Is yours? 3 things to ask yourself.

Your 401k plan might be good. But is it great? Here are three questions to consider when evaluating your 401k.

1. Is your 401k plan wrapped in an annuity product?

If your 401k plan is wrapped in an annuity product, there are two big reasons why you may want to reconsider. FIrst, annuities come with additional fees, which makes them more expensive than a stand alone 401k fee structure. Second, annuities are primarily used because they offer tax-deferred growth. But your retirement plan is already tax-deferred, so there’s no need for an annuity wrapper.

2. Is your plan with an industry leader?

Look for an industry leader for the size of you 401k plan. What we mean by an industry-leading fund family is a fund family and plan design that offers a low fee structure and excellent investment options. Watch out for proprietary funds.

3. Is your plan professionally bundled or generically bundled?

A lot of 401k plan providers offer standardized 401k solutions that are generically bundled. If you’re looking for a solution that provides a high level of customer service, look for something professionally bundled. Professionally bundled solutions group top-rated fund families with local investment advisory and compliance support. This solution offers a fully customizable investment and selection plan with a high-level of customer service support and fiduciary compliance.