Make Saving Simple
Intentionally designed 401(k) plans for businesses of any size. Made to be simple, transparent, and straightforward.
Set up a retirement plan for your business in under 15 minutes that avoids expensive asset-based fees, boosting your employees' savings.
Administration Features
We made 401(k) plans seriously easy, so you can focus on running your business.
Penelope Recordkeeping
Payroll Integration
Intuitive dashboards & on-demand service
Regulatory Support
We track your 401(k) plan’s balances, transactions, deferrals and more in-house.
This means that you get access to all your records faster and easier.
“The idea that we can provide a future, forward-looking service like a 401(k) plan has been really important in recruitment.”
Halley Chambers & Kip Green
Co-Founders, Margot
Don’t wait any longer to start building wealth for you and your employees.
Get started today by answering a few simple questions about your business and let us help you build your 401(k) retirement plan.
Simple & transparent pricing
No Fees = More Savings
When businesses offer a Penelope 401(k), they ensure their employees can invest more of their hard-earned money. Penelope doesn’t charge asset-under-management fees, so employees can save as much as 40%* more for their retirement.
Save more
Take Advantage of Tax Benefits
SECURE 2.0 Act introduced a range of tax credits that make 401(k) plans more affordable for businesses.
As a business, you may qualify for a tax credit that covers 100% of your plan start-up costs and employer match. These tax credits can add up to $16,500* and are available for three years.
Simple by design
401(k) Plans Shouldn’t be so Complicated
Penelope makes it easier for businesses to provide 401(k) plans. Our turnkey systems are easy to implement and automate, and we handle all your compliance needs.
Safe Harbor Plan
A cost-effective 401(k) for small businesses that want to help employees save more.
- $23,000 Annual Contribution Limit
- Employer Match
- Payroll Integration
- Auto Enrollment
- Customizable Plan
- Pre-tax or Roth
$125
/mo subscription fee
+ $10 per active employee/month
That’s it! We never charge any other fees
Starter 401(k) Plan
A simple and affordable 401(k) option for small businesses to offer their employees.
- $6,000 Annual Contribution Limit
- No Employer Match
- Payroll Integration
- Auto Enrollment
- Simple Investments
- Pre-tax or Roth
$49
/mo subscription fee
+ $5 per active employee/month
That’s it! We never charge any other fees
Plan Features
Starter 401(k)
Safe Harbor 401(k)
Payroll Integration
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Recordkeeping & Custodial Services
3(16) Fiduciary Services
5500 Filings
Compliance Support
Auto Enrollment
Rollover Support
Pre-tax & Roth Contributions
Dedicated Support
Employer Contributions
Customizable Plan Design
Profit Sharing
Start growing
your wealth today
1 •
Start your plan
In just 15 minutes, use our simple plan builder to set up your personalized 401(k) plan that’s tailored to to your business needs.
2 •
Connect your payroll provider
Quickly connect your payroll provider and let us do the rest. We auto-enroll your new hires, update salary changes, and change employment types.
3
Watch your wealth grow
Focus on your business knowing your money is growing while we take care of everything!