I was the administrator of my plan already...including filing 5500-EZ via EFAST2. Being the trustee won't change much, nor does it negate Fidelity's lack of small biz features.
You are the administrator/trustee of your own plan now. There will be work involved for sure.
Obviously, a new system is going to take some getting used to...but...one would be hard pressed to argue that Fidelity's small business set-up is not inferior to Vanguard's (R.I.P.). Having a more modern looking website/interface is pointless if the underlying mechanics aren't present.
-Small business log-in with administrative functions all in one place (for multiple plans)
-Linked to business banking account(s), and electronic transfer of funds for deferrals/contributions.
-Delineation of employEE and employER deferrals and contributions.
Of course, it's all a moot point, seeing as Vanguard isn't interested in our business, any longer.
I'll be just fine...doesn't mean Fidelity shouldn't fix their issues.
Extra hoops to jump thru, and an extra spreadsheet...oh well.
-Mark
Statistics: Posted by buldogge — Tue Jun 18, 2024 12:54 am