Guideline 401K Review: Is it the best option?

By Altay Gursel | February 22, 2021
Home / Rollover / 401k / Guideline 401K Review: Is it the best option?

Guideline 401K: All You Should Know About

Guideline 401k

Company Background

Guideline Group was founded in 2016. However, since inception, they have been distinguished continuously with the quality of service that they provide to firms, both big and small, and to individuals that choose them.

Now, what is coming next is big! The excellence of the Guideline Group has attracted the watchful eyes of Forbes. In three years, the Guideline Group made it to the Forbes list as one of the Fintech Companies to be watched (in 2019). That’s remarkable.

Well, let’s not be carried away. Let’s weight the pros and cons of the Guideline Group 401 (k) plan. Let’s take a holistic look at what they provide. It may be a wise choice, after all, for a fulfilling retirement.

Hey, there! Get your mind ready; it’s about to be blown off. By the time you are done reading through this, a Guideline 401(k) retirement plan might be one of the shortlists of plans you are considering or even all that you will ask for.

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Why 401(k) Plan with Guideline Group?

Guideline 401(k) guarantees you a fairy tale retirement in reality. The group of experts delivers the best service to make your dream retirement come true.

One distinguishing feature of the Guideline Group is that they collaborate with most payroll providers to ease you of the stress of making multiple requests to credit your plan.

The clients’ relation with the Guideline is one that keeps you requesting their services always. They are easily accessible for calls, emails, and chats with quick responses through those channels.

Imagine that retirement you have always dreamt of; the Guideline Group can make it a reality. Below are the ways the Guideline Group beats your imaginations:

1. Business Friendly

Most times, as a small business owner, you are stuck between saving cost and doing the best for your staff. You want them to have the best, yet you consider the income of your business. In the face of this dilemma, the Guideline Group comes as a ready solution to your dilemma.

The 401(k) plan that the Guideline Group offers is one that accommodates your desires to get a good retirement for your staff and your financial considerations. Every business has a place with the Guideline Group, irrespective of the size.

If you find it challenging to make a choice, experts’ advice can be made available to you. But bear in mind that the size of your business is not a reason to chicken out. They got you covered.

2. Payroll Integration

The Guideline Group syncs with payroll providers and integrates your plan with your payroll. Payroll providers like ADP, Gusto, Square Payroll, Paychex, and QuickBooks online are examples of payroll providers that the Guideline Group partners with.  

It thus becomes easy for you to operate the plan. It is like this, you approach them to get a plan that works best for you, they connect with your payroll provider, and they pick it up from there.

Unless you want to make specific changes to the plan, you do not need to continue the process of reminding them every time.

They make the deductions straight into the dashboard of your employees. So, on payday, you do not need to create a new application to get the payment made into your plan. You pay your staff and automatically credit their plan.

The administrative process that this requires is catered for by them. They see to it that your plan keeps running, well-optimized, and managed.  

3. Rewarding Investment

Asides retirement, which is saving for raining days, many employees still desire to have an investment that pays them well. The 401(k) plan with the guideline group is such that it supports the dreams of participants to have investments. The 401(k) plan does not charge additional fees on investment.

They stick their head out for you on that. Also, no additional participant’s fee is charged on investments that you make, as an employer, with a 0.06% of blended average annual fund fees for the managed portfolio as against 1.14% average fees that other 401(k) providers charge.

You have your retirement plan running steadily while you still invest. That’s a massive win for you.

4. Cost Predictability

Have you noticed that uncertainties are a huge turn off many times, especially when you need to make more crucial decisions?

At other times, you are itching to know how unstable the plan you intend to get on is. Guideline Group allays your fears. From the moment you choose the 401(k) plan with them, you can tell what the next six months will be like.

So, here is it. The Guideline Group charges an all-inclusive fee, starting at $39/month + $8/month per participating employee. While the plan subsists, no additional cost is added either for investment or setup.

So, it’s a case of starting the plan with a steady fee, and you continue just that way. You can easily predict your monthly pricing. You do not need to fear additional costs for investment, setup, or managing your account. 

5. Compliance

Most times, you want to know how compliant firms are with their plans. The Guideline Group does compliance testing and government filing just to ensure that you are compliant with the existing regulations that apply to your business.

They also ensure that their process does not flout any regulation set up by the government. A constant update well accompanies this on new regulations and a review of your plan to match up.

As part of the compliance offer, the Guideline Group helps you identify possible issues that may likely arise and renders expert advice on the management of such matters. Likewise, they prepare an annual government report on your behalf, based on your request. 

If nothing else, the last you want to think of is falling short on compliance, and the Guideline Group guarantees you a double check on that one.

6. Attractive Cost

While you are trying to ensure that you get the best for your staff and yourself, the cost is that one thing you can never look away from. In most instances, it makes you look away from really juicy deals.

With the Guideline 401(k) plan, you don’t lose out on quality while you still stay within your cost. This is the jawbreaker:

  • The setup fee for your plan is at zero cost.
  • Advisory fees are at zero cost.
  • Asset Under Management cost zero dollars.
  • You don’t pay a dime for custodian fees.
  • Third-party administration fees come at no cost.

The services that you make payment for are as affordable as the budget that you have made. Have a look:

  • The loan application costs $100.
  • Loan maintenance costs $75 per year.
  • Distribution and Refund, including hardship withdrawal, costs $50.

Bet you did not see those prices coming.

In cases of emergencies where you need loans, you can access loan from your plan at a minimum of 50% of your total credit or $1,000 and a maximum of $50,000. This comes with a cost, of course, but not an expense you can’t afford.

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🤔Why You May Not Consider Guideline 401(k) Plan?

There are always pros and cons, right? Everything is black and white. Well, Guideline 401(k) seems to have defied that maxim, at least as at now. Most participants’ comments and opinions about the plan, on various forums, have been overwhelmingly positive.

The only seeming drawbacks few have called attention to were unavailability of a mobile app, and shaky customer services, as the reps could not be reached easily. The latter is said to be improving, anyways.

This doesn’t confirm the Guideline 401(k) plan is perfect. The record, for now, is probably because of their relative newness compared to other Groups.

However, it may be an excellent idea to consider Guideline in your decision. At least, now. Who knows, the future may be different?

Well, you sure need to set up your plan, and that wouldn’t cost you as much sweat. Setting up your account with Guideline only takes a few steps that you can easily handle online. You can visit the company website for more information.