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We are concerned about the amount of money that would be deducted from our employee’s accounts with the mortality and expense charge however if we chose we can do a profit sharing each year to cover that cost.
I have administered the more common 3 tier (broker, plan adminstrator, fund provider) plan set-up in the past. Has anyone had any experience with this other type of 401k plan – good, bad, indifferent??? Does anyone see any major pitfalls that I am not seeing?