We are the premier online 401k Company. We are a Third Party Administrator of all qualified plan types but the highest demand is for 401ks. There is more to retirement then deferred income plans like 401k and it isn’t the most useful provision for every client.
Your goals for the plan will help determine which plan is best for your company. Our highly-trained specialists will help you install the design suited perfectly for your company. You have enough to worry about, so let BRI help you get your retirement plan in shape. We offer competitive pricing for small business 401(k) plans who are at particular risk from bundled providers since the plan is too small for the investments to cover the costs. Unlike most of our competitors, our fees are based on how many full-time employees you have — we don't charge you more when the market performs well or you've maintained the plan long enough to have saved a significant amount of money.
401k Third Party Administrator Fees vary greatly - some bundled providers say they do it for free when they’re actually increasing their investment fees to cover the cost. Like most products, you get what you pay for — our business is compliance and proper administration shouldn’t take a backseat to the daily fund trading. For our assistance to the fiduciaries and ability to maximize the utility of the business retirement plan, we offer the best value out there.
Your retirement account is important, too, even if you’re certain of the eventual healthy sale of the business you’ve created. It provides you not only with some diversification from your business interests, but an account federally-protected from bankruptcy. By sponsoring a retirement plan, you are provided a tax-exempt mechanism to move money from the business into your personal account. Business retirement plans are a win-win — good for employees and employer alike. When choosing a TPA, you'll want company focused on service. You want a company that answers the phone and can provide quick, accurate answers — not a bundled provider that will keep you in the queue of a phone-tree in pursuit of, often times, simple answers.
Learn more from our retirement plan specialists.Read the Guide to Choosing the Right Plan
It’s true that many financial service providers work primarily with bundled products for their small business 401k plan clients. Most FAs without many 401k plans think going bundled is easier for you since you’ll only have one number to call for questions they can’t answer and it may even look cheaper since all plan fees are paid by the plan participants. Sometimes, though, it’s because they want to be able to point to someone else (preferably a large, faceless entity) when the plan goes sideways. Wouldn’t you prefer your service provider was credentialed in the work they get paid to do for you? Financial advisors that have seen success with 401k plans know that good retirement TPAs bring so much to the table that the increased ability to contribute alone offsets the annual fees for their work.
Like payroll companies with their work, large recordkeepers bundle plan compliance in with their daily trading services A brief internal analysis, however, tells them that most clients with less than $10M in the retirement plan pay less in overall fees by retaining the services of an independent TPA like Benefit Resources. Since we know what we’re doing, it takes us less time to do the work. Even better, this way the money we’ve all worked to hard to get into the qualified plan instead of using those hard-earned assets to pay for plan services.
“Benefit Resources, Inc. is my go-to strategic partner for retirement plan administration. They make ongoing plan administration easy for both the advisor and plan sponsor with their excellent service. Also, the BRI team does a great job of explaining pension plan options in a way that is easy to understand for anyone that is new to the pension plan world.”