Retirement Services for Small Business

More than 1.3 million people rely on ADP to help them chart a course for a successful and secure retirement. For over 20 years, we’ve provided companies like yours with the tools, service and access they need to help make their employees retirement ready.

Why an ADP Retirement Plan for Your Small Business?

You need to do everything you can to attract and hold onto the best talent. An employee retirement plan can help you achieve greater stability for your company, while also helping your employees meet their long-term financial goals. But administering and managing a company retirement plan isn’t always a straightforward process. Whether it’s a 401(k) plan or a SIMPLE IRA, you don’t have to navigate that road alone.

ADP has designed retirement solutions for small business with these core principles in mind:

  • Retirement administration should be easy. Our integrated payroll and recordkeeping solution takes many of the most time-consuming, tedious administrative tasks off your plate so you can focus on growing your business – not on running a retirement plan.
  • Every worker should be able to retire comfortably. We help your employees plan and prepare for retirement with access to guidance, education, planning tools, self-service account management and toll-free assistance.
  • Our interests should align with your interests. Our 401(k) investment platform gives you access to a universe of non-proprietary fund options and our fees are consistent and easy to understand. That means that you can be certain that ADP is providing the objective information you need to meet your fiduciary responsibilities.

Transfer Your Current Plan – Or Set Up a New One

Whether you’re shopping around for a new administrative service provider for your current retirement plan – or looking for help with starting a new plan – ADP can help take you through every step of the process. Our two most popular plan types for small businesses are:

  • 401(k) plan. This plan type offers higher contribution limits, flexible vesting schedules and optional company matches. We can help you design and implement your company’s new plan. For a new plan, you may be eligible for tax credits for start-up administrative expenses.  Or we can move your existing 401(k) plan over to ADP with an easy transfer process that takes care of all the paperwork. You’ll discover just how easy it can be with a 30-minute plan “health check” that helps you evaluate your compliance risk and see a side-by-side investment and fee comparison of your current plan vs. what ADP can offer.
  • SIMPLE IRA. This plan offers less paperwork than a 401(k) plan, fewer reporting burdens and no minimum participation requirements. Administrative fees can cost your business as little as $480, and you may qualify for tax credits for start-up administrative expenses. You can lower your own current income for federal income taxes and the required employer contributions can be deducted as a business expense. Automated contributions and access to high-quality investment options round out the advantages of this plan type.