An expensive 401(k) requiring too much administration
This Credit Union strives to offer a competitive 401(k) to its employees at low cost. At the same time, the company didn’t want to be inundated by administrative work. With a desire to meet these two needs, the company was searching for options that might be available from other providers.
GCG was able to present a 401(k) plan that met the client’s needs with minimal administrative duties. The new option eliminated the third-party administrator fee and reduced the all-in participant costs.