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High fees, poor service, or a plan that no longer fits? Switching providers typically takes 60 to 120 days, and your employees keep their money and their investments working the whole time.
We handle the transition from start to finish.
A free review of your current 401(k)
Switching providers means moving your plan’s recordkeeping, administration, or both to a new firm. The plan itself usually stays the same legal plan. Assets are transferred from the old provider to the new one, investments are mapped to new options, and payroll is connected to the new platform.
Employees experience a short blackout period, often a few weeks, when they can’t change investments or take withdrawals. With good planning, nobody’s savings are interrupted, and contributions keep flowing.
| When | What happens |
|---|---|
| Weeks 1 to 2 | Review the current plan, fees, and contract terms. Choose the new provider and plan design. |
| Weeks 3 to 6 | Sign new agreements, update or restate the plan document, and map investments. |
| Weeks 6 to 8 | Send employees the required blackout notice, at least 30 days before the blackout starts. |
| Weeks 8 to 12 | Old provider liquidates and transfers assets. New accounts are set up and payroll is connected. |
| Weeks 12 to 16 | Blackout ends. Employees get new account access, and the transition is reviewed. |
From first call to first contribution, we handle the design, the math, and the compliance.
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We look at your income, age, staff census, and current plan to see what’s possible.
We layer your 401(k), profit sharing, and cash balance plan around your tax goals.
You get a clear illustration of your deduction, your savings, and your staff cost before you commit.
Plan documents, annual actuarial work, testing, and filings, handled every year.
As your third-party administrator, we manage the conversion with both the old and new providers, review your plan design and fees, prepare the plan document and employee notices, and stay on as your plan administrator after the move. We work with the recordkeeper that fits your business and don’t take kickbacks from any of them.
Michael, a successful business owner with no employees, wanted to maximize his retirement savings while minimizing taxes.
Through a custom-designed retirement plan stack, he and his wife were able to contribute over $575,000 across multiple plans in a single year.
This strategy not only helped secure their financial future but also generated over $222,000 in immediate tax savings, significantly increasing their cash flow and long-term wealth-building potential!
James runs a construction company with high employee turnover and wanted a way to protect cash flow while maximizing retirement contributions.
Through a custom 401(k) and profit-sharing plan design, we used strategic eligibility and vesting schedules to limit costs from short-term employees while allowing ownership to maximize contributions.
This strategy protected company assets, controlled expenses, and helped James build significant retirement wealth.
Eileen, a small business owner, needed a low-cost retirement plan that would meet state mandate requirements while helping her recruit and retain high-quality employees.
Eileen used a customized 401(k) solution focused on minimizing expenses, giving Eileen a competitive edge in hiring without pulling resources away from reinvesting in her growing business.
By using tax credits, her design allowed her to stay compliant, attract top talent, and keep her financial priorities aligned.
*These are hypothetical clients with hypothetical situations and plan designs.
Learn more: 401(k) Administrators | Safe Harbor vs. Traditional | The Retirement Plan Stack | Tax Strategies for Business Owners | About Us
Usually 60 to 120 days from signing with the new provider to the end of the blackout period, depending on the old provider and the size of the plan.
Yes. Plans can move at any time. Avoiding year end and the annual testing period makes the transition smoother.
No. Accounts are transferred, not cashed out. Investments are briefly sold and repurchased in the new options, so they may be out of the market for a short period.
A temporary period, often a few weeks, when employees can’t change investments or take loans or withdrawals while assets move. Employees must get at least 30 days’ notice.
Sometimes. Some group annuity contracts have surrender charges, and some providers charge termination fees. We review your contract before you switch.
Often. A new provider may require the plan to be restated on its document, which is also a good time to fix plan design issues.
Yes. A conversion is a natural time to redesign the plan, including adding profit sharing or a cash balance plan.
Life, Inc. Retirement Services does not offer tax advice. Please always consult your tax professional about your eligibility for tax credits.
Life, Inc. Retirement Services is a Registered Investment Advisory Firm of the state of Ohio and licensed in Florida and Maryland. All emails and communication are meant to be informative and educational and should not be considered a sale of security until proper notification and disclosures are given.