Retirement Plan Comparison for Employers | Vestwell
Plan Comparisons
Vestwell’s pricing is simple, scalable, and built to support your business needs with diverse plan options, whether launching your first retirement plan or expanding your retirement benefits.
Starter(k)
A simplified 401(k) for first-time plans with preset features, streamlined compliance testing, and no employer contributions.
Setup fee
$49/month
Participant fees
+ $8/month per active participant
+ 0.20% asset-based investment management fee³
Key Features:
- ✓ Plan Availability: First-time plans connected with eligible payroll providers⁴
- ✓ Plan Design: Preset plan design with no employer contributions
- ✓ Onboarding: Self-service digital setup with dedicated service team available as needed
- ✓ Administration: Built-in plan administration with exemption from certain annual tests
- ✓ Contribution limit: $6,000 employee contribution limit⁵
Workplace
A streamlined offering for businesses setting up their first plan at an affordable price point, with basic plan design options.
Monthly Fee
$125/month
Participant fees
+ $8/month per active participant
+ 0.20% asset-based investment management fee³
Key Features:
- ✓ Plan Availability: First-time plans
- ✓ Plan Design: Standard options and employer contributions, including Safe Harbor options
- ✓ Onboarding: 1:1 onboarding contact
- ✓ Administration: Built-in administration and compliance
- ✓ Contribution limit: $23,500 employee contribution limit⁵
Plus
Our most popular option, available for businesses transferring an existing plan and new plans, with more flexible plan features.
Monthly Fee
$175/month
Participant fees
+ $8/month per active participant
+ 0.20% asset-based investment management fee³
Key Features:
- ✓ Plan Availability: First-time plans and plan transfers
- ✓ Plan Design: Flexible options and employer contributions, such as discretionary match options
- ✓ Onboarding: 1:1 onboarding contact with specialist plan design consultation available
- ✓ Administration: Built-in administration and compliance
- ✓ Contribution limit: $23,500 employee contribution limit⁵
Solo(k)
A 401(k) for self-employed individuals to maximize their retirement savings with employee and employer contributions.
Monthly Fee
$45/month
Other fees
+ One-time origination fee (may apply)
+ 0.30% asset-based fee³
+ $150/year for spouse (optional)
Key Features:
- ✓ Plan Availability: First-time plans for self-employed individuals and their spouses
- ✓ Plan Design: Preset plan design and streamlined employer contribution options
- ✓ Onboarding: Self-service digital setup with dedicated service team available as needed
- ✓ Administration: Built-in plan administration with exemption from certain annual tests
- ✓ Contribution limit: $23,500 employee contribution limit (plus “employer contributions”)⁵
| ### Compare plans: | ### Starter(k) | ### Workplace | ### Plus | ### Solo(k) |
|---|---|---|---|---|
| ### Personalized Service | ||||
| 1:1 Onboarding Contact? | ||||
| Dedicated Service Team (accessible via phone, email, live chat)? | ||||
| 24/7 AI Chatbot? | ||||
| Robust Help Center & Educational Content? | ||||
| Financial Wellness Employee Learning Center? | ||||
| Multilingual Call Center in 240+ Languages & Portal Access in 18 Languages? | ||||
| Rollover Support? | ||||
| Plan Design Consultation? | Self-service, Pre-approved Plan Design | Express Plan Design Consultation Available | Available with Vestwell Plan Design Specialist | Self-service, Pre-approved Plan Design |
| ### Streamlined Plan Management | ||||
| Recordkeeping & Custody? | ||||
| 3(16) Fiduciary Plan Administration? | ||||
| IRS Form Filing (e.g. Form 5500)? | ||||
| Compliance Testing & Tools? | ||||
| Mid-Year Compliance Testing Simulation? | Not Applicable | Not Applicable | ||
| 3(38) Fiduciary Investment Management ? | ||||
| Goal-based Managed Accounts⁶? | Available | Available | Available | Available |
| 190+ Payroll Integrations? | Integration with Select Payroll Providers | |||
| Digital Setup? | ||||
| Mobile App? | ||||
| Custom Saver Investment Strategies? | ||||
| Plan Document Maintenance Program? | $20/Month Add-on | $20/Month Add-on | $20/Month Add-on | $20/Month Add-on |
| ### Flexible Plan Features | ||||
| IRS Employee Contribution Limit? | $6,000 | $23,500 | $23,500 | $23,500 |
| Pre-Tax & Roth Employee Contributions? | ||||
| New/Existing Plan Status? | New Plans Only | New Plans Only | New Plans and Existing Plan Transfers | New Plans Only |
| Self-Directed Brokerage Accounts? | Available Add-on | Available Add-On | ||
| Employee Eligibility ? | Preset | Basic Options (e.g. None,⁷ Elapsed Time) | More Flexible Options (e.g. None,⁷ Elapsed Time, Hours-based) | Preset |
| Vesting Schedules? | Not Applicable | Flexible Options | More Flexible Options | All Vesting is Immediate |
| Safe Harbor Employer Contribution Options? | No Employer Contributions | Basic Options (e.g. Match, Non-elective Contribution) | More Flexible Options (e.g. Match Options, Non-elective Contribution, QACA Options) | |
| Discretionary Employer Matching Contribution Options? | No Employer Contributions | |||
| Employer Profit Sharing Contribution Options? | No Employer Contributions | Flexible Options (e.g. Pro-rata, New Comparability) | More Flexible Options (e.g. New Comparability, Integrated, Pro-Rata) | Flexible Options (e.g. New Comparability) |
| Student Loan Retirement Match ? | No Employer Contributions | Available Add-on | ||
| Auto-enrollment Settings? | Required at Preset Savings Rate | Basic Options (Required at Rate Between 3% - 10%) | Flexible Options | Required at Preset Savings Rate |
| Hardship Withdrawals? | ||||
| Loans? |
The monthly employer base fee covers the core services required to operate and maintain your retirement plan on Vestwell’s platform, such as plan administration, recordkeeping, client service, plan support, and compliance and reporting services.
Core Fees
Employers generally pay a base fee for plan operations and a one-time setup fee. Employers can choose to pay certain participant fees, such as the monthly participant fee for recordkeeping services and asset-based investment management fees, if they desire. Under ERISA retirement law, the plan sponsor is always responsible for determining the source of payment for plan expenses.
Participant Recordkeeping Fees
Participant fees are charged based on participants with an active balance in their retirement account at the end of each month. Employers can choose to cover the participant fee if they wish, or, as is most common, pass it on to their employees.
Upgrading Your Plan
Our dedicated service team can help you upgrade or change your Vestwell plan. Your plan can meet your business needs today and scale with you as you grow, with easy amendment to a different plan offering with more features and flexibility. Plan amendments allow you to adjust plan features or even transition to a different Vestwell offering with more flexibility or capabilities. Some changes may require advance notice or must be timed with the start of a new plan year, while others can be made mid-year. Our team will guide you through the process and the next steps.
Additional Fees
In addition to fees for our standard services, we may charge fees for services that require additional resources or activities, such as special reports. We also offer optional add-on services to help employers optimize their plan, like a managed account feature and our plan document maintenance program, which have additional costs. These ad-hoc and elective fees vary based on your plan type and the services you choose, and are typically billed as they occur or alongside regular quarterly invoices. Your plan agreement and fee disclosures will include all details about which extra fees could apply to your specific plan.
Payment Information
Employers are typically invoiced quarterly for most fees. Payment can be made by ACH (bank transfer), credit card, or check, based on the options set up in your plan’s account. If your plan starts partway through a quarter, base fees are pro-rated so you only pay for the months the plan was active.