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So, the all-important question: who are the best 401(k) providers for small business? We’ve done the legwork for you, assembling countless hours of research, reviews, and expert opinions into a simple, easy-to-digest guide. Click on these links to jump straight to a specific section.You’ll get side-by-side comparisons of 6 small business 401(k) providers that are frequently reviewed or mentioned by the media. Before we get into the 401(k) provider comparisons, it helps to understand: what makes a good small business 401(k) provider? We’ve broken this down below: Price is normally the first thing people consider when making a big purchase, and 401(k)s are no exception.
So when choosing a 401(k) provider for your small business, you’ll want to go with one that takes all that complex, tedious administrative work off your plate.
Better yet, they should act as both 3(16) and 3(38) fiduciaries – or, to put that in plain English, they should take for plan administration, AND building & optimizing your investment fund lineup.
That’s everything from enrolling new employees to depositing contributions to taking care of the dreaded large plan audit.
Our platform also runs 44 unique validation checks each time you run payroll to scan for errors.
Our goal with this article is to save you time by gathering all the information from across the web in one place.
With a benefit as important as the 401(k), it pays to do your due diligence and carefully choose the best 401(k) provider for your small business.
Information was gathered from provider websites & 3rd party sources as of May 2019.
Providers’ offerings may be slightly different from what's denoted on their websites or as reported by 3rd parties and therefore on this chart.
Full disclosure: with 16 mentions in the media and several reviews across the web, we (For Us All) are one of the 6 small business 401(k) providers in the list.
We included information about our company and what makes our solution different, and for the other providers, we compiled their media mentions and user reviews from across the internet.