Banking & Savings, Insights

PlanPILOT 401(k) - Reviews, Benefits, Fees & Ratings

flik eco finance personal planpilot 401k review

Are you looking for a retirement plan that offers great benefits and low fees? If so, you should consider a PlanPILOT 401(k). This plan has quickly become one of the most popular choices for small businesses and their employees.

In this guide, we will discuss the features of a PlanPILOT 401(k), as well as the reviews and ratings from current users. We'll also provide information on how to sign up for a PlanPILOT 401(k) and what to expect in terms of fees.

What is a PlanPILOT 401(k)?

A PlanPILOT 401(k) is a retirement savings plan offered by many employers. It allows employees to save and invest for their future with pretax dollars.

How Does a PlanPILOT 401(k) Work?

A PlanPILOT 401(k) works by employees contributing a portion of their paycheck into the account. The money is then invested and can grow over time. Employers may also match a certain percentage of employee contributions.

What Are The Key Features of a PlanPILOT 401(k)?

There are several key features that make a PlanPILOT 401(k) unique and attractive to small business owners and their employees. One is the ability to choose from a wide range of investment options, including mutual funds, ETFs, and index funds.

Another key feature is the low fees associated with the plan. And finally, the PlanPILOT 401(k) offers a high degree of flexibility when it comes to how you can structure your plan.

What Commissions and Management Fees Does a PlanPILOT 401(k) Come With?

There are a few things to keep in mind when it comes to the fees associated with a PlanPILOT 401(k).

First, there is an annual maintenance fee of $30 per year. Additionally, there is a $50 account setup fee and a $75 termination fee. Lastly, there is a 0.25% commission charged on all investments made through the PlanPILOT 401(k).

What Are The Advantages of a PlanPILOT 401(k)?

There are several advantages of a PlanPILOT 401(k). The first advantage is that your employer can contribute to your account. This is a great way to save for retirement because you are not responsible for making the contribution yourself.

The second advantage is that you can choose how your money is invested. You can either choose a traditional investment option or a Roth investment option. With a traditional investment option, you will pay taxes on your contributions when you withdraw the money in retirement. With a Roth investment option, you will pay taxes on your contributions now, but the money will be tax-free when you withdraw it in retirement.

The third advantage is that you can take out loans from your account. This can be a great way to consolidate debt or pay for unexpected expenses.

Finally, you can withdraw your money early if you need to. However, you will pay a penalty if you do this.

What Are The Disadvantages of a PlanPILOT 401(k)?

The only real disadvantage of a PlanPILOT 401(k) is that it's not available to everyone. If your employer doesn't offer it, then you're out of luck. But if they do, it's definitely worth considering as an option for your retirement savings.

Another potential downside is that the fees can be higher than with other 401(k) plans. But, as we mentioned before, the PlanPILOT program is designed to keep fees low. So, if you compare apples to apples, you'll likely find that the PlanPILOT fees are very reasonable.

Finally, some people may not like the fact that they can't control how their money is invested. But, again, this is something that you can discuss with your employer. They may be willing to let you make some changes to the investment choices if you have a good reason for doing so.

What Are Some Alternatives to a PlanPILOT 401(k)?

There are many different types of 401(k) plans out there, so it can be tough to decide which one is right for you. Here are a few alternatives to the PlanPILOT 401(k) that you may want to consider:

The Vanguard Group

The Vanguard Group offers a wide variety of investment options and has a great reputation for customer service.

Fidelity Investments

Fidelity Investments is another popular choice for 401(k) plans. They offer a wide variety of investment options and have a good reputation for customer service.


TIAA-CREF is a large financial services company that offers a variety of investment options. They have a good reputation for customer service and offer a wide variety of investment options.

How Do You Open a PlanPILOT 401(k)?

You can open a PlanPILOT 401(k) by going to the company's website and clicking on the "Open an account" button. From there, you will be asked to provide some personal information so that the company can set up your account.

Once your account is open, you will need to fund it. You can do this by making a one-time contribution or by setting up automatic contributions from your paycheck.

Once your account is funded, you can start investing in the PlanPILOT 401(k) investment options. There are a variety of options to choose from, so you can pick the ones that best fit your investment goals.

What is The Minimum Amount Required to Open a PlanPILOT 401(k)?

The minimum amount required to open a PlanPILOT 401(k) is $100. This is a very low minimum compared to other investment options, making it a great choice for those just starting to invest.

What Are The PlanPILOT 401(k) Contribution Limits?

There are a few different types of 401(k) contribution limits that you should be aware of. The first is the elective deferral limit, which is the amount of money that you can contribute to your 401(k) on a yearly basis. For 2020, the elective deferral limit is $19,500.

The next type of 401(k) contribution limit is the catch-up contribution limit. This is an extra amount of money that you can contribute to your 401(k) if you're over the age of 50. For 2020, the catch-up contribution limit is $26,000.

Lastly, there's the overall 401(k) contribution limit. This is the total amount of money that you and your employer can contribute to your 401(k) on a yearly basis. For 2020, the overall 401(k) contribution limit is $57,000.

What Are The Eligibility Requirements for a PlanPILOT 401(k)?

To be eligible for a PlanPILOT 401(k), you must:

  • be at least 21 years old
  • have worked for your employer for at least one year
  • not be a part-time or seasonal employee

If you meet all of these requirements, you can start contributing to your PlanPILOT 401(k) as soon as you're enrolled in the plan.

Do You Pay Taxes On a PlanPILOT 401(k)?

The answer to this question depends on a few factors, including how much money you have in your account and how long you've been contributing.

If you withdraw money from your PlanPILOT 401(k) before you reach retirement age, you will generally have to pay taxes on the amount withdrawn. However, if you wait until retirement age to withdraw money from your account, you will not have to pay taxes on the withdrawal.

When Can You Withdraw Money From a PlanPILOT 401(k)?

You can withdraw money from your PlanPILOT 401(k) account as soon as you turn 59 ½. However, if you withdraw money before you retire, you will be subject to a penalty. The penalty is usually ten percent of the withdrawal amount.

How Does a PlanPILOT 401(k) Compare to a 401K?

When it comes to 401(k) plans, there are a lot of different options out there. But how does a PlanPILOT 401(k) compare to a traditional 401K? Here's what you need to know.

For starters, a PlanPILOT 401(k) has lower fees than a traditional 401K. That's because PlanPILOT is a fiduciary, which means that they are legally required to act in your best interests.

Another difference is that with a PlanPILOT 401(k), you have the ability to direct where your money is invested. With a traditional 401K, your investment options are limited to the funds offered by your employer.

Finally, a PlanPILOT 401(k) offers more comprehensive financial planning and investment advice than a traditional 401K. So if you're looking for a more hands-on approach to managing your retirement savings, a PlanPILOT 401(k) might be the right choice for you.

What Assets Are Available With a PlanPILOT 401(k)?

When it comes to 401(k)s, there are a lot of options out there. But what assets are available with a PlanPILOT 401(k)?

With a PlanPILOT 401(k), you have access to a wide range of asset classes, including stocks, bonds, and mutual funds. This means that you can diversify your portfolio and reduce your risk.

Why Do People Use a PlanPILOT 401(k)?

There are a few reasons why people use a PlanPILOT 401(k). The most common reason is to save for retirement. A PlanPILOT 401(k) allows you to contribute pre-tax dollars to your account, which can grow tax-deferred. This means that you won't have to pay taxes on the money you contribute or the earnings on your investments until you withdraw the money in retirement.

Another reason people use a PlanPILOT 401(k) is to get employer matching contributions. If your employer offers a matching contribution, it's like getting free money. For example, if your employer matches 50% of your contributions up to $500, that's an extra $250 in your account.

Finally, some people use a PlanPILOT 401(k) for estate planning purposes. By naming a beneficiary for your account, you can ensure that your loved ones will receive the money from your account after you die.

Does a PlanPILOT 401(k) Accept Rollovers?

A PlanPilot 401(k) does accept rollovers from other eligible retirement accounts, such as a traditional IRA. If you're thinking of rolling over your retirement savings to a PlanPilot 401(k), you'll first need to check with your current provider to see if they allow transfers out.

Once you've confirmed that everything is good to go on their end, you can initiate the rollover process with PlanPilot.

How Long Does It Take to Transfer to a PlanPILOT 401(k)?

The process of transferring your 401(k) to a PlanPilot account is simple and straightforward. The entire process can be completed in as little as five minutes. There are no hidden fees or charges associated with the transfer. Simply provide your current 401(k) information and PlanPilot will take care of the rest.

How Do You Put Money Into a PlanPILOT 401(k)?

There are a few different ways that you can put money into your PlanPILOT 401(k). The most common way is through payroll deductions. This means that you have a certain amount of money deducted from your paycheck each pay period and deposited into your 401(k) account.

Another way to contribute to your PlanPILOT 401(k) is through after-tax contributions. This means that you contribute money to your account that has already been taxed. After-tax contributions are not tax-deductible, but they can grow tax-deferred until you withdraw them in retirement.

The last way to contribute to your PlanPILOT 401(k) is through catch-up contributions. Catch-up contributions are available for those who are 50 years of age or older. The catch-up contribution limit for 2020 is $25,000.

Can You Open a PlanPILOT 401(k) For a Child?

Yes, you can open a PlanPILOT 401(k) for a child. This type of account is called a custodial account. A custodial account is an investment account that is managed by an adult on behalf of a minor child.


About Jermaine Hagan (The Plantsman)

Jermaine Hagan, also known as The Plantsman is the Founder of Flik Eco. Jermaine is the perfect hybrid of personal finance expert and nemophilist. On a mission to make personal finance simple and accessible, Jermaine uses his inside knowledge to help the average Joe, Kwame or Sarah to improve their lives. Before founding Flik Eco, Jermaine managed teams across several large financial companies, including Equifax, Admiral Plc, New Wave Capital & HSBC. He has been featured in several large publications including BBC, The Guardian & The Times.

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