The rule behind every script: lead with their number, not your pitch
A plan sponsor receives plenty of messages offering a "complimentary plan review". Very few mention anything about the plan. Because Form 5500 filings are public, you can open with a fact the sponsor can check: what the plan reported in administrative expenses, how that compares with plans of similar size, that employee deferrals were deposited late, that the plan has no Roth option on record. One accurate, relevant fact earns more attention than three paragraphs about your firm.
Two cautions. State the fact as what the filing shows, with the filing year, because filings can contain errors and the sponsor may have changed things since. And never imply wrongdoing; a late deposit or a high fee ratio is a reason for a conversation, not an accusation.
First email: the fee observation
Subject: [Company] 401(k) — a number from your 2024 filing
Hi [First name],
I work with [industry] companies on their retirement plans. Looking at [Company]'s most recent Form 5500, the plan reported about [$X] in administrative expenses on [$Y] in assets — roughly [Z]% a year. Plans of a similar size in the filings typically report closer to [benchmark]%.
There can be good reasons for the difference, and the filing does not show everything. If it would be useful, I can send a one-page comparison against similar plans — no meeting needed.
[Name, firm, phone]
Why it works: it is short, checkable, offers something without asking for time, and concedes that you do not have the full picture.
First email: the compliance signal
Subject: Question about [Company]'s 401(k) filing
Hi [First name],
On [Company]'s [year] Form 5500, the plan answered "yes" to the question about late deposits of employee contributions. That is more common than people think and is usually a payroll-timing issue, but it is a question the Department of Labor asks on every filing.
I help [industry] plan sponsors tighten up exactly this kind of process. Would a short call be useful, or shall I send a one-page summary of what the filing shows?
[Name, firm, phone]
Use this only when the filing actually shows the item, and keep the tone matter-of-fact.
Follow-up sequence: four touches over about three and a half weeks
Most replies come from follow-ups, and each one should add something rather than ask "did you see my email". A sequence that works is day 0, day 4, day 11 and day 25.
- →Day 0 — the specific observation from the filing, with a low-effort offer.
- →Day 4 — one new fact: how the plan compares with others in the same industry and size band, or a second item from the filing.
- →Day 11 — something useful that stands alone: a short note on a rule change that affects them, such as the Roth catch-up requirement for higher earners.
- →Day 25 — a polite close: you will stop writing, the comparison is theirs if they want it, and here is how to reach you.
Call opener
"Hi [First name], this is [Name] with [Firm]. I'll be brief — I was looking at [Company]'s 401(k) filing and one number stood out: the plan reported about [Z]% of assets in administrative expenses, where similar plans are closer to [benchmark]%. Have you had the plan's costs benchmarked in the last couple of years?"
Then stop talking. If they say yes, ask who did it and what changed. If they say no, offer to send the one-page comparison and ask for the best email address. Do not try to book the meeting on the first call unless they ask.
Voicemail (under 25 seconds)
"[First name], [Name] at [Firm], [phone]. I was looking at [Company]'s public 401(k) filing and have one specific observation about plan costs that I'd like to send you — I'll email it over with the subject line '[Company] 401(k)'. Again, [Name], [phone]."
A voicemail's job is to make the email get opened. Say the subject line.
When a gatekeeper asks what it is regarding
"It's about a figure in the company's public 401(k) filing with the Department of Labor. I have a one-page comparison for whoever oversees the plan — is that [First name], or someone in HR or finance?"
This is truthful, specific and gives them an easy way to route you. The person named as signer on the filing is often a TPA employee or someone who has moved on, so ask who oversees the plan now.
Who to address
In companies under about 100 employees the decision maker is usually the owner, president or CFO. In larger companies it is more often the CFO, a VP of HR or a benefits director, sometimes acting through a committee. The name on the Form 5500 is a starting point, not an answer. 401kHunter looks up the current decision maker for the specific plan and returns a confidence score with each contact, refunding the credits if it cannot find one.
Compliance notes
These examples are starting points, not approved communications. Marketing by registered representatives and investment advisers is subject to FINRA and SEC rules and to your firm's review. Commercial email must comply with CAN-SPAM, including a physical address and a working opt-out. Calls are subject to the TCPA and do-not-call rules. Benchmarks must be fair and sourced. When in doubt, send less and have it reviewed.