosure Rules Could Shake Up 401(k) World
June 24, 2012
Carpenter, founder and chief executive of Employee Fiduciary, suggests that advisers keep it simple by breaking down costs into three buckets: investment fees, advisory fees and everything else that they need to run a plan.
After Years of DOL Bluster, New 401(k) Rules Appear to Make RIAs’ Low Expenses Look Higher than Those of Brokers
June 18, 2012
“These rules are kind of like our Articles of Confederation — which came before the Constitution. They stunk, but this isn’t the Constitution. This is the Articles of Confederation. I think they’ll come back, and we’ll get something better. The people who are engaged and will care enough have significant money in the plan,” Carpenter says.
Finally, A Decent 401(k) for Small Business
November 1, 2011
Then, several months ago, I discovered Employee Fiduciary Corp. This 401(k) administrator offers only Vanguard funds (which invariably have among the lowest operating costs in their category), and its administrative fees are rock bottom. Record keeping and administrative fees were only $1,500 annually for plans with under $1 million and 0.06% of assets for plans with more. There is also a one-time startup fee of $500 for a new plan and $1,000 to modify an existing plan. In my personal blog, I called this the best small biz 401(k) provider.
Company news releases are posted below. Be sure to check back often to stay connected with the latest on Employee Fiduciary.
Employee Fiduciary Launches New Corporate Website
December 12, 2012
MOBILE, Ala.–(BUSINESS WIRE)–Employee Fiduciary, LLC, a privately held and independent 401(k) recordkeeper, announced today the launch of www.employeefiduciary.com, their recently redesigned website.
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|Drew Mauck, 3Points Communications
Office: (312) 725-7950
Cell: (773) 203-5456
|Lorna Kiewert, 3Points Communications
Office: (312) 725-7951
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