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.

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Provider Shopping | Plan Setup

How Much Time Does Annual 401(k) Administration Take?

By: Eric Droblyen
July 8th, 2020

According to AARP, Americans are 15 times more likely to save for retirement when they can do so by payroll deduction through a workplace retirement plan. However, while most large businesses – companies with more than 100 employees – sponsor a retirement plan, 51 to 71 percent of small businesses don’t. In a Pew Charitable Trusts survey, small business owners cited “resources required to start and maintain a plan” as one of the top reasons they don’t sponsor a 401(k) plan. To help more Americans save for retirement, overcoming this concern is essential.

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401(k) Fees | Provider Shopping | Fiduciary Responsibility

MassMutual 401(k) Fees - How to Calculate Them

By: Eric Droblyen
June 30th, 2020

If you have questions about MassMutual 401(k) fees – how they work, how much they cost on average, or how you can find & calculate them for your plan – you’ve come to the right place. In this guide, we’ll show you how to calculate the full cost of MassMutual 401(k) plan using their DOL-mandated fee disclosure.

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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.

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401(k) Fees | Provider Shopping | Fiduciary Responsibility

How to Find & Calculate VOYA 401(k) Fees

By: Eric Droblyen
June 30th, 2020

VOYA 401(k) fees – if you’re having trouble understanding how much these really cost, you’re not alone. In Plan Sponsor magazine’s 2019 Defined Contribution Survey of 11 401(k) providers that serve the “micro” retirement plan (defined as plans with less than $5M in assets) market, VOYA scored among the lowest in terms of fee transparency. If you're confused about VOYA 401(k) fees – how they work, how much they cost on average, or how you can find & calculate them for your plan – you’ve come to the right place.

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401(k) Fees | Provider Shopping | Fiduciary Responsibility

How to Find & Calculate Principal 401(k) Fees

By: Eric Droblyen
June 30th, 2020

Principal 401(k) fees – if you’re having trouble understanding how much these really cost, you’re not alone. Like many other insurance companies, Principal is able to weave a complex web of 401(k) fees into their plans that other providers can’t charge. These fees are not required to be disclosed as a hard dollar amount in their fee disclosure documents, making them really easy to overlook. If you have questions about Principal 401(k) fees – how they work, how much they cost on average, or how you can find & calculate them for your plan – you’ve come to the right place.

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401(k) Fees | Provider Shopping | Fiduciary Responsibility

How to Find & Calculate American Funds 401(k) Fees

By: Eric Droblyen
June 30th, 2020

American Funds 401(k) fees – if you’ve already tried looking for these, you probably know that they’re really hard to find. Like so many other providers in the 401(k) industry, American Funds does a masterful job keeping their 401(k) fees under wrap. The reason? Because American Funds makes an absolute killing by charging small businesses hidden 401(k) fees that grow larger and larger as their employees invest more money into the plan. If you have questions about American Funds 401(k) fees – how they work, how much they cost on average, or how you can find & calculate them for your plan – you’ve come to the right place.

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401(k) Fees | Provider Shopping | Fiduciary Responsibility

How to Find & Calculate Ascensus 401(k) Fees

By: Eric Droblyen
June 30th, 2020

Ascensus 401(k) fees – though these are far from the most confusing or opaque provider fees in the 401(k) industry, they’re still fairly easy to misread and can quickly get out of hand if you’re not careful.

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