Is your 401k plan bloated with hidden fees and charges?
As a business owner you are probably one of the biggest participants in your company plan, but it is unlikely that you even know what the total fees and expenses of your plan is. Finding all the fees charged to plan participants is like pealing an onion - both have many layers and both will likely make you cry.
That is where we can help. Oak Street advisors can help you build a 401k plan with low fees and total transparency. By partnering with a recognized leader in low cost 401k plan administration and utilizing an open platform for investment options we can help you design a plan that allows you and your employees to build a retirement nest egg that is not handicapped by bloated fee structures.
How We Can Help
For a low fee of 0.25% of plan assets annually with a minimum annual fee of $1,000 (plus travel costs) Oak Street Advisors will:
Assist Client in selecting an appropriate retirement plan and provide education as to plan options and alternatives.
Assist Client in analyzing and comparing the expenses of current and alternative plan options.
Act as a co fiduciary in selection of plan investment options.
Provide professionally designed risk based portfolio options for participants.
Monitor and recommend modifications to investment options as appropriate.
Provide annual sign up and plan education meetings via online conference or personal visit.
Provide ongoing education for plan participants through quarterly electronic newsletters.
Provide a risk tolerance questionnaire and analysis of the questionnaire results for each participant who requests the service.
Act as a liaison between client and plan administrator as needed.
Oak Street Advisors partners with third party plan administrators to offer clients low cost, open architecture 401k and profit sharing plans. Our plan administration partners offer:
Plan Sponsor Services
Full service, in-house administrative support to guide plan sponsor and trustees step-by-step through the plan adoption process
Free plan consultation and optimal plan design
Plan documents, including Summary Plan Document and Investment Policy Statement, approved by the Department of Labor and the IRS, and suggested procedures to establish an effective implementation and monitoring process that satisfy the requirements of ERISA.
Free copies of the EF Fiduciary Guidebook, which guides employers step-by-step through the requirements of sound plan sponsorship.
Statement of deductibility for IRS tax-refunds
Preparation of annual IRS filings, including Form 5500 (and Form 5307 and 1099s, if necessary)
Free annual ADP/ACP compliance tests, 415 tests and other general non-discrimination tests
Free reports on plan participation, contribution levels, and performance.
Dedicated 401(k) specialists available toll-free during normal business hours.
Personal service representative available toll-free to answer questions during normal business hours
24/7 participant access to account information showing balances, recent transactions, loan activity and change in value.
Free performance reports from Morningstar
Daily valuation and trading
Optional self-directed accounts
On-site, web-cast and phone enrollment education seminars
Optional automatic re balancing.
Optional automatic enrollment.
Spanish language participant website. Spanish help desk and other foreign language support on request.
To learn more about how Oak Street Advisors can help you and your employees or to request a free analysis of your current 401k plan, please call us at 843.946.9868 or toll free at 877.946-9868. Or you can just send an email to email@example.com
Oak Street Advisors 1335 44th Ave N Suite 201 Myrtle Beach, SC 29577 843.946.9868
Finding all the fees charged to plan participants is like pealing an onion - both have many layers and both will likely make you cry