It is clear that ERISA regulations want the owners of small businesses and their 401(k) plan trustees to hire professional experts to help them in setting up and administering a 401(k) and educating their employee participants.
We have been trying to get this message out for Santa Rosa business owners who have a 401(k) plan for a while now.
But how do you know if the adviser you’ve considering (or already working with) is any good at what you’ve hired that adviser to do?
Below is a link to a nice article from a well known ERISA/retirement plan attorney that gives you a few questions you can pose your plan’s financial adviser.
If you are setting up a plan or are wondering if your current plan has the right adviser, this might be helpful for you.