Finding the Best 401(k) Provider

Hiring the right plan advisor can have a huge impact on retirement savings for your participants.

TYPES OF 401(k) PROVIDERS



A plan sponsor hires three different types of providers to manage their 401(k) plan. Each provider plays a unique role within your small business's retirement plan.

Plan Advisor

A plan advisor helps the plan sponsor and participants with plan and investment management. Hire the plan advisor first to help coordinate selection of the TPA and recordkeeper.

Recordkeeper

A recordkeeper keeps track of the contribution types in the retirement plan. The recordkeeper also maintains the plan website, and distributes plan statements.

Third Party Administrator

A TPA takes care of certain administrative aspects of the plan. For example, the TPA maintains the plan document, performs annual compliance testing, and prepares the Form 5500.


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ForHow to Shop for a Plan AdvisorView Transcript

How to Shop for a Plan Advisor

Watch this short video from a Fisher Retirement Plan Specialist to learn how to shop for the right advisor for your business's retirement plan.

Free 401(k) Provider Evaluation Checklist

8 Questions to Ask When Evaluating a Plan Advisor

Find out the 8 most critical questions to ask when evaluating a new plan advisor for your small business.


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Plan Advisor Evaluation Template

Save time by downloading our complimentary provider evaluation template.
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Plan Advisor Comparison Chart

Compare the differences between a one star, two star, three star and four star plan advisor.
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One of our 401(k) business specialists would love to talk to you about your company’s retirement plan needs.

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