Historically, small employers have steered clear of offering 401(k) plans, seeing them as complicated to establish an🍨d costly to administer. The rules for running a plan properly are admittedly complex. But increasingly, 401(k) management compani♚es are helping to make the task easier by providing plans geared to the little guys of the business world.

If you are 澳洲幸运5官方开奖结果体彩网:a small business owner considering initiating a 401(k) plan for your employees (and yourself), here are ten of the top retirement plan providers. They not only 澳洲幸运5官方开奖结果体彩网:offer affordable plans but can act as administrators and investment fiduciaries—relieving you of the headache-inducing homework tha💝t comes with any pla♋n.

ADP

ADP's 401(k) plans offer investment options from more than 300 investment managers. Three investment line-ups are available for participants, based on their familiarity with investing and financial assets.

In addition to retirement plans, ADP specializes in payroll, tax filing, HR🧸, insurance and administrative services. ADP’s small business division (1 to 49 employees) provides integration of payroll and recordkeeping with 401(k) plans, an important benefit for small employers.

Employees with existing 401(k) accounts have the option ▨to transfer those plans into the new plan, and a mobile app lets employees check their retirement accounts from their smartphones and other devices.

American Funds

With more than 360,000 retirement plans overall, 澳洲幸运5官方开奖结果体彩网:American Funds provides 401(k) account options that can be tailored to any size company, including startups and those that have rec𒐪ently merged🍬 or made acquisitions.

Their plans include both traditional and Roth versions. Investment choices can be target-date focused or a mix of individual mutual funds.

Betterment for Business

A newer player, 澳洲幸运5官方开奖结果体彩网:Betterment for Business started offering its 401(k) plans to smaller businesses in 2016.

As a 澳洲幸运5官方开奖结果体彩网:robo-adviser, Betterment addresses many of the cost issues associated with the administration and management of a company 401(k) plan by using automated algorithms. In addition, Betterment promises transparent pricing for administering the plans. Monthly fees start at $100 per month, plus an annual 0.25% of assets and a one-time implementation fee of $500.

Charles Schwab

Charles Schwab offers customizable 401(k) plans for self-employed business owners and larger companies. The company launched its first 401(k) product in 1996, and it was the first to allow investors to buy exchange-traded funds in their retirement funds.

Schwab's business and 401(k) plans have no fees for opening accounts, and no minimum balance. There are also no commissions for online trades of listed stocks and some mutual funds, but there are fees for options and broker-assisted trades.

Automatic enrollment is available and employees can get help or use a self-directed 澳洲幸运5官方开奖结果体彩网:brokerage account.

Edward Jones

Edward Jones offers small employers a variety of options when it comes to investments in its 401(k) retirement plans. They include stocks, bonds, mutual funds, and government securities.

The company offers education and administrative support to both business owners and employees. After the plan is establis♔hed, employees can review their accounts online or through mobile🐼 apps made available by Edward Jones. 

Employee Fiduciary

Employee Fiduciary comes out of the gate offering to let business owners their current providers’ 401(k) fees to Employee Fiduciary fees. And indeed, Employee Fiduciary has very low fees. It costs just $500 to start a new plan or $1,000 to convert an old one. Small employers pay $1,500 a year for up to 30 employees plus 0.08% of 澳洲幸运5官方开奖结果体彩网:assets under management.

Employees have access to 377 mutual fund families (including Vanguard), all available ETFs and even a 澳洲幸运5官方开奖结果体彩网:brokerage window through Charles Schwab.

Despite its low fees, E﷽mployee Fiduciary offers all the services of a full-price provider: tax return forms, annual report summaries, and benefit statements.

Fidelity Investments

澳洲幸运5官方开奖结果体彩网:Fidelity Investments has consultants to help business owners select a plan and then, once the plan is established, provides access for employees and owners via the internet. The compꦜany also offers a mobile app t✱hat allows employees to monitor their individual accounts.

Employees can transfer old retirement accounts into th♈eir new 401(k). Fidelity provides integration with payroll services, an advantage for small-business owners, as well as the full roster of services (plan administration, record-keeping, trading, and investment advisory).

Merrill Edge

澳洲幸运5官方开奖结果体彩网:Merrill Edge lists streamlining, convenience and affordability as key advantages to its small business 401(k) plan. Also included are the usual benefits—澳洲幸运5官方开奖结果体彩网:tax deductions for the employer, investment fiduc🍌iary support, and educational support for employees.

With an annual asset-based fee of 0.52%, Merrill boasts pricing that is lower than many competitors. Its plan includes online account management—a c𒅌ommon feature in most 401(k) plans. An automatic enrollment option, as well as a Roth 401(k) option, are also available. Employers have the flexibility to contribute on a year-to-year basis.

ShareBuilder 401(k)

ShareBuilder 401(k) has retirement plans specifically designed for small employers. There are four different 401(k) options—individual, simplified, customized, and tiered profit sharing.

Each plan has distinct matching, vesting, and profit-sharing options and once the plans are established, employees are able to transfer existing retirement accounts into their new 401(k) account. In addition, Sh🐲areBuilder retirement plans integrate with the majority of p𝓰ayroll providers. 

T. Rowe Price

Advertising its small business 401(k) plans as 💙appropriate for companies one or more employees and less than $5 million in plan assets, T. Rowe Price says it offers a “cost-effective structure” for both sponsors and participants.

Investment options include a range of T. Rowe Price and non-T. Rowe Price investments. There is a 澳洲幸运5官方开奖结果体彩网:plan sponsor resource center as well as 24/7 website access for participants. Sponsors may select from over 5,000 funds.

The Bottom Line

Of course, nothing replaces 澳洲幸运5官方开奖结果体彩网:due diligence and good old-fashioned homework when it comes to checking out various 401(k) plan providers. Make sure you ask enough questions and more important, the 澳洲幸运5官方开奖结果体彩网:right questions when considering a 401(k) plan for yourself and yoꩵur employees.