The PRP by Icon.

Easy. Affordable.

PRPs offer a plan packed with features but without the high-cost, hidden fees, and ancillary costs that come with traditional plans.
No hidden fees
No transaction fees
No audit fees
No fiduciary insurance

Not like traditional plans.

Straightforward pricing.

Icon offers flat monthly pricing, based on the number of employees at your company, enrollment is unlimited.

It’s never been easier to offer a plan.

Full-service plan management included.

All recordkeeping and plan administration
Our platform handles all of the record keeping and transactions.
Employee enrollment and account creation
We handle inviting employees to create their account and enroll in the plan.
Communications and education
Icon takes care of employee communications and provides financial education information.
Fund selection and portfolio management
Icon is a fiduciary. We recommend a portfolio tailored to the employee and handle all portfolio management.
Account statements, tax documents
We provide regular account statements as well as the documents needed at tax time.
Intuitive employer dashboard
Employers can easily get an overview of their plan, including total contributions to date and participation metrics.

Compare plan types

PRP vs 401k

Affordable, flat fee
Expensive, variable costs
ERISA bond
Audit fees
Fiduciary risks
Employer is a fiduciary
Fiduciary insurance

ERISA explanation

Regulations increase the cost of traditional plans.

All employers offering a 401k plan are subject to ERISA, a federal law that sets requirements for how these plans are operated. This compliance layer can make these plans expensive. Icon plans are not governed by ERISA.
Fiduciary Responsibilities
Employers must act in the best interests of the plan participants. This includes selecting and monitoring plan investments and service providers carefully. Failure to adhere to these fiduciary responsibilities can lead to lawsuits or regulatory action, increasing costs due to legal fees and potential penalties.
Administrative Burden
ERISA requires detailed reporting and disclosure to both the government and participants. The administrative tasks include filing annual reports, providing summaries of plan descriptions, and delivering individual benefit statements. These requirements add to the administrative burden and may necessitate hiring additional staff or external services.
Compliance and Auditing Costs
To ensure compliance with ERISA, plans may undergo audits, especially if they have 100 or more participants. Audits must be conducted by an independent qualified public accountant, which can be costly. The complexity of compliance with the multitude of ERISA regulations also means that employers often need to seek legal advice, further escalating costs.
Insurance Premiums
Employers that want to protect plan fiduciaries against claims of mismanagement will want to have fiduciary liability insurance. The cost of this insurance varies depending on the plan size and coverage limits.
Participant Lawsuits
If participants believe their benefits have been mismanaged or that the plan has not complied with ERISA, they may file lawsuits. Defending against these suits can be expensive, even if the employer is ultimately found not to have violated ERISA.
Investment Management Fees
Part of the fiduciary duty is to ensure that the fees for managing plan investments are reasonable. Employers must regularly review these fees, which may involve consulting with financial advisors, potentially increasing the cost of plan administration.
Penalties for Non-Compliance
Non-compliance with ERISA can result in significant penalties. These can include fines from regulatory agencies (like the Department of Labor), as well as the costs associated with corrective measures to bring the plan into compliance.

Icon is a non-ERISA plan

Icon works like a 401k with automatic payroll contributions into a tax-advantaged retirement account but is not an ERISA plan.

Icon is an SEC registered investment advisor, and has a fiduciary duty to act in the best interest of our clients.


Can any size company use Icon?
Yes! We built our technology platform to work for small businesses to large companies with tens of thousands of employees. We integrate with payroll and banking partners to automate plan administration tasks.
What’s the catch?
There is no catch. We use technology to automate administrative tasks, this allows us to keep our pricing low and we pass that savings on to you. Businesses pay a flat monthly fee that covers the plan operating costs, there are no additional transaction fees. Participating employees pay a flat monthly fee of $4, deducted from their month-end account balance.
Does this connect to my payroll system?
Yes. Our platform connects to your bank and payroll.
How do I know my investments are secure?
We use bank-level security. Icon accounts are held by Apex, one of the most trusted custody banks in the United States.
Are contributions tax-advantaged?
Yes. Employees’ savings are placed in a tax-advantaged Individual Retirement Account.
What investments are available?
Icon uses low-cost ETFs from BlackRock and Vanguard, two of the world’s most respected and well-known asset managers. Our portfolios are constructed using ETFs with average fund fees of 0.07%, which is significantly less than the industry average of 1.13%*. Icon receives no sales commissions or other fees associated with the selection of funds.
*2019, 401k Book of Averages

Still have questions?

We’re here to help.

Connect with our business team to compare plans and find the right solution for your business.