I have a new prospect. Small business owner that wants to start a 401k for himself and his employees. Who would be the top 2-3 organizations I contact, and what questions should I ask the providers?

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Before you go too far, did you discuss a SIMPLE as an option?

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He likely does not want a Simple (Mandatory contribution) but could go the SEP route.As for 401k, either look at doing one at your b/d (most can do small plans no problem) or look to use a fund company like American or Principal.

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I did not look at a SIMPLE, but he would be open to hearing alternatives.

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A simple does not have mandatory contributions

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I like Principle for small plans.

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A SIMPLE at American Funds or any vendor runs about $10/employee. What kind of business is this? Does the owner want to defer a lot of money?

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I like Pai for start up 401ks. Reasonable priced, great website, easy admin

Check with CUNA.

Depending on what he makes a 401k could.be better as you can add Roth component. A simple dose have mandatory contributions. A sep is all paid by empolyer. A 401k at last makes everyone come to the table if you do safe harbor.

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