Let's Find The Right Employee Retirement Plans Service For You

Pros / Vanguard features a mobile app and an online account for participants.

Cons / It took several days before we received a response from Vanguard, and they did not answer many of our questions.

 Verdict / Although Vanguard has many tools, including retirement calculators and online educational resources, its customer support is disappointing.

As an employer, offering a retirement plan can make your company more appealing to prospective employees. Vanguard is a 401(k) provider with many retirement plan options to ensure you and your employees are prepared for retirement. This service works with small businesses to offer the best plan and features for your employees. Vanguard has many standout features, including a mobile app, online access and the ability to transfer plans. Additionally, this service can assist your company not only with establishing your plan and employees' accounts but ensuring your employees have access to knowledge and resources to educate themselves and manage their retirement account.

This employee retirement service offers a variety of plan options. Whether you are looking for an individual retirement plan or a Roth 401(k), you can receive assistance from Vanguard. One of the advantages of working with Vanguard is that you work directly with an advisor who can help you throughout the entire planning process. This allows you to receive critical advice from an expert when choosing, establishing and maintaining your plan.

Once an account has been created, participants can view their balance and other information online. This allows them to monitor all data. In addition, Vanguard offers a mobile app where employees can view their account information on the go. An app is available for both iOS and Android devices.

If an employee already has a retirement account, they can roll savings from their existing account into their new Vanguard account. This makes record keeping and managing accounts much less of a burden for your employees.

If you wish to speak directly with a Vanguard representative, email and phone support are available. As part of our evaluation, we reached out to Vanguard to assess its customer support. After emailing several inquiries to the company, we finally received a response several days later. The response was detailed but it didn't specifically answer many of the questions we asked. In addition to phone and email, there are several online resources available, including articles and retirement calculators, to assist with planning as well as answer any general concerns or questions you may have.

Summary

Employers and employees alike enjoy numerous benefits with Vanguard. It offers investment advice and assistance throughout the entire retirement-planning process and comes with convenient features, such as online and mobile access, which make it possible to monitor your accounts, no matter where you are or the time of day. We would like to see some improvements to its customer support; we were disappointed it took so long to receive a response back from the company. That said, the number of plans and numerous features this 401(k) provider offers make it an excellent choice for preparing you and your employees for the future.

Specifications and Benchmarks

Help & Support

Help & Support Score
80%
Email
Telephone
Online Resources
FAQs

Types of Plans

Traditional 401(k)
Roth 401(k)
Owner-Only 401(k)
Profit Sharing
Safe Harbor
SIMPLE IRA
Roth IRA
SEP-IRA
Defined Benefit Plans

Plan Maintenance

Vesting
Employer Contribution
Compliance Testing
Integrate Payroll Information
Mobile Access

Plan Creation

Participant Website
Employer Website
Transfer Current Plan

Fees

Annual Administration Fees
Custom Quote
Establishment Fees
Custom Quote