About Employee Fiduciary
Employee Fiduciary is a company that specializes in retirement planning, specifically in the financial services sector. The company offers 401(k) plans for small and medium-sized businesses, providing services such as participant and plan sponsor websites, daily recordkeeping of participant accounts, processing of participant loans and distributions, and custody of plan assets. They primarily cater to the small business sector. It is based in Mobile, Alabama.
Latest Employee Fiduciary News
Nov 14, 2023
News provided by Share this article Share toX MOBILE, Ala., Nov. 14, 2023 /PRNewswire/ -- Employee Fiduciary, LLC, a leading provider of 401(k) recordkeeping and Third-Party Administration (TPA) services, has launched a new calculator to demonstrate the future value of 401(k) fees. This tool is designed to show retirement savers how much they can increase their savings in retirement by lowering their 401(k) fees today. "Few savers appreciate the cumulative effect of 401(k) fees in our experience. When a 401(k) account pays fees, the saver won't just miss their principal in retirement. They'll also miss the compound interest the payments would have earned had their amount remained invested instead. Our calculator demonstrates the significance of these losses. We think this information will motivate savers to lower their amount today," says Employee Fiduciary's President and CEO, Eric Droblyen, CPC, QPA. The calculator, available now at www.employeefiduciary.com/401k-fee-future-value-calculator , offers users a view of how fees can impact their retirement. Features of the calculator include: A user-friendly interface where individuals can adjust and customize their current age, retirement age, current account balance, annual contributions, and rate of return. A dynamic bar chart that displays projected balances at four different annual fee rates: 0.00%, 0.25%, 0.50%, and 1.00%. A breakdown showing the potential retirement balance for each fee scenario, with color coordination to match the bar chart for ease of understanding. "To make retirement as affordable as possible, workers must keep their 401(k) fees to a minimum throughout their working years," says Droblyen. He sees this calculator as a tool to help savers understand how much cost matters when saving for retirement. Earlier this year, Employee Fiduciary formally submitted a comment letter to the U.S. Department of Labor (DOL) in response to the department's Request for Information concerning the SECURE 2.0 Reporting and Disclosure requirements. In the letter, Droblyen addresses several key areas of concern, with a primary focus on the need for enhanced clarity and transparency in how 401(k) fees are presented to participants. This new calculator fits directly into Employee Fiduciary's goal of empowering 401(k) participants to understand the cumulative effect of fees and to advocate for lower fees. About Employee Fiduciary Employee Fiduciary, LLC, founded in 2004 and headquartered in Mobile, AL, is a leading provider of low-cost 401(k) plans for small to medium-sized businesses. The company's founding principles are transparent fees, personal care, and expert plan design. The company serves over 5,000 small businesses and approximately 145,000 participants nationwide. For more information about Employee Fiduciary, visit www.employeefiduciary.com , and follow us on Facebook , X , and LinkedIn . For Additional Information
Employee Fiduciary Frequently Asked Questions (FAQ)
Where is Employee Fiduciary's headquarters?
Employee Fiduciary's headquarters is located at 250 State Street, Mobile.
Who are Employee Fiduciary's competitors?
Competitors of Employee Fiduciary include Guideline and 4 more.
Compare Employee Fiduciary to Competitors
Icon Savings Plan provides financial services. It offers portable retirement benefits for employers. It was founded in 2018 and is based in Portland, Oregon.
Betterment operates a financial advisory company. The platform offers digital investment solutions such as cryptocurrency investing, automated investing, financial planning, retirement planning, cash management services, and more. The company was founded in 2008 and is based in New York, New York.
ForUsAll offers a platform enabling employers to provide a modern 401(k) plan to employees with access to cryptocurrency, financial wellness benefits, and low fees. The platform provides features such as direct investment into a range of cryptocurrency tokens, automated plan administration, auto-reconciling payroll integration, tracking and enrolling of eligible employees, and actionable financial insights. The company was founded in 2012 and is based in San Francisco, California.
Human Interest focuses on providing retirement savings solutions. The company offers affordable, full-service 401(k) and 403(b) plans, making it easier for small and medium-sized businesses to help their employees save for retirement. Its services primarily cater to the small and medium business sectors. It was formerly known as Captain401. It was founded in 2015 and is based in San Francisco, California.
Vestwell offers a platform helping investment advisors evolve their businesses to suit the changing landscape of retirement investing. It enables registered investment advisors to align with the latest rules and regulations and scale their business to provide 401(k) planning to companies and their employees. Vestwell was formerly known as Hello401 Holdings. The company was founded in 2016 and is based in New York, New York.
Saveday is a company that focuses on providing retirement solutions, specifically in the financial services industry. The company offers zero employer-cost 401(k) plans, aiming to make retirement plans more accessible and affordable for businesses of all sizes. These services include fiduciary guidance, recordkeeping, government filings, compliance, managed investments, and custodial services. It was founded in 2015 and is based in Newark, California.