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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.
Replacing a SIMPLE IRA with a 401(k) – Frequently Asked Questions

Replacing a SIMPLE IRA with a 401(k) – Frequently Asked Questions

By: Brian Furgala

July 5th 2023

Replacing a small business SIMPLE IRA with a 401(k) is not a complicated process, but it does require planning. Our FAQ can help the process go smoothly.
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Pooled Employer 401(k) Plans (PEPs): Myth vs. Reality

Pooled Employer 401(k) Plans (PEPs): Myth vs. Reality

By: Eric Droblyen

February 16th 2022

Pooled Employer Plans (PEPs) can seem attractive at first blush. Ironically, their purported benefits can, in fact, harm 401(k) plan participants and fiduciaries.
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Pooled vs. Single-Employer 401(k) Plans - Are PEPs for You?

Pooled vs. Single-Employer 401(k) Plans - Are PEPs for You?

By: Eric Droblyen

December 9th 2020

Supporters claim Pooled Employer Plans (PEPs) offer lower 401k fees and greater liability protection than single-employer plans. They rarely deliver either.
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401(k) vs SIMPLE IRA: Which is Right for Your Business?

401(k) vs SIMPLE IRA: Which is Right for Your Business?

By: Eric Droblyen

May 27th 2020

401(k) or SIMPLE IRA? The kind of plan you pick could have an enormous impact on the finances of everyone involved in your business. Choose wisely.
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How MEPs Signal a Broken 401(k) Industry

How MEPs Signal a Broken 401(k) Industry

By: Eric Droblyen

October 30th 2019

Multiple Employer Plans (MEPs) are better for the 401(k) industry than retirement plan savers and sponsors. Small business owners should avoid them.
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TSP-like 401(k)s + Tax Credits = More Small Business Plans

TSP-like 401(k)s + Tax Credits = More Small Business Plans

By: Eric Droblyen

October 3rd 2018

Multiple Employers Plans (MEPs) are promoted as a way to expand small business retirement coverage. TSP-like 401ks and tax credits would do a better job
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Solo 401(k) Plans – Their Benefits to Self-Employed Workers

Solo 401(k) Plans – Their Benefits to Self-Employed Workers

By: Eric Droblyen

May 16th 2018

Solo - or individual - 401k plans cover business owners and their spouses only. They allow plan participants to make maximum deductible contributions – including “mega back door” Roth IRA contributions – up to the 415 limit.
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Why Multiple Employer 401(k) Plans are Obsolete Today

Why Multiple Employer 401(k) Plans are Obsolete Today

By: Eric Droblyen

December 13th 2017

Supporters of Multiple Employer Plans (MEPs) claim these 401ks lower plan fees and fiduciary liability for small businesses. Neither claim is true.
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403(b) vs. 401(k) Plans for Non-Financial People

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

By: Holly Roussel-Godfrey

July 26th 2017

These two big differences are truly all you need to know when deciding between a 403(b) or 401(k) plan – their eligibility and testing requirements.
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How MEPs Complicate 401(k) Plan Terminations

How MEPs Complicate 401(k) Plan Terminations

By: Eric Droblyen

November 2nd 2016

Exiting a 401k plan can be an easy process, as long as you aren't part of an MEP. MEPs complicate the plan termination process and can cost you big time.
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