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Small Business 401(k) Blog

The Frugal Fiduciary Small Business 401(k) Blog

Get the latest industry news, deadlines and tips you need to know to help tackle your fiduciary responsibility needs.

Holly Roussel-Godfrey

Holly Roussel-Godfrey joined the Employee Benefits industry in 2005 as head of marketing and sales for ftwilliam.com, a plan document and government forms software provider. Holly was responsible for developing successful marketing and sales strategies for each of the company’s software modules. Because of her passion for customer service, Holly was selected to develop a highly effective training program for Third Party Administrators and Advisors after the company was acquired by Wolters Kluwer in 2009. As Vice President – Marketing & Sales for Employee Fiduciary, Holly is responsible for the sales team as well as all marketing initiatives for the company, including inbound marketing and social media. Holly earned her BS degree in Marketing from the University of Wisconsin – Milwaukee.

Blog Feature

Retirement Plan Types | Plan Design

403(b) vs. 401(k) Plans for Non-Financial People

By: Holly Roussel-Godfrey
July 26th, 2017

You’ve been taxed with the responsibility of setting up a retirement plan for your tax exempt organization and now you’re trying to decide between a 403(b) or a 401(k) plan. You’ve Googled, you’ve read, you’ve cringed at the technical language presented to you, desperately trying to understand the differences. Been there, done that.

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Roth 401(k) | Plan Design

What’s Old Is New Again: “Mega Back Door” Roth IRA Contributions Spark New Interest in Old School After-Tax Contributions

By: Holly Roussel-Godfrey
May 24th, 2016

Ever hear of voluntary 401k contributions? If you are like most people, probably not. They are after-tax employee contributions like Roth deferrals, but subject to different ERISA rules. Voluntary contributions have been around decades longer than Roth deferrals, but are less popular – mostly because their earnings can’t be withdrawn tax-free at retirement like Roth deferrals.

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401(k) Plan Design Checklist

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Subscribe to the The Frugal Financial Small Business 401(k) Blog and receive this free checklist for help in determing the best 401(k) plan design options and fit for your company.

Blog Feature

Employee Enrollment | Plan Design

Plan Participation Problems? No Problem

By: Holly Roussel-Godfrey
May 10th, 2016

You’ve made the decision to establish a 401(k) plan for your small business, but you’re concerned inertia or procrastination will prevent employees from using it. You know many workers think “I can’t afford to save much so there’s no point of saving at all” or “it’s OK for me to postpone savings because I’m not close to retirement.” So how do you overcome these mental barriers or otherwise incentivize employees to participate in your new 401k plan? Two ways - education and plan design. Employees are more likely to participate today when they understand the cost of delay and when certain plan features are offered.

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Plan Setup

Setting Up A 401(k) Plan: The Cliff Notes

By: Holly Roussel-Godfrey
April 26th, 2016

Making hasty choices when setting up a 401k can cost your business, or your employees, tens of thousands of dollars in unnecessary plan expenses. For this reason, it’s important you hire a 401k service provider that’s not only reputable, but also consultative. If a provider tells you they can setup your plan in minutes – run. Setting up a 401k plan that matches your company goals simply can’t be done using pre-filled, signature-ready forms.

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Retirement Plan Types | Retirement Planning

3 Tax Advantages of 401k Plans

By: Holly Roussel-Godfrey
April 12th, 2016

401k plans offer important tax advantages for small businesses and their employees. If you are a business owner, you should understand these benefits when deciding whether or not to offer a 401k plan to your employees. Too many businesses focus on “what is this going to cost me,” rather than, “what are the benefits?” While we strongly recommend always speaking with your accountant on the topic of taxes, here is a high-level summary of the tax benefits possible by offering a 401k plan.

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