401(k) Providers
Best 401(k) Providers for Small Business
Small businesses usually start a first plan with no benefits staff, so the goal is a plan that runs from payroll with little manual work and clear costs. Owners often compare a 401(k) with a SIMPLE or SEP IRA, check whether their state requires employers without a plan to join a state program, and look at the IRS startup credits first.
- products that fit
- 7
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Top 3 by LeadChange Scoreof 7 that fit · 4 not scored yet · scored for small business (reweighted)
Human Interest9.2 out of 10, High confidence
Fidelity Workplace Investing8.3 out of 10, Medium confidence
Betterment at Work7.9 out of 10, High confidence
Paychex Retirement ServicesNot scored yet
Principal Financial GroupNot scored yet
EmpowerNot scored yet- Vanguard Workplace SolutionsNot scored yet
See the full rankingHighMedium confidence
Our top picks
- Best overall
Human Interest
by Human Interest Inc.
Highest LeadChange Score here (9.2/10), with 8 of 10 core 401(k) capabilities verified.
From $80/mo + $5/employee/mo1
- Best value
Fidelity Workplace Investing
by FMR LLC
Lowest published list cost at 25 employees ($100/mo) among products scoring at or above the median.
From $100/mo2
LeadChange Score: editorial assessment based on public information.
401(k) providers for small business, ranked
Ranked by LeadChange Score from verified facts; products with too few verified facts are not scored yet and come last. Prices are list prices as published by each vendor.
Filter by verified facts
Human Interest
Human Interest is a 401(k) and 403(b) provider for small and medium-sized businesses, based in San Francisco, with three plans priced as a monthly base fee plus a fee per eligible employee.
Fidelity Workplace Investing
Fidelity Workplace Investing sells Fidelity Advantage 401(k), a Safe Harbor plan for businesses with 2 to 1,000 employees starting their first 401(k), from privately held Fidelity, founded in 1946 in Boston.
- Pricing model
- Base fee + per employee2
Betterment at Work
Betterment at Work is the 401(k) for small and mid-market businesses from Betterment, based in New York, with 3(16) and 3(38) fiduciary services, compliance testing and 350+ payroll integrations. Essential costs $100 a month billed annually plus $5 per participant and a 0.25% advisory fee; Flagship is quoted.
Paychex Retirement Services
Paychex Retirement Services is the 401(k) business of Paychex, a public company founded in 1971 with headquarters in Rochester, New York and Cincinnati, Ohio; it offers pooled employer, traditional, solo and SIMPLE/SEP plans. Pricing is quoted; Paychex states SOC 2 Type 2 reports and ISO 27001 certification.
Not scored yetPaychex Retirement Services plans and pricesPrincipal Financial Group
Principal offers 401(k), 403(b), 401(a) and pooled employer plans from start-up to large institutions, plus Simply Retirement by Principal for businesses with fewer than 100 employees; the company was founded in 1879 and is based in Des Moines, Iowa.
- Pricing model
- Base fee + per employee8
Show all 7 products
- EmpowerNot scored yet (9 of 24 facts verified)Empower plans and prices
- Vanguard Workplace SolutionsNot scored yet (9 of 24 facts verified)Vanguard Workplace Solutions plans and prices
LeadChange Score: editorial assessment based on public information.
What matters for small business
Payroll integration
Automated deferral feeds help contributions reach the plan on time without manual uploads.
Included testing and Form 5500 help
Owners rarely have the expertise to run compliance tests or prepare annual filings.
Startup tax credit guidance
Eligible small employers may claim IRS credits for startup costs and automatic enrollment.
Published, all-in employer fees
Fixed costs weigh most on small plans. Compare the base fee, any fee per participant, setup fees and what employees pay as a share of assets, all in one written fee disclosure.
Safe harbor and automatic enrollment designs
A safe harbor design is not subject to the annual nondiscrimination tests that plans with highly paid owners often fail, and adding automatic enrollment can qualify an eligible employer for a separate IRS credit.
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Find your fit
More on 401(k) providers
- All 401(k) providers, ranked
The full ranking, top picks and how to choose.
- 401(k) Providers comparison table
Every product side by side: score, price and verified features.
- 401(k) Providers pricing guide
Published list prices, cost by headcount and fees to ask about.
- 401(k) providers for mid-sized companies
The ranking reweighted for mid-sized companies.
- 401(k) providers for enterprises
The ranking reweighted for enterprises.
- 401(k) providers for government
The ranking reweighted for government.
- 401(k) providers for nonprofits
The ranking reweighted for nonprofits.
Frequently asked questions
Is a 401(k) worth it for a small business?
It can be, when you want to attract and keep staff and save for your own retirement in a tax-advantaged plan. Owners weigh the employer fees, any match they commit to and the admin time against those benefits, and eligible small employers may claim IRS tax credits that offset startup costs for the first three years.
Can I set up a 401(k) for my small business?
Yes. A business with employees can sponsor a 401(k), and an owner with no employees other than a spouse can use a solo 401(k). The IRS and Department of Labor list the first steps: adopt a written plan document, set up a trust for the plan's assets, create a recordkeeping system and give plan information to eligible employees. A provider usually handles most of this.
Which type of 401(k) is best for a small business?
It depends on who you employ. A traditional 401(k) gives the most design freedom but must pass annual nondiscrimination tests; a safe harbor 401(k) requires fully vested employer contributions and is not subject to those tests; a SIMPLE 401(k) has fixed contribution rules for smaller employers. Ask each provider which designs it supports.
Do small business 401(k) providers handle compliance testing and the Form 5500?
Most providers on this page list annual testing and Form 5500 help, but the scope varies by plan tier. Ask whether testing, corrections and the Form 5500 or 5500-SF are included in the price you were quoted, and who signs and files the return.
Can a small business switch 401(k) providers?
Yes. The new provider usually runs the conversion: it moves plan assets and participant records, and employees face a short blackout period when they cannot change investments. Before switching, compare the current provider's exit fees with the new provider's setup or conversion fee.
Does a small business have to offer a 401(k)?
No federal law requires one, but a growing number of states require employers without a retirement plan to enroll employees in a state-run IRA program or offer a plan of their own. The rules depend on the state and on company size, so check your state's program before you choose a provider.
What should a small business ask a 401(k) provider before signing?
Ask for the written fee disclosure, which fiduciary roles the provider takes on in the service agreement, whether your payroll system syncs directly, who runs testing and files the Form 5500, and what it costs to leave. Comparing the same answers from several providers is the fastest way to see real differences.
How much does 401(k) providers cost for small business?
At 10 employees, the lowest published list prices among the products ranked here are Fidelity Workplace Investing ($100/mo), Human Interest ($130/mo), and Betterment at Work ($150/mo); the median of 4 products is $140/mo. List prices, before discounts and add-ons.
Which 401(k) providers for small business integrate with Gusto?
Gusto, listed by 3 of the 7 401(k) providers for small business: Betterment at Work, Fidelity Workplace Investing, and Human Interest.
How we research
This ranking of 401(k) providers for small business reweights the LeadChange Score: capability coverage 25%, pricing transparency & value 30%, integrations & API 10%, security & compliance 10%, fit & support 15%, and data confidence 10%. Only products with a verified fact showing they serve this segment are listed.
How this page was made
What it is built from
24 verified facts, each checked against the vendor's own pages or another primary source, most recently on Oct 25, 2026.
Method
Scored and compared with the LeadChange methodology, version 1.3. Read the methodology
Independent review
Not reviewed yet by our independent reviewer. How we review
Hands-on testing
We have not tested these products hands-on: this page uses public information only.
Who made it
The LeadChange Research Team, following a written research process. No named expert has reviewed this page. About us
Independence and errors
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Sources
The 8 pages this page's facts come from, with the day we last checked each one. The numbers beside the figures above link here.
Quotes from the sources
- Human Interest humaninterest.com/pricing“Per eligible employee $5 / mo” “$80 /mo base +$5/mo per eligible employee”
- Fidelity Investments fidelity.com/retirement-ira/small-business/401k-plans“$100 monthly fee”
- Human Interest security.humaninterest.com“SOC 1 SOC 2 Type 1 SOC 2 Type 2”
- Betterment betterment.com/work/pricing“monthly record-keeping fee per participant”
- Betterment betterment.com/hubfs/PDFs/b4b/employer-dashboard/Betterment%20at%20Work%20Security%20Brochure.pdf“Audit reports are made available to clients, including a SOC 2 Type II with coverage for the security program, as well as a SOC 1 Type II report with coverage for internal controls specifically relevant to us.”
- Paychex paychex.com/retirement-services“The cost of a Paychex 401(k) plan depends on factors like your business size and the services you require.”
- Paychex paychex.com/corporate/security“Paychex maintains SOC 1 Type 2 and SOC 2 Type 2 reports over various products and services.”
- Principal simplyretirement.com/business-owners/why-simply-retirement“There’s a one-time startup fee of $500 for bundled plans, a monthly recordkeeping fee as low as $145 ($435 billed quarterly), and a $6 monthly fee per participating employee.”