A generic silhouette of a person.

Money Talk: Where personal finance gets personal.

Managing your money can be complicated. That's why we're here to help. No matter how much or how little you know about money, our team of certified financial experts offer insights to help you move your financial life forward.

Carrie answers your financial questions.

Should gig workers use a roth ira, how does secure 2.0 help 70-somethings save more, can you get a retirement match from uncle sam.

schwab retirement plans for small business

Investments Down, Inflation Up: Help for Retirees

null

How Can I Save for Retirement Without a 401(k)?

schwab retirement plans for small business

Should I File for Social Security Now or Later?

schwab retirement plans for small business

Need a Retirement Plan for Your Small Business?

null

Should You Consider Delaying Retirement? The Answer Might Surprise You

null

Can You Fund an IRA with Alimony or Child Support?

null

I'm in the Military. Should I Invest in a TSP?

Grow your retirement plan business with an industry leader.

Success doesn't just happen..

Success doesn't just happen. It takes the right combination of experience, knowledge, plan solutions, and support. We've been helping advisors build their businesses for over 25 years and continue to do so with:

Custom Consulting

With Schwab, you are never on your own. Whether you have been advising clients on retirement plans for years or are new to the space, we're here—and ready to support you each step of the way. Like an extension of your own staff, our dedicated professionals are committed to helping you succeed and have the experience necessary to make a difference.

Practice Management

As a client, you can take advantage of our comprehensive resources, including investment and monitoring tools, professional education, industry designations, and retirement-focused events. Here are a few examples:

  • Premier client events, such as IMPACT ® and Schwab's National Retirement Summit
  • Tools like the fi360 Toolkit, 1 PensionPlanet, and the mutual fund search tool
  • Direct, discounted access to the Accredited Investment Fiduciary ® (AIF ® ) training necessary for the designation

See our Practice Management Page > 

Plan Solutions

We offer a full spectrum of plan solutions for a wide array of plan sizes and types. To help you meet a broad range of client needs, we support many types of employee benefit plans, including defined benefit, defined contribution, nonqualified plans, and more. We provide:

  • Independent retirement plan providers 2 paired with Schwab
  • Schwab's comprehensive 401(k) plan services
  • Small business retirement accounts
  • Schwab Retirement Advisor Portfolio

See our Plan Solutions Page > 

Retirement Expertise

Schwab has decades of experience and is an established leader in the retirement plan industry. Scroll through our historical timeline to see what makes us different.

Image of Charles Schwab from 1973

Charles Schwab & Co., Inc. founded.

schwab retirement plans for small business

Introduced the first custodial service for independent investment advisors.

Screenshot of newspaper headline

Established a supermarket of no-load, no-transaction-fee mutual funds.

Thumbnail image of announcement about PCRA

Launched Schwab Personal Choice Retirement Account ® (PCRA).

Newspaper clipping about the acquiring of The Hampton Company

Acquired The Hampton Company, founded and led by Walt Bettinger.

photo of Walt Bettinger

Walt Bettinger named Chief Executive Officer of The Charles Schwab Corporation.

screenshot of Charles Schwab logo that includes Advisor Services

Retirement Business Services becomes a part of Schwab Advisor Services ™ .

Charles Schwab logo

Schwab disrupts the industry and lowers the cost of investing.

We can help build the retirement plan approach that works best for you and your clients. If you'd like to learn more, contact us today.

Five retirement plan questions every advisor should ask.

How do you want to differentiate your retirement plan business? Consider the shape you want your involvement to take and then look at the many ways Schwab can help you fulfill your strategy. 

We can help you navigate the fiduciary process and earn your Accredited Investment Fiduciary ® (AIF ® ) designation from fi360. 5

Depending on the size and type of retirement solution you need, you can choose from our various offerings.

Your level of involvement will help you choose the best solution for both your and your clients' needs. Schwab offers a wide variety of solutions that can fit many business types.

Yes. We have experienced consultants who can help guide you with customized consulting and recordkeeping solutions. We help match you and your clients with the right plan solutions depending on your specific needs.

Experience matters.

For more than 40 years, Schwab has been a leader in the financial industry and an advocate for the individual investor. The management team includes leaders in the recordkeeping industry with proven experience in the retirement business. In ways that others can't, we draw on our deep institutional knowledge of employee benefit plans from across our entire enterprise.

  • 140 independent recordkeepers
  • 1,500+ retirement plan advisors
  • Over 25 years of experience in the retirement plan business
  • Over 140,000 retirement accounts 6
  • More than 14,500 investment options 7
  • Retirement plan assets in excess of $212 billion 6

people standing on stone steps in front of a building with columns

Talk to us about your retirement plan business needs.

Call:  877-702-6498  

Brokerage Products: Not FDIC-Insured • No Bank Guarantee • May Lose Value

Investors should carefully consider information contained in the prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling Schwab at 800-435-4000. Please read the prospectus carefully before investing.

Investment returns will fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV).

1. fi360 ® and fi360 Fiduciary Score are registered trademarks of fi360, Inc. fi360 and TRAU are not affiliated with Charles Schwab and its affiliates.

2. Independent recordkeepers are not owned by, affiliated with, or supervised by Schwab.

3. Trades in no-load mutual funds available through Schwab Mutual Fund OneSource ® (including Schwab Funds ® ), as well as certain other funds, are available without transaction fees when placed through Schwab.com or our automated phone channels. Schwab reserves the right to change the funds we make available without transaction fees and to reinstate fees on any funds. Funds are also subject to management fees and expenses.

Schwab's short-term redemption fee will be charged on redemption of funds (except certain Schwab Funds) bought through Schwab's Mutual Fund OneSource program (and certain other funds) with no transaction fee and held for 90 days or less. Schwab reserves the right to exempt certain funds from this fee, including Schwab Funds, which may charge a separate redemption fee, and funds that accommodate short-term trading.

Charles Schwab & Co., Inc. receives remuneration from fund companies participating in the Mutual Fund OneSource service for recordkeeping and shareholder services and other administrative services. Schwab also may receive remuneration from transaction-fee-fund companies for certain administrative services.

4. Schwab Advisor Services serves independent investment advisors and includes the custody, trading and support services of Charles Schwab & Co., Inc.

5. fi360 is unaffiliated with The Charles Schwab Corporation and its affiliates, including Charles Schwab & Co., Inc.

6. The number of brokerage accounts and assets reported are for retirement plans brought to Charles Schwab & Co., Inc. by independent recordkeepers and other parties. These numbers do not include the number of accounts held in Schwab Personal Choice Retirement Accounts ® or retirement plans held at Charles Schwab Bank. All data as of January 2017.

7. Funds made available through Charles Schwab Bank and/or Charles Schwab & Co., Inc.

  • Search Search Please fill out this field.
  • Schwab's Product Offerings

Investment Selection

Professional advice, account and investment minimums.

  • Commissions Fees
  • Schwab's Expense Ratios

The Reputation of Charles Schwab

The bottom line.

  • Personal Finance
  • Retirement Planning

Charles Schwab: How Good Are Its Retirement Services?

Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing.

schwab retirement plans for small business

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University.

schwab retirement plans for small business

Charles Schwab & Co., founded in 1973 and headquartered in San Francisco, has 32.5 million active brokerage accounts with more than $7.0 trillion in total client assets as of Aug. 31, 2021. If you’re thinking about placing your retirement assets with Schwab, here’s what you need to know.

Key Takeaways

  • Schwab was ranked #2 for investor satisfaction for DIY investors according to J.D. Power’s 2019 Self-Directed Investor Satisfaction Study.    
  • Schwab has various portfolio management services starting with Schwab Intelligent Portfolios, a fully automated advisory service.
  • Clients with $100,000 at Schwab can opt for the Managed Account Select, which includes access to professional asset managers.  

Schwab's Product Offerings

For retirement savings, Schwab offers traditional IRAs, Roth IRAs, and rollover IRAs. For small business owners, Schwab has individual 401(k)s , SEP IRAs , SIMPLE IRAs , business 401(k)s, and personal defined-benefit plans. Schwab will help you transfer your IRA from another provider or roll over your 401(k) from a former employer.

For retirement income, Schwab offers variable annuities, income annuities , and fixed annuities . Schwab’s Mutual Fund Portfolio Builder provides suggested mutual fund portfolios with different asset allocations for different levels of risk tolerance.

Schwab customers can invest in mutual funds , exchange-traded funds (ETFs), stocks , bonds, certificates of deposit (CDs), futures , and options . Schwab offers more than 50 mutual funds, six fundamental index ETFs, and 19 market-cap index ETFs of its own, plus access to thousands of no-load, no-transaction-fee mutual funds and around 200 commission-free ETFs from other companies.

Schwab Target Funds are mutual funds built on your projected retirement age and designed to take the guesswork out of constructing a portfolio. Schwab’s four MarketTrack Portfolios consist of index funds tailored to different levels of risk tolerance . Schwab’s monthly income funds offer monthly income plus long-term growth potential.

Schwab offers 24/7 customer service to all clients regardless of how much they’re investing, including help with the paperwork and asset transfer to open an account. If you have at least $25,000 in assets with Schwab, you’re eligible for a complimentary Personal Portfolio Review, which entails discussing your short- and long-term goals, evaluating how your current investments fit with those goals, and getting investment recommendations.

Schwab has eight levels of portfolio management services for investors who want ongoing, customized advice or portfolio management. The entry-level product is Schwab Intelligent Portfolios, a fully automated advisory service that builds, monitors, and rebalances an ETF portfolio for you with a $5,000 minimum investment.

Clients with at least $100,000 at Schwab can take advantage of Managed Account Select, which is a service where professional asset managers invest your portfolio. Fees for equity strategies start at 1% of assets under management. Fixed income strategies start at 0.65% while the balanced portfolios of both equities and fixed income charge 0.95% to start. The fees may decline with higher asset levels.

At the high end are Schwab’s Private Client service and Advisor Network Service, both for customers with at least $500,000 at the brokerage. Schwab’s personalized investment services are provided by registered investment advisors, meaning the advice you receive must be in your best interest and not that of the advisors.

Schwab index funds, mutual funds, target-date funds , monthly income funds, and MarketTrack portfolios have no investment minimums. SEP IRAs, SIMPLE IRAs, and individual 401(k)s also don’t have a minimum deposit requirement.  

If you want the higher level of service associated with personalized investment advice, account minimums range from $25,000 to $500,000.

Commissions and Fees

There are no fees to open or maintain a Schwab IRA and online stock trades are free except for broker-assisted and phone trades. Automated phone trades have a $5 service charge while broker-assisted trades have a $25 service charge and neither charge commissions.  

Bond trades are commission-free for new issues of U.S. Treasury securities. CDs, corporate bonds, municipal bonds, and government agency securities cost nothing per trade. Schwab’s OneSource ETFs are commission-free and have no fee. However, broker-assisted trades have a $25 service charge.

You can buy and sell Schwab’s OneSource mutual funds without paying any commission. Schwab charges a $49.95 short-term redemption fee on OneSource funds held for 90 days or less. Schwab Intelligent Portfolios have no advisory fees, commissions, or account service fees.

Schwab's Expense Ratios

Expense ratios for mutual funds and ETFs vary by fund. Schwab’s index funds have expense ratios ranging from 0.03% to 0.06%, and many of the expense ratios are below the industry average for that fund category.  

Schwab’s OneSource mutual funds are actively managed funds by Schwab and have no loads or transaction fees . However, they have expense ratios ranging from 0.73% for the Schwab Core Equity Fund to 1.92% for the Hedged Equity Fund, which invests in equities by taking long (buy) or short (sell) positions.    

Schwab’s Select List mutual funds, which are no-load, no-transaction-fee funds designed to generate income, have expense ratios ranging from 0.02% to 1.05%.   MarketTrack portfolios have expense ratios of 0.49% to 0.52%, while Monthly Income Funds have expense ratios of 0.21% to 0.50%.    

Schwab Target Funds have expense ratios of 0.08% to 0.74%, with the expense ratio increasing the further out your retirement date is.   Each of these funds is slightly less expensive than the category average. Personalized portfolio management and advice services have different levels of expenses.

J.D. Power’s 2019 Self-Directed Investor Satisfaction Study, which surveyed more than 5,400 investors who make investment decisions without help from a personal financial advisor, gave high ranks to Charles Schwab across the board.

The study ranked Schwab as the third-best self-directed broker for investor satisfaction by investors who seek investment guidance. J.D. Power’s seeking guidance segment included eight categories, which are ranked by importance below: 

  • Firm interaction 
  • Account information 
  • Investment performance 
  • Information resources 
  • Financial advisor 
  • Commissions and fees 
  • Product offerings 
  • Problem resolution 

However, Schwab ranked #1 for investor satisfaction for DIY investors or those who don't seek investment advice. The do-it-yourself segment had seven categories which are ranked below in order of importance: 

  • Interaction 

Your brokerage account securities (stocks, bonds, Treasury securities, CDs, mutual funds, money market mutual funds, and certain other investments) with Schwab are covered by the Securities Investor Protection Corporation (SIPC), a nonprofit organization that will cover the loss of up to $500,000 in securities, including up to $250,000 in cash if the firm goes bankrupt and your assets go missing.

Schwab also carries $600 million in additional coverage, with a per-customer limit of $150 million for securities and $1.15 million for cash. Any uninvested cash in your brokerage account at the end of the day gets automatically swept into Charles Schwab Bank, where it will earn interest and be FDIC insured.

In addition, because any mutual fund shares you own are held by a third-party custodian, neither Schwab nor its creditors can take ownership of them if the brokerage runs into financial problems. Schwab is a member of the Financial Industry Regulatory Authority (FINRA).

If your account loses money because the market declines or you make poor investment decisions, you’re out of luck. There’s no insurance for that , no matter which brokerage holds your money.

Charles Schwab has a solid reputation for retirement services, and investors who are just starting out will particularly appreciate the ability to get started saving for retirement with just $100 a month. With services for everyone from beginners to those with half a million or more in assets, most people planning for retirement will find what they need at this brokerage.

Charles Schwab. " Company History ."

Charles Schwab. " Who We Are ."

J.D. Power. " Website Reliability Issues, Lack of Human Support Pose Challenges for Self-Directed Wealth Management Firms ."

Charles Schwab. " Managed Account Select ."

Charles Schwab. " Personalized Portfolio Builder ."

Charles Schwab. " Schwab Market Cap Index ETFs Cost Comparisons ," Pages 1-2.

Charles Schwab. " Schwab Fundamental Index Funds and ETFs ," Page 2.

Charles Schwab. " Funds Managed by Schwab ."

Charles Schwab. " Target Funds ."

Charles Schwab. " Schwab MarketTrack Portfolios ."

Charles Schwab. " Charles Schwab Pricing Guide for Individual Investors ."

Charles Schwab. " Hedged Equity Fund ."

Charles Schwab. " Schwab Core Equity Fund ."

Charles Schwab. " Mutual Fund Quotes & Research Tools ."

Charles Schwab. " Investor Information ." Download "Fund Performance" under "Schwab MarketTrack."

Charles Schwab. " Schwab® Monthly Income Funds ."

Charles Schwab. " Investor Information ." Download "Fund Performance" under "Schwab Target Funds."

J.D. Power. " Growing Ranks of Millennials Create Challenges for Self-Directed Investment Firms, J.D. Power Finds ," Page 2.

Charles Schwab. " Asset Protection ."

Financial Industry Regulatory Authority. " Charles Schwab ."

schwab retirement plans for small business

  • Terms of Service
  • Editorial Policy
  • Privacy Policy
  • Your Privacy Choices

How to Pick the Best Small Business 401(k) Plan Provider

Look at the options available and research thoroughly before choosing a retirement plan for employees.

The Best Small Business 401(k) Plan Providers

A happy hispanic employee helping a young man in a zero waste store.

Getty Images

Some 401(k) plan providers cater to smaller companies, such as a startup or those with fewer than 50 employees, while others are set up for medium-sized or large businesses.

To attract and keep talented employees, it can be a smart move to add a 401(k) plan to your small business. As a result of the SECURE Act , which was passed in 2019, there are now more opportunities for small employers to offer retirement plans. The law allows small businesses to participate in pooled employer plans, making it easier and less costly for small employers to provide workers with a retirement plan. Here's how to select the right 401(k) plan provider for your small business.

Find the Best 401(k) Providers for Small Business

Since there are many providers to choose from, keep in mind that not all will offer the same services or prices. Some 401(k) plan providers cater to smaller companies, such as a startup or those with fewer than 50 employees, while others are set up for medium-sized or large businesses.

These providers specialize in 401(k) plans for small businesses:

  • American Funds. Small businesses of any size, from startups to those that have recently merged, can find traditional and Roth options through this provider.
  • Betterment. Through its online cost calculator, small business owners can enter their number of employees and plan preferences to gain a personalized estimate of 401(k) costs.
  • Charles Schwab. Charles Schwab provides 401(k) plans for companies of any size and creates customized plans to fit a business’ specific needs.
  • Employee Fiduciary. With 401(k) plan establishment fees that start at $500, Employee Fiduciary provides personalized service from setup through plan administration.
  • Fidelity Investments. Fidelity has small business 401(k) plans available for businesses with more than 20 employees and an app that employees can use to monitor their accounts.

How to Set Up a 401(k) for a Small Business

To offer a 401(k) plan for employees, the IRS lays out four steps to get started. These include:

  • Adopt a written plan. If you have assistance from a professional or a financial institution, this step will usually be provided for you.
  • Arrange a trust for the assets. A plan’s assets need to be in a trust to make sure they are used only for the participants and their beneficiaries.
  • Develop a recordkeeping system. If you work with a financial institution, you can generally expect to have help with keeping the necessary records.
  • Communicate information to employees. This includes sharing details about the plan with workers who are eligible to participate.

You will also have to decide on the type of 401(k) plan to offer employees. This could be a traditional 401(k) plan, a safe harbor 401(k) plan or an automatic enrollment plan. With a traditional 401(k) plan, the employer can elect to make contributions for all plan participants or offer a 401(k) match , but is not required to contribute. A safe harbor 401(k) plan requires the employer to make annual contributions on behalf of employees. An automatic enrollment 401(k) plan permits the company to automatically sign employees up for the plan and place salary deductions in certain investments.

Consider Whether to Match Employee 401(k) Contributions

Many employees rely on a 401(k) plan to help fund their retirement. “In our experience, a company’s contribution to the plan has become a key recruitment and retention tool of high-performing leaders,” says Eric Shisler, vice president and director of research and retirement plan services at Budros, Ruhlin & Roe in Columbus, Ohio. You might offer a match which consists of a percentage of an employee’s contribution, up to a specified percentage of the employee’s salary. Or you could provide a match up to a certain dollar amount.

Another type of employer contribution is 401(k) profit sharing, which allows a business to set aside a portion of its pre-tax profits in employee retirement accounts. You may choose to contribute a certain dollar amount, or a percentage of each employee’s salary. Before committing to contributions, you’ll want to think about short- and long-term profit projections. “Another key consideration for business owners when setting up a plan is if the company can sustain their contribution if cash flow fluctuates,” Shisler says.

Look at Small Business 401(k) Costs

Providing 401(k) accounts to employees will come with fees , and you should carefully sort through the fine print before selecting a 401(k) plan. A small business 401(k) plan might charge recordkeeping fees, investment fees and transaction fees.

Keep in mind that fees might change if the company hires more workers. “Look to understand how the fees quoted may change as the plan grows,” Shisler says. “Plans with the cheapest pricing upfront are not always the cheapest plans over time, especially with well-funded plans.”

Consider the Small Business 401(k) Investment Options

Look for a 401(k) plan that provides an assortment of investment options , rather than just a few ways to invest. “One of the major things that you want to look for in a plan for small companies is what kind of lineup of investment options will be available to the employees,” says Mike Scarborough, president and CEO of Oak Wealth Partners in Lexington Park, Maryland. “It should be broad-based in the sense that it should have large and small stocks, various types of bonds, some international exposure that is very broad-based, as well as emerging markets."

Carefully Select a Small Business 401(k) Provider

You’ll typically want to involve experts in the financial industry to help oversee the 401(k) plan. "Many individuals in the financial services industry can sell you a plan, but usually there are certain advisors who specialize in working with 401(k)s," says Art Haws, CEO and managing partner and HawsGoodwin Wealth in Franklin, Tennessee. "They can help you navigate the many issues and decisions made when starting and maintaining a plan."

A trustee will manage the 401(k) plan assets, and carries the responsibility of making decisions according to the plan's terms. A 401(k) custodian does not make management decisions, but holds plan assets.

When researching options, ask about the third party administration setup. "Some plans bundle the TPA services like plan design and documents, testing and tax preparation, while others require you to work with an outside TPA," Haws says. "An experienced financial advisor can help explain the benefits of either, and recommend the best solution for your specific situation." Some financial professionals will help you communicate about the retirement plan to employees. Also ask about payroll integration, as a 401(k) provider with payroll-related services might make your 401(k) plan easier to manage.

How to Max Out Your 401(k) in 2021

Couple sits at kitchen table going over finances together.

Tags: 401(k)s , retirement , money , small business , entrepreneurship

The Best Financial Tools for You

Credit Cards

schwab retirement plans for small business

Find the Best Loan for You

schwab retirement plans for small business

Best Bank Accounts of 2024

schwab retirement plans for small business

Comparative assessments and other editorial opinions are those of U.S. News and have not been previously reviewed, approved or endorsed by any other entities, such as banks, credit card issuers or travel companies. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.

schwab retirement plans for small business

Subscribe to our daily newsletter to get investing advice, rankings and stock market news.

See a newsletter example .

You May Also Like

Retirement accounts you should consider.

Rachel Hartman and Emily Brandon Feb. 23, 2024

schwab retirement plans for small business

Tax-Friendly States for Retirees

Rachel Hartman Feb. 22, 2024

schwab retirement plans for small business

When to Pay Taxes on Social Security

Rachel Hartman Feb. 21, 2024

schwab retirement plans for small business

What is Good Monthly Retirement Income?

Maryalene LaPonsie Feb. 21, 2024

schwab retirement plans for small business

The 100-Minus-Your-Age Rule for Retirees

Brian O'Connell Feb. 20, 2024

schwab retirement plans for small business

7 Tips From FIRE Retirees

Rachel Hartman Feb. 16, 2024

schwab retirement plans for small business

Older Citizens are More Likely to Vote

Kate Stalter Feb. 15, 2024

schwab retirement plans for small business

The Cheapest Places to Retire Abroad

Rachel Hartman Feb. 13, 2024

schwab retirement plans for small business

The Max Social Security Benefit in 2024

Jessica Walrack Feb. 12, 2024

schwab retirement plans for small business

Most Enjoyable Jobs for Older Workers

Maryalene LaPonsie Feb. 12, 2024

schwab retirement plans for small business

How to Prep for Retirement in 2024

Rachel Hartman Feb. 9, 2024

schwab retirement plans for small business

How Much a 401(k) Early Withdrawal Costs

Rachel Hartman Feb. 7, 2024

schwab retirement plans for small business

What to Prep Now for 2025 Retirement

Kate Stalter Feb. 6, 2024

schwab retirement plans for small business

Invest for Retirement With Little Money

Brian O'Connell Feb. 6, 2024

schwab retirement plans for small business

10 Common Scams That Target Seniors

Rachel Hartman Feb. 2, 2024

schwab retirement plans for small business

Save for Retirement in a Roth IRA

Emily Brandon and Rachel Hartman Jan. 31, 2024

schwab retirement plans for small business

Turn $1 Million Into Passive Income

Rachel Hartman Jan. 30, 2024

schwab retirement plans for small business

New RMD Rules for 2024

Rachel Hartman Jan. 26, 2024

schwab retirement plans for small business

How to Open a Roth IRA

Brian O'Connell Jan. 25, 2024

schwab retirement plans for small business

Reduce Your Tax Bill With a Roth IRA

Kate Stalter Jan. 24, 2024

schwab retirement plans for small business

  • Auto Insurance Best Car Insurance Cheapest Car Insurance Compare Car Insurance Quotes Best Car Insurance For Young Drivers Best Auto & Home Bundles Cheapest Cars To Insure
  • Home Insurance Best Home Insurance Best Renters Insurance Cheapest Homeowners Insurance Types Of Homeowners Insurance
  • Life Insurance Best Life Insurance Best Term Life Insurance Best Senior Life Insurance Best Whole Life Insurance Best No Exam Life Insurance
  • Pet Insurance Best Pet Insurance Cheap Pet Insurance Pet Insurance Costs Compare Pet Insurance Quotes
  • Travel Insurance Best Travel Insurance Cancel For Any Reason Travel Insurance Best Cruise Travel Insurance Best Senior Travel Insurance
  • Health Insurance Best Health Insurance Plans Best Affordable Health Insurance Best Dental Insurance Best Vision Insurance Best Disability Insurance
  • Credit Cards Best Credit Cards 2024 Best Balance Transfer Credit Cards Best Rewards Credit Cards Best Cash Back Credit Cards Best Travel Rewards Credit Cards Best 0% APR Credit Cards Best Business Credit Cards Best Credit Cards for Startups Best Credit Cards For Bad Credit Best Cards for Students without Credit
  • Credit Card Reviews Chase Sapphire Preferred Wells Fargo Active Cash® Chase Sapphire Reserve Citi Double Cash Citi Diamond Preferred Chase Ink Business Unlimited American Express Blue Business Plus
  • Credit Card by Issuer Best Chase Credit Cards Best American Express Credit Cards Best Bank of America Credit Cards Best Visa Credit Cards
  • Credit Score Best Credit Monitoring Services Best Identity Theft Protection
  • CDs Best CD Rates Best No Penalty CDs Best Jumbo CD Rates Best 3 Month CD Rates Best 6 Month CD Rates Best 9 Month CD Rates Best 1 Year CD Rates Best 2 Year CD Rates Best 5 Year CD Rates
  • Checking Best High-Yield Checking Accounts Best Checking Accounts Best No Fee Checking Accounts Best Teen Checking Accounts Best Student Checking Accounts Best Joint Checking Accounts Best Business Checking Accounts Best Free Checking Accounts
  • Savings Best High-Yield Savings Accounts Best Free No-Fee Savings Accounts Simple Savings Calculator Monthly Budget Calculator: 50/30/20
  • Mortgages Best Mortgage Lenders Best Online Mortgage Lenders Current Mortgage Rates Best HELOC Rates Best Mortgage Refinance Lenders Best Home Equity Loan Lenders Best VA Mortgage Lenders Mortgage Refinance Rates Mortgage Interest Rate Forecast
  • Personal Loans Best Personal Loans Best Debt Consolidation Loans Best Emergency Loans Best Home Improvement Loans Best Bad Credit Loans Best Installment Loans For Bad Credit Best Personal Loans For Fair Credit Best Low Interest Personal Loans
  • Student Loans Best Student Loans Best Student Loan Refinance Best Student Loans for Bad or No Credit Best Low-Interest Student Loans
  • Business Loans Best Business Loans Best Business Lines of Credit Apply For A Business Loan Business Loan vs. Business Line Of Credit What Is An SBA Loan?
  • Investing Best Online Brokers Top 10 Cryptocurrencies Best Low-Risk Investments Best Cheap Stocks To Buy Now Best S&P 500 Index Funds Best Stocks For Beginners How To Make Money From Investing In Stocks
  • Retirement Best Gold IRAs Best Investments for a Roth IRA Best Bitcoin IRAs Protecting Your 401(k) In a Recession Types of IRAs Roth vs Traditional IRA How To Open A Roth IRA
  • Business Formation Best LLC Services Best Registered Agent Services How To Start An LLC How To Start A Business
  • Web Design & Hosting Best Website Builders Best E-commerce Platforms Best Domain Registrar
  • HR & Payroll Best Payroll Software Best HR Software Best HRIS Systems Best Recruiting Software Best Applicant Tracking Systems
  • Payment Processing Best Credit Card Processing Companies Best POS Systems Best Merchant Services Best Credit Card Readers How To Accept Credit Cards
  • More Business Solutions Best VPNs Best VoIP Services Best Project Management Software Best CRM Software Best Accounting Software
  • Manage Topics
  • Investigations
  • Visual Explainers
  • Newsletters
  • Abortion news
  • Coronavirus
  • Climate Change
  • Vertical Storytelling
  • Corrections Policy
  • College Football
  • High School Sports
  • H.S. Sports Awards
  • Sports Betting
  • College Basketball (M)
  • College Basketball (W)
  • For The Win
  • Sports Pulse
  • Weekly Pulse
  • Buy Tickets
  • Sports Seriously
  • Sports+ States
  • Celebrities
  • Entertainment This!
  • Celebrity Deaths
  • American Influencer Awards
  • Women of the Century
  • Problem Solved
  • Personal Finance
  • Small Business
  • Consumer Recalls
  • Video Games
  • Product Reviews
  • Destinations
  • Airline News
  • Experience America
  • Today's Debate
  • Suzette Hackney
  • Policing the USA
  • Meet the Editorial Board
  • How to Submit Content
  • Hidden Common Ground
  • Race in America

Personal Loans

Best Personal Loans

Auto Insurance

Best Auto Insurance

Best High-Yields Savings Accounts

CREDIT CARDS

Best Credit Cards

Advertiser Disclosure

Blueprint is an independent, advertising-supported comparison service focused on helping readers make smarter decisions. We receive compensation from the companies that advertise on Blueprint which may impact how and where products appear on this site. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Blueprint. Blueprint does not include all companies, products or offers that may be available to you within the market. A list of selected affiliate partners is available here .

The best retirement plans of 2024

Maryalene LaPonsie

Hannah Alberstadt

Hannah Alberstadt

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Updated 6:02 p.m. UTC Feb. 13, 2024

  • path]:fill-[#49619B]" alt="Facebook" width="18" height="18" viewBox="0 0 18 18" fill="none" xmlns="http://www.w3.org/2000/svg">
  • path]:fill-[#202020]" alt="Email" width="19" height="14" viewBox="0 0 19 14" fill="none" xmlns="http://www.w3.org/2000/svg">

Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy .

Featured Image

SurfUpVector, iStock/Getty Images Plus

American workers have no shortage of options for selecting the best retirement plan.

  • Most people are eligible for more than one retirement plan.
  • 2024 retirement plans generally offer tax advantages. 

Our Partner

Datalign advisory, get started.

Datalign Advisory

Retirement is the end goal for most workers, but you can’t quit your job unless you have a source of income. While Social Security will pay for some expenses, the government says these benefits will cover only about 40% of your pre-retirement income.

In the past, many companies offered pensions that provided lifetime income to loyal employees. Now, pensions have all but disappeared, and most workers need to rely on their savings to fill gaps in their budgets.

Fortunately, several retirement plans are available, many of which offer attractive tax incentives or generous employer matches.

Best retirement plans of 2024

“You’re talking about an embarrassment of riches,” says Andrew Meadows, senior vice president of HR, brand and culture for Ubiquity Retirement + Savings, a 401(k) provider.

Plans exist for employees, self-employed individuals and small-business owners. Options within each category allow people to receive immediate tax deductions or set aside money for tax-free withdrawals in the future. The best retirement plans also offer various investment options with low fees. 

Employer-sponsored retirement plans

Employer-sponsored retirement plans are some of the best-known options, and if you are an employee — meaning you receive a W-2 at tax time — you likely have access to one of them.

These accounts can be a convenient way to save for retirement since payroll deductions fund them. Plus, many employers match a portion of employee contributions.

“You want to be sure you put enough in to qualify for whatever your employer is matching,” says Stuart Chamberlin, founder and owner of advisory firm Chamberlin Financial in Boca Raton, Florida.

Traditional 401(k)

Traditional 401(k)s are the most common retirement plans private companies offer employees.

Employee contributions to a traditional 401(k) are tax-deductible. You can access the money without penalty once you reach age 59½, and withdrawals are taxed as regular income. You must start taking required minimum distributions at age 73, meaning you cannot avoid taxes forever.

You can contribute up to $23,000 to a 401(k) plan in 2024. Savers age 50 or older can contribute an additional $7,500.

Roth 401(k)

A Roth 401(k) works like a traditional 401(k), except the tax benefits are different.

Because Roth accounts are funded with after-tax dollars, employee contributions are not tax-deductible. The benefit is that the money grows tax-free and can be withdrawn tax-free in retirement. If you make a withdrawal before age 59½ and before you have held the account for five years, some of it may be subject to income tax and a penalty.

Roth 401(k) contribution limits are the same as traditional 401(k) contribution limits.

Our Partners

schwab retirement plans for small business

Via Wealthramp’s website

Find your match

Connect with fee-only advisors who fit your priorities

Build your wealth

Review your vetted advisor matches and set up a free consultation

J.P. Morgan Personal Advisors

schwab retirement plans for small business

Via J.P. Morgan’s website

Create a personalized financial plan

Get matched to expert-built portfolios, and receive ongoing advice and annual check-ins to ensure your plan is on track.

INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

A 403(b) , also known as a tax-sheltered annuity, works like a 401(k) and may be offered in traditional and Roth versions. Typically, 403(b) plans are available to employees of public schools and certain tax-exempt organizations.

One unique provision of 403(b) plans is that workers with at least 15 years of service can make additional catch-up contributions, which may be worth up to $3,000. 

457(b) 

Employees of state and local governments and certain tax-exempt nongovernmental entities may be able to contribute to 457(b) plans. These accounts work like 401(k)s and can be found in traditional and Roth varieties.

Like 403(b)s, 457(b)s have a unique catch-up feature. Workers may be able to contribute up to twice the annual employee limit during the last three years before their normal retirement age. 

Thrift savings plan

The thrift savings plan is a retirement plan for federal government employees and uniformed members of the armed forces. It is comparable to a 401(k) account, with similar provisions and contribution limits. 

Individual retirement plans

Individual retirement arrangements, or IRAs, “have the lowest barrier to entry,” Meadows says.

You generally can open an IRA as long as you have earned income, even if you have a 401(k) plan or another workplace retirement account. But note that income limits may apply to deducting traditional IRA contributions and contributing to Roth IRAs.

Traditional IRA

Like a traditional 401(k), a traditional IRA offers an immediate tax deduction on contributions. Withdrawals after age 59½ are subject to regular income tax. Early withdrawals are subject to income tax and a 10% penalty. Required minimum distributions must begin at age 73.

You can contribute up to $7,000 to IRAs in 2024. Savers age 50 or older may make an additional $1,000 in catch-up contributions.

Your contributions may not be tax-deductible if you or your spouse is covered by a retirement plan at work and you exceed certain income limits. For 2024, the ability to deduct contributions begins to phase out at modified adjusted gross incomes above $77,000 for single filers and $123,000 for married couples filing jointly.

Roth IRAs don’t offer tax deductions on contributions, but withdrawals in retirement are generally tax-free. Further, because you’ve already paid taxes on your Roth IRA contributions, you can withdraw them anytime tax- and penalty-free. Early withdrawals of your earnings may be subject to income tax and a 10% penalty. 

Roth IRAs share the same contribution limits as traditional IRAs, but high earners are excluded from funding these plans. For 2024, the ability to contribute to a Roth IRA begins to phase out at MAGIs of $146,000 for single filers and $230,000 for married couples filing jointly. At incomes of $161,000 and $240,000, respectively, the opportunity to contribute to a Roth IRA is eliminated.  

Spousal IRA

A spousal IRA refers to the ability of a working spouse to open an IRA on behalf of a nonworking spouse. In this way, stay-at-home parents or other spouses without earned income can have their own IRAs with which to save for retirement.

Spousal IRAs can be traditional or Roth accounts and are subject to the same contribution and income limits as other IRAs. To open a spousal IRA, a couple must file their tax return jointly.

Rollover IRA 

A rollover IRA is a way to move money from one retirement account to another. For example, if you leave a job, you can roll over money from your 401(k) to an IRA rather than leave it in place.

You can opt for a direct rollover or an indirect rollover. With a direct rollover, the funds are transferred from the 401(k) administrator to the IRA administrator. With an indirect rollover, you receive a distribution from the 401(k) and then deposit the funds into the IRA. If you fail to deposit the full amount into the IRA within 60 days, it may be subject to both income taxes and a 10% penalty.

There is no limit on how much you can roll over. Note that rolling over into an account with a different tax treatment — from a traditional to a Roth, for instance — counts as a conversion and has tax implications.

Retirement plans for small-business owners and the self-employed 

One drawback of IRAs compared to employer-sponsored retirement plans is the low annual contribution limit. But if you are self-employed or a small-business owner, you have other options with higher limits. Becoming eligible for these plans may be easier than you think.

“If you have a side hustle and self-employment income, you absolutely have the ability to start your own retirement plan,” says Nathan Boxx, director of retirement plan services for financial advisory firm Fort Pitt Capital Group in Pittsburgh.

Whether you work for yourself or have a team of employees, the following accounts could be good options. 

Any self-employed individual or employer can open a SEP IRA , and workers can contribute the lesser of 25% of their annual compensation or $69,000 per year. That puts a SEP IRA in line with a 401(k) plan in terms of contributions. But you can’t make catch-up contributions to a SEP account.

There is no Roth SEP IRA option, so your contributions will be tax-deductible. Withdrawals in retirement will be subject to regular income tax, and you’ll also need to start taking RMDs at age 73.

If you like the idea of having some tax-free money available in retirement, there is no reason you can’t also open a Roth IRA. The IRS allows self-employed workers and business owners to contribute to both.

The SIMPLE IRA is what Boxx calls the “quick and dirty” option for small-business retirement plans. It is available to businesses with fewer than 100 workers and has few filing requirements.

“The trade-off is lack of flexibility,” Boxx says. You may not have the same plan or investment options that other accounts offer. SIMPLE IRAs also have lower contribution limits than 401(k)s.

In 2024, a worker can contribute up to $16,000 to a SIMPLE IRA. Savers age 50 or older can make $3,500 in catch-up contributions. All contributions are tax-deductible, and withdrawals in retirement are taxed as regular income. RMDs must be taken starting at age 73. 

Payroll deduction IRA

Payroll deduction IRAs can be traditional or Roth and have the same contribution limits as those accounts. The main difference is they are funded through payroll deductions.

These accounts can be an attractive option for small-business owners who would like to help their workers save for retirement but don’t want the expense that comes with creating a 401(k) plan. 

Solo 401(k) 

Also known as one-participant 401(k)s, solo 401(k)s allow business owners with no employees or self-employed individuals to open an employer-sponsored plan for themselves and their spouses.

The reporting rules make these accounts more complex than some of the other options. On the other hand, they have significantly higher contribution limits.

As an employee, you can make elective deferrals of up to $23,000 in 2024. Savers age 50 or older can contribute an additional $7,500. In addition, as an employer, you can make a profit-sharing contribution of up to 25% of your compensation from the business. Combined, the maximum solo 401(k) contribution is $69,000 in 2024. 

Solo 401(k)s may be opened as traditional or Roth accounts.

Why is having a retirement plan important?

Most people understand the value of having money set aside for retirement, but it may not be obvious why you should use a retirement plan. After all, you could invest the money in a regular brokerage account , put it in certificates of deposit or leave it in your savings account.

A retirement plan makes more sense for several reasons:

  • Retirement plans offer tax incentives — either deductions for contributions or tax-free withdrawals in retirement.
  • Your employer may match a portion of your contributions. That’s essentially free money to boost your savings.
  • Retirement plans are subject to certain standards and protections by law.

“Retirement money is sheltered from creditors up to a certain threshold,” Boxx says. That is one example of the type of protection your money gets when deposited in a retirement plan.

How to start investing in your retirement

The earlier you begin saving, the more likely you are to be financially secure in retirement. It isn’t hard to open a retirement account either.

If you work somewhere that offers employer-sponsored retirement accounts, contact your human resources office to start making contributions. Most plans let you choose from several investment options, and many now have target-date funds, which make it simple to invest based on your expected retirement date.

IRAs and other plans can be opened online or in person at many banks and brokerage firms. For instance, Ubiquity Retirement + Savings offers solo 401(k) plans, while Chase, Charles Schwab and Fidelity all have IRAs.   

How to choose the best retirement plan for you

If you have an employer-sponsored plan with a match, start there. You want to contribute enough to that plan to get the full match. After that, you can consider other options.

Here are some questions to ask yourself:

  • Do I do any contract work that would make me eligible for a small-business retirement plan?
  • How much do I expect to be able to contribute each year?
  • Do I want a tax deduction now, or would I rather have tax-free money in retirement?

Before you jump into any account, be sure to read the fine print. “What fees are you paying?” Meadows asks. Those fees include the expense ratios for specific investments and the costs to administer the plan.

An accountant or financial advisor can help you weigh your options and select the best retirement plan for your needs. 

Frequently asked questions (FAQs)

That depends on your unique circumstances. While Fidelity Investments suggests you save 10 times your income by age 67, you may need more or less to retire comfortably.

When determining how much money you’ll need, consider the following:

  • Whether you will have debt payments in retirement.
  • The cost of living in your area.
  • Your expected lifestyle.
  • How you will fill your time.
  • Your expected lifespan.

Each account has its pros and cons. IRAs typically offer more investment options, but they may come with more fees. With a 401(k) account, you can contribute significantly more, and your plan administrator is a fiduciary, meaning they are required to work in your best interest. Talk to a trusted financial advisor to decide which is right for you. 

Yes. “The IRS always gets theirs at the end,” Chamberlin says.

The difference is when you pay those taxes. Roth accounts are taxed upfront since you fund them with after-tax dollars. With a traditional account, the money isn’t taxed until you make withdrawals in retirement. If you die with money in a traditional account, your heirs will pay the taxes on the remaining amount.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Maryalene LaPonsie

Maryalene LaPonsie has been writing professionally for nearly 25 years and specializes in personal finance, retirement, investing and education topics. In addition to USA TODAY Blueprint, her work has been featured on Forbes Advisor, U.S. News & World Report, Money Talks News, MSN and elsewhere on the web.

Hannah Alberstadt is the deputy editor of investing and retirement at USA TODAY Blueprint. She was most recently a copy editor at The Hill and previously worked in the online legal and financial content spaces, including at Student Loan Hero and LendingTree. She holds bachelor's and master's degrees in English literature, as well as a J.D. Hannah devotes most of her free time to cat rescue.

401(k) loans: What they are and how they work

401(k) loans: What they are and how they work

Retirement Maryalene LaPonsie

How to withdraw money from your 401(k) early

How to withdraw money from your 401(k) early

What is an HSA?

What is an HSA?

Retirement Erin Gobler

Best investments for a Roth IRA

Best investments for a Roth IRA

Using your HSA in retirement

Using your HSA in retirement

Health savings account (HSA) rules

Health savings account (HSA) rules

How to open a Roth IRA

How to open a Roth IRA

Retirement Ashlyn Brooks

What is a backdoor Roth IRA?

What is a backdoor Roth IRA?

Retirement Coryanne Hicks

What’s the 401(k) early withdrawal penalty?

What’s the 401(k) early withdrawal penalty?

Roth IRA vs. traditional IRA

Roth IRA vs. traditional IRA

What is a 401(k)?

What is a 401(k)?

401(k) vs. 403(b): Which is best for your retirement?

401(k) vs. 403(b): Which is best for your retirement?

What is a mega backdoor Roth?

What is a mega backdoor Roth?

What’s a Roth 401(k)?

What’s a Roth 401(k)?

What are the different types of IRAs?

What are the different types of IRAs?

2023 Year in Review: Schwab Retirement Plan Services

Transcript of the video:

Schwab RPSC Year in Review for Clients

[Intro music: Inspirational, motivational]

Phew, 2023 was a big year. Here's what came out of the journey. Every year, Schwab Retirement Plan Services looks at what you and your participants want to accomplish. Then we map out a plan for how we can help you reach those goals. In 2023, our plan focused on providing: Innovative solutions. Added support. Invaluable insights.

Here's what's new. The digital experience is now a better experience. More curated financial wellness content. Account Overview page focused on in-demand features. Plan services are expanding, with your top talent in mind. We now collaborate with Conduent (defined benefit plans) and Newport (nonqualified deferred compensation plans). You'll be able to access industry-leading features with the same great service. Your plan health reporting dashboard got a healthy refresh. Easier access to plan data. Enhanced reporting. An improved overall user experience.

A new student loan resource was added. An easier way to manage student loans: Vault Advisor.

The Participant Webcast Series helped build confidence. 91% of participants felt they were better prepared to take the next step in their financial journey as a result of the information presented in the webcasts.

Important industry updates. We stayed connected to important developments coming out of Washington, D.C. The latest on SECURE 2.0. At the end of 2022, Congress passed the SECURE 2.0 Act of 2022 (SECURE 2.0) to make it easier for employers to administer their retirement plans and for individuals to save more for retirement.

Key provisions that took effect in 2023:

The required minimum distribution (RMD) age increased from 72 to 73 and will increase to 75 starting in 2033. Employer matching or profit-sharing contributions can be treated as Roth contributions. (optional) Employees can self-certify hardship distributions. (optional) The permanent rules for disaster withdrawals have now been standardized. (optional) Terminal illness distributions are exempt from the 10% early distribution penalty.

Participant insights. Inflation and market volatility continued to weigh heavily on workers' minds in 2023. Key findings from our annual nationwide survey of 401(k) plan participants:

$1.8 million is the average amount people think they need for retirement. 86% of Gen Z 401(k) savers would be willing to give up a portion of their next raise in exchange for better benefits. 401(k)s have become a nonnegotiable benefit for workers, with nearly nine in ten saying it is a "must have" when looking for a new job.

Charitable giving solutions. Schwab Charitable™ donors showed up for charities in record-breaking amounts in 2023. $6.1 billion granted to charity. 127,000 charities supported. 1 million grants recommended. Source: Schwab Charitable. All figures reflect granting activity from January 1, 2023, through December 31, 2023. For more information, visit https://www.schwabcharitable.org/resource/fiscal-year-2023-giving-report.

Some extra achievements we're proud of. Throughout 2023, Schwab Retirement Plan Services continued being recognized with third-party awards: Received the most Best in Class awards of any qualifying plan provider rated for the sixth year in a row. Rated in the 2022 PLANSPONSOR® Defined Contribution (DC) Survey

PLANSPONSOR award was given on March 21, 2023. The criteria, evaluation, and ranking were determined by PLANSPONSOR. See plansponsor.com/research/2022-best-class-dc-providers/?pagesec=5#Methodology for more information. A licensing fee has been paid to PLANSPONSOR for the use of the award logo, however Schwab did not pay any fees to be considered for the award.

The journey continues in 2024. What's ahead? We can't wait to show you. 2024 has exciting things planned: We'll continue enhancing the participant experience. Further upgrades will be made to the plan sponsor website, reports, and case management. We'll keep you aware of SECURE 2.0 implementation news and insights. Nonqualified and defined benefit plan sponsors will be able to take advantage of enhanced services. Our teams will continue research efforts and share the insights they've gained. Questions? Contact your Relationship Manager. Hello 2024…let's go!

Disclosures. Vault Advisor is provided by Student Loan Benefits, Inc. (Vault) and is not affiliated with Schwab Retirement Plan Services, Inc. and its affiliates.

Newport and Conduent are not affiliated with Schwab Retirement Plan Services, Inc. or its affiliates.

Securities are offered through Ascensus Broker Dealer Services, LLC, member FINRA/SIPC. Securities in California are offered under the d/b/a Ascensus Corporate Insurance Solutions.

Other insurance products may be offered by Newport Group, Inc., an Ascensus Company. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser and subsidiary of Newport Group, Inc., an Ascensus Company. For more information about Newport Group Consulting and its services, please visit newportgroup.com or refer to Form ADV Part 2, which is available by contacting 407-333-2905, or visiting newportgroup.com or adviserinfo.sec.gov. Conduent and Conduent Agile Star are trademarks of Conduent, Inc. and/or its subsidiaries in the United States and/or other countries.   Schwab Retirement Plan Services internal data from January 1, 2023, to December 31, 2023, based on participant survey included in all live events. Respondents selected "I'm better prepared to take the next step in my financial journey as a result of the information presented in this webcast."  2023 401(k) Participant Study, Charles Schwab & Co., Inc. and Logica Research, August 2023. This online survey of U.S. 401(k) participants was conducted by Logica Research. A total of 1,000 plan participants completed the survey. Survey respondents were actively employed by companies with at least 25 employees, were 401(k) plan participants, and were 21–70 years old. All data is self-reported by study participants and is not verified or validated. Respondents participated in the study between April 19 and May 2, 2023. Detailed results can be found here: https://content.schwab.com/web/retail/public/about-schwab/schwab_2023_401k_participant_survey_findings.pdf  55 in the PLANSPONSOR® 2022 Defined Contribution (DC) Survey, 48 in the PLANSPONSOR® 2021 Defined Contribution (DC) Survey, 102 in the PLANSPONSOR® 2020 Defined Contribution (DC) Survey, 88 in the PLANSPONSOR® 2019 Defined Contribution (DC) Survey, 74 in the PLANSPONSOR® 2018 Defined Contribution (DC) Survey, and 62 in the PLANSPONSOR® 2017 Defined Contribution (DC) Survey. A total of 15 providers qualified for inclusion in the 2022 results and providers were rated by sponsors in four areas of service. A total of 15 providers qualified for inclusion in the 2021 results, down from 17 providers listed in 2020 and 23 providers listed in 2017, 2018, and 2019. More information regarding the methodology and survey results can be found at: https://www.plansponsor.com/research/2022-best-class-dc-providers/?pagesec=5#Methodology

"We," "us," and "our" refer to Schwab Retirement Plan Services, Inc. throughout this document, unless otherwise noted. "Schwab" refers to The Charles Schwab Corporation, unless otherwise noted. Outcomes are not guaranteed.  Schwab Charitable™ is the name used for the combined programs and services of Schwab Charitable Fund™, an independent nonprofit organization. Schwab Charitable Fund has entered into service agreements with certain affiliates of The Charles Schwab Corporation.  The material contained herein is proprietary to Schwab Retirement Plan Services, Inc. (SRPS) and is for informational purposes only. None of the information constitutes a recommendation by SRPS. The information is not intended to provide tax, legal, or investment advice. SRPS does not guarantee the suitability or potential value of any particular investment or information source. Certain information presented herein may be subject to change. Neither the presentation nor any information or material contained in it may be copied, assigned, transferred, disclosed, or utilized without the express written approval of SRPS.  The Charles Schwab Corporation provides services to retirement and other benefit plans and participants through its separate but affiliated companies and subsidiaries: Charles Schwab Trust Bank; Charles Schwab Bank, SSB; Charles Schwab & Co., Inc.; and Schwab Retirement Plan Services, Inc. Trust, custody, and deposit products and services are available through Charles Schwab Trust Bank and Charles Schwab Bank, SSB, Members of FDIC. Brokerage products and services are offered by Charles Schwab & Co., Inc. (Member SIPC). Schwab Retirement Plan Services, Inc. created this communication for retirement plan sponsors and retirement plan consultants, advisors, and other retirement plan service providers and fiduciaries only. Schwab Retirement Plan Services, Inc. is not a fiduciary to retirement plans or participants and only provides recordkeeping and related services.  © 2024 Schwab Retirement Plan Services, Inc. All rights reserved.   

Understand how to choose which retirement plan fits your business, and money management tips for side gigs and freelance work.

  • Find a Branch
  • Schwab Brokerage 800-435-4000
  • Schwab Password Reset 800-780-2755
  • Schwab Bank 888-403-9000
  • Schwab Intelligent Portfolios® 855-694-5208
  • Schwab Trading Services 888-245-6864
  • Workplace Retirement Plans 800-724-7526

... More ways to contact Schwab

  Chat

  • Schwab International
  • Schwab Advisor Services™
  • Schwab Intelligent Portfolios®
  • Schwab Alliance
  • Schwab Charitable™
  • Retirement Plan Center
  • Equity Awards Center®
  • Learning Quest® 529
  • Mortgage & HELOC
  • Charles Schwab Investment Management (CSIM)
  • Portfolio Management Services
  • Open an Account

IMAGES

  1. Retirement Solutions Hub

    schwab retirement plans for small business

  2. Small Business Retirement Plans, What To Know(2023)

    schwab retirement plans for small business

  3. A Quick Guide to Retirement Plans for Small Business Owners

    schwab retirement plans for small business

  4. 7 Popular Retirement Plans for Small Business Owners

    schwab retirement plans for small business

  5. Retirement Plans for Small Business: Comparison Chart

    schwab retirement plans for small business

  6. Charles Schwab Report Written Retirement Plan

    schwab retirement plans for small business

COMMENTS

  1. Small Business Solutions

    Schwab offers a number of retirement plans for small businesses, whether your company employs one or many. Use this information and our tools here to learn more and begin narrowing your options. Explore our tools: Small Business Retirement Contribution Calculator Explore our Lifetime Income Illustration Tool

  2. Small Business Solutions

    Open an Account Call 800-435-4000 Find a branch. Live Chat Looking for a retirement plan or business investing account? Schwab offers a range of small business solutions to help you manage your finances.

  3. Schwab MoneyWise

    An Individual 401 (k) is an easy-to-administer, low-cost retirement plan designed for self-employed individuals and owner-only businesses who want to make substantial contributions toward their retirement. You direct how the contributions are invested.

  4. Small Business

    Small Business | Charles Schwab Small Business Understand how to choose which retirement plan fits your business, and money management tips for side gigs and freelance work.

  5. Need a Retirement Plan for Your Small Business?

    —A Reader Dear Reader, This is an excellent question for every small business owner—whether firmly established or just starting out. That's because, although contributing to an IRA is definitely a good idea, small business owners have several other options that can significantly increase the amount they can save in a tax-effective way.

  6. Small Business

    Understand how to choose which retirement plan fits your business, and money management tips for side gigs and freelance work. Short summary Understand how to choose which retirement plan fits your business, and money management tips for side gigs and freelance work.

  7. Small Business Solutions

    Charles Schwab & Co., Inc., and Convergent Retirement Plan Solutions, LLC are separate and unaffiliated firms. Neither is responsible for the services or policies of the other. Looking for a retirement plan or business investing account? Schwab offers a range of small business solutions to help you manage your finances.

  8. Need a Retirement Plan for Your Small Business?

    Need a Retirement Plan for Your Small Business? By Carrie Schwab-Pomerantz Dear Carrie, My wife started a business 10 years ago and contributed to a regular IRA in the beginning. Three years ago, she incorporated the company and they don't have a 401 (k) yet. What's her best option for retirement savings right now? —A Reader Dear Reader,

  9. Plan Solutions

    Small Business Retirement Accounts $1 million and below. Company Retirement Account (CRA) For those client businesses with an established retirement plan, a Schwab CRA holds your plan's assets, gives you expanded investment options, and lets your clients access Schwab's retirement planning tools, research, and resources. ...

  10. Financial Planning for the Self-Employed

    This is an easy way for a small-business owner to set up a retirement plan that can be used to match employee contributions dollar-for-dollar up to 3%. Alternatively, you could make a 2% minimum contribution to each employee earning at least $5,000 a year. A SIMPLE IRA is most appropriate for small businesses with up to 100 employees.

  11. Overview

    Plan Solutions. We offer a full spectrum of plan solutions for a wide array of plan sizes and types. To help you meet a broad range of client needs, we support many types of employee benefit plans, including defined benefit, defined contribution, nonqualified plans, and more. We provide: Independent retirement plan providers 2 paired with Schwab.

  12. Retirement Services from Schwab

    Comprehensive workplace 401 (k) services. Design an employer-sponsored retirement plan that helps your business attract and keep top talent. Schwab Retirement Plan Services acts as the recordkeeper, streamlines plan administration, and takes a holistic approach to helping support your employees' financial lives.

  13. Charles Schwab vs. Employee Fiduciary: Comparing Small Business 401(k

    Comparing the Funds Charles Schwab . As of 2021, Charles Schwab offers various plans for business owners. An individual 401(k) plan for owners with no employees; a SEP-IRA for owners with only a ...

  14. Charles Schwab: How Good Are Its Retirement Services?

    For small business owners, Schwab has individual 401(k)s, SEP IRAs, SIMPLE IRAs, business 401(k)s, and personal defined-benefit plans. Schwab will help you transfer your IRA from another provider ...

  15. How to Pick the Best Small Business 401(k) Plan Provider

    1 SoFi Invest Active investing with SoFi makes it easy to start investing in stocks and ETFs. Open An Account 2 Interactive Brokers Low commission rates start at $0 for U.S. listed stocks & ETFs*....

  16. RPS Homepage

    Pre-Retirement Playbook A step-by-step guide to help you prepare for retirement. Learn more Money Talk From building a budget to setting yourself up for the retirement of your dreams—we're here to help. Let's talk about it. Learn more Schwab Workplace Retirement Mobile App

  17. Schwab Retirement Plan Services guide

    Schwab Designated Brokerages Services, a division of Charles Schwab & Co., Inc., provides technology solutions for corporate clients with regulatory requirements to monitor employee security transactions. . Schwab Retirement Plan Services, Inc., and Charles Schwab & Co., Inc. ("Schwab", member SIPC) are separate but affiliated entities, and ...

  18. The best retirement plans of 2024

    Retirement plans for small-business owners and the self-employed . Plan ... Ubiquity Retirement + Savings offers solo 401(k) plans, while Chase, Charles Schwab and Fidelity all have IRAs.

  19. A rewarding retirement plan for your small business?

    Aside from the thrill of answering only to yourself, running your own small business can offer some very real perks. Perhaps the most significant is that you can set up a small business retirement plan.

  20. 2023 Year in Review: Schwab Retirement Plan Services

    Schwab Retirement Plan Services, Inc., provides recordkeeping and related services with respect to retirement plans. Schwab Stock Plan Services is a division of Charles Schwab & Co., Inc. providing equity compensation plan services and brokerage solutions for corporate clients.

  21. The Corporate Transparency Act and Your Small Business

    The Corporate Transparency Act (CTA), which goes into effect on January 1, 2024, requires otherwise unregulated companies to report information about "beneficial owners"—those who own at least 25% of or exercise substantial control over the reporting company—to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN).

  22. How Do 401(k)s Work? Frequently Asked Questions

    Use Plan Analytics to evaluate your retirement plan and the Plan Health Dashboard to dive even deeper. COMPREHENSIVE 401(K) PLAN SERVICES. Overview Schwab Retirement Plan Services, Inc. acts as the recordkeeper for plans with $10M+ in assets under management and Charles Schwab Trust Bank acts as your plan's custodian and trustee.

  23. Need a Retirement Plan for Your Small Business?

    PRE-RETIREMENT PLAYBOOK. Overview A step-by-step guide to help you prepare for retirement. FINANCIAL FITNESS QUIZ. Overview Find out how you stack up by answering 18 simple questions. SCHWAB SAFE. Overview Find out what we're doing, and what you can do to help safeguard your information.

  24. Hub woos small businesses with pooled retirement plan option

    The plan - which Hub is offering through its wealth management arm, Hub Retirement and Private Wealth - gives small business owners the opportunity to offer their employees 401(k) retirement ...

  25. Charles Schwab

    Its broker-dealer subsidiary, Charles Schwab & Co., Inc. ("Schwab") (Member SIPC), is registered by the Securities and Exchange Commission ("SEC") in the United States of America and offers investment services and products, including Schwab brokerage accounts, governed by U.S. state law. Schwab is not registered in any other jurisdiction.