Backed by decades of experience and trusted by over 800,000 small businesses, payroll leader ADP offers 401(k) plans that make it easy to provide employees with a retirement benefit.
From our powerful plan dashboard to helpful administrative services like notification delivery and IRS filings, we make it easy.
ADP takes on fiduciary responsibilities for you. This includes both administrative and investment management - so you can stay focused on your business.
Our standard plan fits most small businesses and you can modify eligibility requirements, matching contributions, and more to get a plan that fits you best.
Not only do you get a full-featured 401(k) with transparent pricing,
you even get tax credits to offset fees1.
Easy setup and enrollment
Seamless payroll integration
Helpful employee tools
Smart plan features
($3/mo per participant)
(Customization may affect rates)$ — /mo
ADP Strategic Plan Services, LLC will impose a fee of .10% of covered assets, subject to a minimum fee of $20.83 per month, as more further described below.
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Whether you want something simple and turn-key or need to customize,
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401(k) costs vary and fee structures differ from provider to provider. It is best to review each company's offering closely considering both near-term and long-term expenses as well as which fees are paid by the employer and the employee. Differences in pay fee structures can impact the long-term savings potential of the 401(k).
Yes, small businesses can offer a 401(k). There are plans designed for sole proprietors as well as companies with employees and each plan type has its own requirements and features. 401(k) plan providers often offer several options with varying fee structures.
Creating a 401(k) - sometimes called 'sponsoring a 401(k)' - involves a number of steps. Often times a plan provider will handle many of these steps for you. Activities required for establishing a 401(k) include selecting a plan, setting up a trust to hold plan assets, maintaining records of employee contributions and values, and providing information to plan participants. There are other administrative tasks as well like connecting your 401(k) plan contributions to your payroll process.
That depends. A small business owner who is actively involved in the business can participate in the company's 401(k) as an employee - making contributions on behalf of their own retirement savings. However, an owner who is passively involved may not be able to contribute. Consult with a certified financial advisor to better understand your options.
Sometimes. If you are a self-employed member of a small business that operates as an LLC, the IRS allows you to set up a 401(k) plan for yourself. But not every member of an LLC is eligible, as there are some restrictions. For example, the IRS doesn't consider a member’s passive involvement in an LLC as self-employment when no services are provided to the business. Such individuals may not be able to participate in that company's 401(k). Consult with a certified financial advisor to better understand your options.
Your employees count on you and you can count on ADP. We’re here to help you evaluate your choices and to provide tools and resources that make it easy to offer your own 401(k).