401(k) Case Studies

Tech Companies

A well-established technology company needed a 401(k) to attract new employees and help highly-compensated team members.

 After years of high growth, they realized their 401(k) was still the one their payroll company provided when they were a tech startup — expensive, inflexible, and hard to work with, which is pretty common for a company focused on their business, not their benefits. They asked EVOadvisers to help deliver a compelling 401(k). Here’s a snapshot of what changed.

EVOadvisers answered my questions before I even knew to ask them. They anticipate our needs and are proactive with information before we need it.

– Tech HR Director

Disclosure: This testimonial was given by a current client. No cash or non-cash compensation was provided for the testimonial. We are not aware of any material conflicts of interest on the part of clients giving a testimonial resulting from their relationship with EVOadvisers.

Simplified the plan.


Their plan was integrated with their payroll company but was really an insurance company offering.

Investments —

  • Limited investment options with no pre-built allocation models.
  • High cost insurance investment options – not mutual funds with ticker symbols, making it difficult to find out their true cost.
  • Employee website had very limited capability to learn about investment choices and account performance.

EVOadvisers provides a main point of contact, coordinating an experienced record keeping and third party administration team at Employee Fiduciary.

Investments —

  • Diversified, low cost investment options with pre-built EVOadvisers allocation models.
  • All mutual funds with tickers — so employees can do all the research they want. No opaque insurance “separate accounts.”

Maintenance — Simple process to let employer know key dates and timelines to be in compliance with regulations.


Amplified the experience.


Service — Insurance company provided:

  • Basic support through a call center,
  • No investment committee / plan oversight processes,
  • No monitoring of fees, fund performance, or compensation to service providers, and
  • No transparency of fees for participants.

Investments — 91% of investment options are “proprietary separate accounts of the insurance company” — little transparency on true cost and performance.


Service —

  • Experienced support team to help answer plan sponsor questions.
  • Provide proactive support and at-a-glance reference tools to meet plan deadlines and ERISA reporting requirements.
  • Participant advice days, giving employees the opportunity to meet with a CFP® professional to discuss their 401(k).
  • Customized videos and resources pertaining to their 401(k) to help onboard new employees.
  • Ongoing advice on optimal plan design to meet employer’s evolving needs.

Investments —

  • Monitor investment positions and update models annually.
  • Offer transparency to participants through use of low-cost, publicly-traded mutual funds.

Quantified (and lowered) the costs.


Total annual cost: $33,409

  • Annual cost to plan sponsor: $6,250
  • Annual cost to participants:  $27,159
  • Average reported fund expense ratio: 0.93%

Reduced plan costs by more than 29%

Total annual cost: $23,628*

  • Admin costs: $4,062 (tax deductible business expense)
  • Investment costs: $19,566 (average fund expense ratio: 0.08%)

*Costs are from the time the plan moved to EVOadvisers management.