If you have investors in your company, you probably spend a lot of time reassuring them on how their money is spent. When you offer a 401(k) plan to your employees, the least you can do is make sure they get the same kind of education about their investments.

Most advice you read when you're deciding between 401(k) vendors focuses on nuts and bolts - fund options, investment performance, and fees. While these are critical elements in choosing a 401(k) plan, don't overlook the importance of one basic quality: good service.

Service includes training and support, from helping your employees understand how a plan works, to educating them on how to choose the right distribution of funds, follow their investments' performance, and make portfolio changes as needed.

By evaluating vendors on the service they provide, you're making sure that your employees learn how best to use their retirement planning tools. You should emphasize to employees, however, that they are ultimately responsible for their own financial security at retirement.

The Profit Sharing/401(k) Council of America (www.psca.org), a nonprofit trade association, emphasizes that fees should not be the sole factor in choosing a provider. Higher fees can be justified by investment performance and a good service program, which can encourage program participation and loyalty. During this time of market uncertainty, these are important considerations to keep a plan running.

So how do you evaluate the quality of a vendor's investment education? The PSCA recommends that you consider the following points:

Does your vendor send representatives to explain plan basics to your employees? Find a way to review the quality of these presentations. Are they canned speeches or interactive sessions in which employees can ask questions and express concerns?

What sort of materials does the provider use to educate your employees? An effective education program must address the needs of both novice and experienced investors.

How are materials distributed? Most vendors offer print materials, and about half also offer information on the Web. Is there a Web site that provides stock quotes, news stories, overall information about finance, and customized information for each client on their investment performance? If not, ask whether the vendor plans to offer education materials on the Web in the future.

Can you reach live customer representatives only during working hours or are they also available on weekends? Is automated telephone service available 24 hours a day? Does the plan provide timely, accurate, and informative quarterly statements? Look for a vendor who will provide a variety of avenues for your employees to obtain account information.

If initial conversations with your workers show that only a small percentage of your staff would opt to participate in a 401(k), this may be a sign that they have certain misconceptions or don't understand very much about retirement plans. Your goal as an employer is to get your workers to participate in your plan and, as in other cases, education is the linchpin for successful program implementation.