In article
<20fecb073e20fdd1f51caf61ddf195c1[at]localhost.talkaboutinvestments.com> ,
jam8b <moorejona[at]hotmail.com> wrote:

- quote -

I would suggest a funds supermarket that has access to a wide
array of mutual funds, has a solid money market fund, and allows
stock trading at discount prices. Vanguard is an example of one
that has worked well for me in the past.

-john-

--
================================================== ==================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
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jam8b wrote:
- quote -

I presume you are talking about a SIMPLE-IRA to be sponsored by your
business. Note that, generally, with a SIMPLE-IRA the employee is
the owner of the account and generally must be able to either
specify their own SIMPLE-IRA account to hold the contributions or,
if you use a "standard" set of accounts for all employees, have the
right to transfer the contribution free of any charges to another
SIMPLE-IRA.

Only if you go for a SIMPLE-401(k) (and there are a number of
problems with those, and with the change in standard 401(k) rules
there is virtually no reason to have one) can the funds be "locked"
into a specific account.

So, in reality, the issue primarily would be that each individual
could select his/her own custodian offering the features they want,
while the employer could either deal directly with the individually
selected funds or pick a company that will generally handle the
contributions under the required transfer agreement. Vendors agree
to take on the latter primarily because they know most people are
lazy <grin> and won't move the funds.

I would suggest, given the criteria you have suggested, that you
look at the various discount brokerages. Realize, though, that
there are compliance issues with a SIMPLE plan (they are *simpler*
to run than a full blown 401(k), not really simple <grin> ) and with
most discount brokerages you are going to be fully responsible for
all compliance issues--meaning you need to learn the law inside and
out *OR* hire someone to consult with you to do that.

--
Ed Zollars, CPA
Phoenix, Arizona

We are a small business and less than 10 people would be participating. I
would like to be able to trade individual stocks and bonds on the account
with low flat-rate trading fees and low yearly maintenance fees. Any
suggestions?