5 Signs Your Company's 401(k) Plan Needs an Upgrade

Your 401(k) plan may have been a great fit when it was first established, but retirement plans should evolve alongside your business.

Here are five signs it may be time for a review:

1. Employee Participation Is Low

If employees aren't taking advantage of the plan, it may indicate confusion, lack of education, or a plan design issue.

2. You Haven't Reviewed Fees in Years

Markets change, providers change, and fees change. A plan that was competitive five years ago may no longer be today.

3. Employees Are Asking More Questions Than Ever

Questions about investments, retirement readiness, and enrollment often signal a need for additional participant education.

4. Compliance Testing Is Becoming Difficult

Repeated testing failures can create administrative headaches and may indicate a need for design improvements.

5. Your Business Has Grown

A plan designed for a company with 10 employees may not be ideal for a company with 50 or 100 employees.

An annual retirement plan review can help identify opportunities to improve employee outcomes while reducing administrative burdens for business owners and HR teams. Schedule an Appointment!