Need to switch Safe Harbor 401K for my business
I have a small business and set up a Safe Harbor 401K plan last year through Edward Jones (I know, I know). I was just informed that they will no longer act as custodian of my plan as of September of this year. They claim that new Dept of Labor regulations make it too difficult and expensive to administer small plans. I researched the new regs. They will make plan custodians, like Edward Jones, now have fiduciary responsibilities. Apparently they don't like those responsibilities. Is anyone else encountering this issue? Does anyone have experience with maintaining a small business 401K plan through Vanguard, Fidelity or others?