Other service firms that offer 401(K) rollover plans are interested in receiving on-going income from clients. So they build in plan maintenance fees that are not necessary. Why pay someone else $7,500-$10,000 in fees over the next 5 years to administer your plan when they will require you to do 60% of the work?
For years, when we offered our clients these services through a third-party administrator, hundreds of our clients would pay the cost but ask us later, “How long do we have to keep paying these monthly fees?” Today, Business Funding Trust has developed a no-cost plan administration kit so one of your employees or your accountant can spend just a few hours a year to satisfy the reporting required to keep your plan active. And if for some reason you need additional help, we have a professional plan administrator available to guide you through the process for an affordable fee.
While other firms offer similar plans, their services are limited, include stiff annual maintenance fees, and require advance payments. Some do not cover all the bases.
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