For years, if you offered a workplace savings plan, you offered a 401k. But the problem with 401k’s is that they don’t really work as small business retirement plans anymore. 401k plans are complex, have high fees, and are limited to only full-time workers.

As an employer, when you offer a 401k plan, you become a legal fiduciary. This means you can be sued if your plan isn’t managed and maintained properly. In addition, the antiquated and regulated technology of the 401k industry creates massive inefficiencies that result in high fees and cumbersome, time consuming plan administration procedures. Plus, you have regular federal filing requirements to comply with.

Then, for people using these plans, 401k rollovers can take a bite out of their personal finances and wealth building.

Knowing all this, it’s not surprising that 55 million working Americans don’t have any workplace retirement plan. What’s needed is a retirement solution that works for businesses—and for individuals.

This is why we created Icon, a retirement plan for small businesses that’s easy to use, costs employers nothing, and removes all the fiduciary risk and federal filing requirements. Built by experts, Icon is a smart retirement plan, it’s ready to use, and you can get your company signed up in about 5 minutes.

Unlike 401k plans, Icon works for all types of workers: independent contractors, gig workers, full-timers and part-timers. Icon works just like a small business 401k plan, so people make regular pre-tax payroll contributions, but it’s a low-cost individual retirement account.

The advantage is, workers keep their Icon plan when they leave you. They never have to figure out how to rollover their old 401k. Plus, investing decisions are simplified, helping reduce anxiety in the investment process and allowing people to start saving confidently.

Icon uses state-of-the-art technology to deliver a modern retirement plan. We’ve built in the smartest aspects of a retirement plan, from easy digital onboarding, to simplified account management, integration with payroll providers, and high-quality, low-cost funds.

If Icon makes sense to you, your company can offer Icon to just about everyone who works for you.

Better yet, you can sign up in about 5 minutes.