Cost
Our main theme with cost - Affordable, Simple & Transparent. Encore 401k, LLC Services fees are customized for each Retirement Plan client based on their unique situation & needs.
Below are the main criteria for determining fees:
- Complexity of the retirement plan
- Plan assets
- Services needed
- Number of participants or eligible employees
- Geographic location
Fees are stated as either:
- percentage of assets
- flat dollar amount
- combination of both
Fee can be collected 3 different ways:
- Billed direct to the plan sponsor
- Deducted from Plan assets
- Combination of both
To support an important & underserved market, we created a business model to offer a simple & affordable solution for small & start-up plans.
Encore 401k, LLC Plan Sponsor Service Agreement spells out the exact fees for each client and is created based on needs & what we learn at our Discovery meeting.
There's a way to do it better--find it!
— Thomas Edison
DID YOU KNOW?
Employers might have it wrong!
"74% of sponsors sight the #1 reason they do not intend to offer a retirement plan is they are too small & believe the cost will be too high." This is unfortunate because there are very affordable 401k options for small plans. (Source: Transamerica Institute, "Navigating the Pandemic: A Survey of U.S. Employers," June 2021.)
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