For years, if you offered a workplace retirement savings plan, you offered a 401(k).

But the problem is, they don’t really work as small business retirement plans anymore. 401(k) plans are complex, have high fees, and are limited to only full-time workers.

Worse, when you offer a 401(k) 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 401(k) 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, 401(k) 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 401(k) plans, Icon works for all types of workers—independent contractors, gig workers, full-time and part-time workers. Icon works just like a small business 401(k) 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 401(k). Plus, investing decisions are simplified when people don’t have to continually change their retirement planning—and Icon’s consistent, low-cost investing helps compound interest work its long-term magic.

Icon uses state-of-the-art technology to deliver a modern browser-based retirement plan. We’ve built in all 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. Just click the “Get Started” button in the corner to see how easy it is to help your employees save for retirement.