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Products July 23, 2013
Plan Provider Waives Plan Startup Costs
Starting July 24, a provider of retirement plans for small and medium-sized businesses will offer a “No Fee Week” for new plans.
Reported by Kevin McGuinness
The No Fee Week from ShareBuilder 401k lets employers provide a 401(k) plan for their employees without the typical upfront costs to get started. The investment options of these plans are exchange-traded funds (ETFs).
By signing up between July 24 and 31, employers can save $495 to $995 in setup costs. Business owners without full-time employees can save $150 on a Solo 401(k).
“Our recent nationwide survey of small business owners revealed that the costs of setting up a retirement plan is a primary roadblock for offering one, with 29% saying lower costs would increase their willingness to offer a 401(k) plan,” said Stuart Robertson, president of ShareBuilder. “Our goal is to make retirement planning easy, accessible and affordable for everyone-regardless of business or plan size.”
Business decision-makers must purchase an individual, simplified, customized or tiered profit sharing 401(k) plan by July 31 to be eligible for the fee waiver. The promotion code BESTSALE can be used during the online purchase process. Only one offer applies per customer.
ShareBuilder choses its selection of funds with a focus on low-expense, index based investments from ETF providers such as Vanguard, iShares, SPDR and PowerShares, including five model portfolios. ShareBuilder also serves as the investment manager role (ERISA 3(38) fiduciary) for employers, which helps maximize employer protections and saves employers the time of regularly reviewing investment options that are made available to employees.
ShareBuilder 401k is a subsidiary of Capital One Financial Corporation. For more information about No Fee Week, visit www.sharebuilder401k.com.