Anyone have any recs? Looking to evaluate moving from a Simple IRA plan to a safe harbor 401(k) and potential cash balance plan. Not looking for anyone pushing insurance products or asset based % fees. I'm in Houston but they don't necessarily have to be.

Try Ryan Krueger at Freedom Day Solutions in Spring Valley.

Great guy, smart. Even for a t-sip.

Thanks for the rec. Do you happen to know if they actually design 401k plans with cross testing, safe harbor setup, actuarial work, etc? I don't see that with a quick look through their website.

If your bank has a decent sized investment firm working with it (BoA has Merrill, Chase has JPM, etc) they typically have an attorney-led business retirement plan department. They'll give you recs for free, if you think they're too expensive, which isn't always the case, you'll still have an idea of what to do. I think both of those I mentioned have a $500K minimum entry to get the smarter guys looking.

You could probably set one up yourself through VestWell.
I use them for clients and have been pretty pleased.

I'm not sure if they do the cash balance part…that definitely adds complexity to the conversation.

But just switching from Simple to Safe Harbor 401k isn't a big lift overall. And they do all of the documents and annual reporting as part of their services I believe.

Do you have a payroll company? I've been happy with the products offered and the referrals by gusto and rippling in terms of a basic safe harbor 401k.

Years ago I had a hard time trying to find what you are looking for and I was told it's a pain and there isn't money in it for the setup.

Yes I have paychex but they're awful. I've been thinking of switching for years and have considered gusto. Thanks for the rec.

MAS444 said:

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Thanks for the rec. Do you happen to know if they actually design 401k plans with cross testing, safe harbor setup, actuarial work, etc? I don't see that with a quick look through their website.

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Yes, he says they do. If he can't help, he's happy to provide a resource.

Probably switching my payroll to gusto and using them. Their AUM fee is .25% ...but they allow in service transfers (supposedly with no age requirement, but I need to double check on that) and use Vanguard for investment options. They seem to have a pretty streamlined, cost effective service and process - with a reasonable monthly service fee that covers everything. Everyone else either wants 20kish+/- per year or 1%+ AUM (with none or very limited in service transfer). Doesn't sound like there's much money in it other than the AUM - other than payroll providers who add it on to their other services.