Employers Can Create Do-It-Yourself 401(k) Plans
Los Angeles Times (09/06/00) Vol. 16, No. 33 p.C6; Hovey, Juan

The Internet can reduce employers' costs in creating and administering a 401(k) plan, but the complexity of pension laws means that a professional pension consultant may still be necessary. Companies like Fidelity Investments, ExpertPlan.com, GoldK.com, and Ez401k.com offer lower prices for setup and maintenance, and GoldK.com is free. These companies are looking for employers who want simple plans and are willing to handle the work themselves. However, United Plan Administrators President Sam Gilbert warns that the Internal Revenue Service is stringent in its requirements concerning 401(k) plans, and he points out that a pension consultant's job is to keep a plan qualified.


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