Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Need to switch Safe Harbor 401K for my business
Old 02-23-2016, 05:56 PM   #1
Dryer sheet wannabe
23window's Avatar
Join Date: Dec 2015
Posts: 23
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?
23window is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-23-2016, 06:35 PM   #2
Moderator Emeritus
Ronstar's Avatar
Join Date: Aug 2007
Location: Northern Illinois
Posts: 13,231
Interesting. I'm retired but still have my 401k through my employer. Custodian is Edward Jones also. We switched to a safe harbor plan about 4 years ago. I'll check for info and report back.

Sent from my iPhone (:.using Early Retirement .//82339)
Ronstar is offline   Reply With Quote
Old 02-23-2016, 08:51 PM   #3
Full time employment: Posting here.
Join Date: Nov 2010
Posts: 628
I know of Vanguard, fiduciary duty is already in their structure. They are owned by the people who invest with them.

I cannot vouch others but I don't expect you to be unable to find others.
devans0 is offline   Reply With Quote
Old 02-23-2016, 10:10 PM   #4
Recycles dryer sheets
Join Date: Nov 2013
Posts: 234
I had a safe harbor plan for my business through my payroll company, Paychex. I know that they charged pretty high admin fees because they had to do particular testing, etc. to make sure that you were in compliance. I used them to manage my payroll because I had large weekly payrolls.

Sent from my KFTHWA using Tapatalk HD
Debinnov a is offline   Reply With Quote

edward jones, safe harbor

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Bar Harbor Maine jambo101 Travel Information 24 08-06-2010 06:13 AM
Pearl Harbor Day............ FinanceDude Other topics 9 12-07-2009 07:58 PM
Can I safe harbor estimated state tax payments? bank5 FIRE and Money 0 03-31-2009 09:13 PM
Tool Time! Do you do Harbor Freight? BUM Other topics 32 07-21-2007 06:26 PM
Pearl Harbor Day SteveR Other topics 8 12-08-2005 01:02 PM

» Quick Links

All times are GMT -6. The time now is 10:15 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.