Moving An Existing 401(k) Plan to a New Provider

To transfer an existing 401(k) plan to a new provider, there are 5 simple steps:

  1. Select the investment advisor, TPA and recordkeeper.
  2. Identify the objectives for the 401(k) plan design, 401(k) investment philosophy and 401(k) contribution budget.
  3. Notify prior providers and enrolled employees of the change.
  4. Educate and enroll the participants.
  5. Transfer assets to new 401(k) retirement plan.

Once an investment advisor is selected, the following steps will be done in conjunction with the advisor. Then your new plan will be up and running! Every year the investment advisor will review your plan and help update the plan as needed.