The Simple HR 401(k) also offers the following:

1. Loans against your 401(k) – up to 50% of your vested amount (certain cases for hardship loans may apply)
2. Email weekly updates of your 401(k) balance
3. On-line access to monitor your 401(k) – you can make balance transfers from one fund to another (or multiple funds)
4. You can stop your deferrals at any time but you may not enroll again until the next quarterly enrollment period
5. Quarterly statements are mailed out to each participant
6. You can change your deferral amount or percentage at the beginning of any quarterly enrollment period

There is an annual administrative fee that every participant pays while enrolled in the Simple HR 401(k) which is $39.  This is normally collected quarterly and while it is transparent to the participant it covers all of the services offered above (except for a loan origination fee and annual maintenance fee).