Express(k) is designed for the businesses whose employees wish to contribute the most they can to a retirement plan to maximize their benefit.
You can put away up to $17,000 per year in individual tax-deferred contributions (or $22,000 for those age 50 or older). Although it’s not required, employers do have the option to make a profit-sharing contribution for a total maximum contribution of $50,000 per individual (or $54,000 for those age 50 or older).
The Online 401(k) maintains your plan documentation, compliance testing and mandatory IRS form-filing requirements for you (additional fees may apply). This includes Forms 1099 and 5500 that must be filed for tax purposes.
You’ll pay a flat fee of $495 to set up the plan, then a monthly fee based on the number of employees you have. Additional fees may apply based on optional features selected and/or investment fees charged by the custodian. Learn more about Express(k) pricing here.
Pre-tax contributions are made to the plan directly from your paycheck.
Investment options are carefully selected and monitored by Morningstar. Learn more about Express(k) investments here.