Can I pay the monthly wrap fee for my employees?
Currently, under your Honest Dollar retirement plan, you can choose whether or not to pay the monthly fee associated with your employees’ retirement accounts.
If you choose to pay for your employees’ retirement accounts, the wrap fee is $3 per month for the first year and $5 per month thereafter for either a Roth or Traditional individual retirement account for your employees. You will pay the wrap fee for one retirement account for each employee. If an employee opens an additional Roth or Traditional account, they will pay the Wrap Fee associated with this account.
If you have already established, or decide to offer SEP-IRAs for your employees, you will pay the wrap fee associated with the SEP IRAs.
Participating employees will bear the additional fees and expenses of the underlying investment products and any other costs associated with the program.