Plan Design

• What actuarial methodology is used by retirement plan providers when determining contribution levels?
• What is the vesting schedule? Can you change it?
• Is it possible to integrate the plan with Social Security benefits?
• How often can employees/the employer move accrued benefits between funds?
• How frequently can the plan be amended?
• How often will plan participants receive information on their available benefits?
• How are the accrued benefits distributed to retired participants (lump sum, annual or monthly allowance, etc.)?
• What are the requirements for plan participation? Can they be adjusted?

Operational Considerations

• What information will we receive about investment options?
• s it possible to invest our assets in funds that are not managed by your company?
• Is there a minimum length of time we must stay with your company for plan administration?
• What guarantees do you have to back our contributions/plan assets?
• Who will be responsible for maintaining the plan documents so they are up-to-date with respect to new or changing IRS rules?
• Who will we be working with in the future?

Plan Costs

• What are the fees for setup? (Usually, there is a base fee and a per participant fee.)
• What is included in this base setup fee (prototype documents, summary plan description, etc.)?
• Is the IRS user fee included in the basic fee?
• What are the annual charges for plan administration (base and per participant)? Note: If possible, try to get this over a period of 5-8 years.
• What is included in the annual fee (summary annual report, IRS filings, discrimination testing, etc.)?
• What are the charges for moving assets from one fund to another?
• Are there additional charges for employees withdrawing from the plan or new accounts being rolled into the plan?
• What would it cost to amend the plan?
• What would it cost to terminate the plan?

Training for Participants

• Do you offer training on 401k operation for my employees?
• Do you offer instructional manuals, videotapes, seminars?
• Do you offer individual counseling?
• How much would this training cost?