The campaign encourages advisers to ask PAi to complete a 401(k) plan fee comparison for a small business that doesn’t already have a retirement plan with PAi. There is no cost or obligation for the comparison.
Each plan sponsor who receives a comparison will be eligible to win a seven-day Caribbean cruise for two. There are also rewards for the financial adviser who submits the most plans for comparison.
“Financial advisers have made 401(k) the only tax code Americans know,” said Michael Kiley, president and founder of PAi. “Fee comparisons provide an opportunity for an adviser to bring value to a customer locally while using an efficient open-architecture solution to reduce overall costs and improve the customer retirement outcome.”
Financial advisers are aware of the costs associated with 401(k) plans, Kiley said, but they may not realize that in the era of fee disclosure and open architecture, there are options in the 401(k) marketplace that have dramatically improved the value associated with a retirement plan.
“In today’s environment, a well-funded 401(k) is a critical element in the retirement security of American workers,” Kiley said. “It’s not complicated—in fact, most small-business owners can offer a retirement plan for about the cost of what they pay for a month of cable television. Plans can be installed online in minutes, enrolled in a week and in many cases can be integrated with payroll to cut down on monthly maintenance.”
The Cruise to Retirement promotion runs through March 31. Complete contest rules and details are here.
PAi, with headquarters in De Pere, Wisconsin, provides 401(k) administration and payroll processing for small businesses.