Jay Pluimer Published in BAM Alliance | No Free Lunch and No Free 401(k) Plan

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Jay Pluimer explains the dangers and expense of selecting the free lunch plan as an employer and insight into the benefits of hiring a fiduciary to manage your 401(k) plan “No Free Lunch and No Free 401(k) Plan” shared by The BAM Alliance, June 16, 2016

Most of us understand that if somebody else picks up the check for lunch, there is probably a catch. The old adage about there being no such thing as a “free lunch” is true more often than not. Hopefully, though, the offset isn’t worth more than the cost of the meal. When it comes to 401(k)s, particularly for small- to mid-size companies with around 100 employees or less and plan assets under $10 million, many employers select the free lunch option when they launch their plan because they want to provide a benefit for their employees but don’t necessarily want to write another check. The “catch” for this free lunch includes many of the risks associated with being a fiduciary.


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