Platform Providers

[SMB]

I am looking for a 401(k) plan platform provider willing to service micro plans - i.e., 50 or fewer participants - and willing to work with a Plan's TPA.

I am familiar with ASPire, Employee Fiduciary and First Mercantile.

Can anyone recommend any other micro plan platform provider that I should check out?

Thanks!

[ESOP Guy]

If I understand the question correctly all the major insurance companies do that.

I know our firm has Dr. offices with 4 to 10 employees with John Hancock as the recordkeeper. We have at least one client with around 50 employess at Securian. Not sure about the plans at Principal or American Funds but they both recordkeep and I don't believe they are large clients.

This side is not my strong point, but I also know no one from my firm besides me reads this forum.

[Guest ERISA01142002]

If I understand the question correctly all the major insurance companies do that.

I know our firm has Dr. offices with 4 to 10 employees with John Hancock as the recordkeeper. We have at least one client with around 50 employess at Securian. Not sure about the plans at Principal or American Funds but they both recordkeep and I don't believe they are large clients.

This side is not my strong point, but I also know no one from my firm besides me reads this forum.

The Hartford has two platforms that would be available depending on the size of the contribution. One doesn't have a minimum contribution amount for each year and the other has a $75k min.

American Funds, Mass Mutual and John Hancock are just a few more.

[austin3515]

American Fundds (Recordkeeper Direct)

ExpertPlan

Ascensus

The list goes on...

[Guest WCHB]

I am looking for a 401(k) plan platform provider willing to service micro plans - i.e., 50 or fewer participants - and willing to work with a Plan's TPA.

I am familiar with ASPire, Employee Fiduciary and First Mercantile.

Can anyone recommend any other micro plan platform provider that I should check out?

Thanks!

I have found Nationwide and Ascensus to both be good at working with small plans.

[Bird]

If your client cares about participant costs, American Funds Recordkeeper Direct (only American Funds funds offered*) is almost always the least expensive option. And I like working with them.

We have a handful on American Funds PlanPremier TPA (offers funds from other families, you have to be approved to use this), John Hancock, Hartford, etc.

*As an aside, I don't have a problem at all only offering funds from one family. In hindsight, you can always find different funds from different families that performed better than funds from a single family, but looking to the future, I don't believe that you improve your odds of investment success by offering different funds from different families.