Answer: Since your 401k plan is one of your most important retirement savings vehicles, you want it to be as good as possible. Here are the features that we think make a really good 401k plan. How does your plan compare?
Immediate eligibility
Valued daily
Generous Employer match
Maximum contribution can be made each year, i.e., the plan places no restrictions on the amount
Low expenses or the plan sponsor pays most fees
Both internet and voice access for checking performance, balance, making changes, etc.
Name brand no-load mutual funds as investment options are offered
At least 12 investment options available, including both passive (index) and active investment (actively managed) funds
Loans and hardship withdrawals available
Newsletters, fund prospectus, investment performance information and some type of education seminar and/or advice product offered
