SaveDay saves the day: Low-cost 401(k) provider with top-notch support. SaveDay, in our eyes, is the best 401(k) provider on the market for one fantastic reason: Their technology and fee structure means employers spend nothing to set up and maintain the plan, and employee accounts have a negligible AUM fee that is lower than that of most 401(k) providers. Compared to other "discount" 401(k) providers -- and we looked at many -- SaveDay's bargain almost sounds too good to be true. But, happily for us, it is true. With SaveDay, we can actually provide 401(k) accounts to college students in temp summer jobs, giving them a beautiful head start on retirement saving at zero cost to us as the employer. As another reviewer put it, what we save in fees we can now spend toward a company match for our employees. Plus, we don't have to worry about excessive fees overwhelming the value of a small initial account size. Can you imagine paying $8 per month at a "discount" 401(k) provider to maintain a tiny $100 retirement account for a temp employee? Who wants to pay 8% per month in fees? The math means most businesses will only offer 401(k)s to full-time salaried employees, while part-time and seasonal employees are left out. But SaveDay's AUM fee on a temp employee's tiny $100 account is about 3 cents per month, far less than a typical mutual fund. This cost structure is a game-changer for small businesses and, more importantly, for small-business employees, especially part-time and seasonal workers. SaveDay is shifting the entire ballgame in favor of the little guy. Even so, we were admittedly a little hesitant to sign up. Because of the low cost, we were expecting a low level of service, but we could not be more wrong. Our biggest surprise was the level of detailed attention that we received from SaveDay when setting up the plan, which one of their experts customized to our highly particular desires. After that, the same contact person proactively reached out to help us set up our initial contribution processing. We didn't actually need that help because SaveDay's online system is so easy to use, but it was nice to have a friendly expert available to call or email at a moment's notice. We have now been working with SaveDay for six months since our initial contact, and we couldn't be more pleased. Support has been phenomenal. Funding has been seamless and fast. Employees have direct login access to their accounts and allocations. Everybody is saving. Everybody is happy. SaveDay might be a hidden gem today because of its (relative) newness on the market, but mark these words: SaveDay will become one of the biggest names in an industry that is overdue for some much-needed disruption. Just watch!

Highly recommend SaveDay Very easy to use dashboard for setting up a small biz 401K. No reason every company shouldn't have a 401K program for their employees when it's this easy.

Horrible service, what a scam! Requested a 401k distribution to close on a house. Was told it takes 2-3 weeks for what should be a simple ACH transaction. There’s no public phone number to call. The chat bot on the website still had an OOO reply from a holiday that was months ago. When I did fill out an email request and receive a number to call, the auto answer just says “there’s no one available to take your call”. Another week goes by and only half of the funds get distributed to my account. What a scam of a company. For a business that holds significant amounts of people’s money, this should be illegal.

Good investment return Low fees. Easy interface. Good return on my investments

Great 401(k) plan! Why don't more people know about SaveDay? We had been wanting to start a 401k plan for years and never found a low hassle, reasonably priced option until stumbling upon SaveDay. SaveDay's 401k plans have no cost the business at all and employees who chose to enroll are charged less than 1/2 % a year. Plus since we didn't have to pay SaveDay, we could offer a better company match too. Service has been good and the experience is all online. The website is easy to navigate and has everything I expect and more. We use QuickBooks and SaveDay works well with them.