Gusto Retirement Pro is a free program for accountants and financial advisors. It gives financial professionals a dedicated dashboard to set up, manage, and review Gusto 401(k) plans on behalf of their clients. Expand the sections below to learn how the program works and how to get started.
Gusto Retirement Pro gives accountants and financial advisors free access to a dedicated dashboard to set up, manage, and review Gusto 401(k) plans on behalf of their clients. Gusto Retirement can also process and pay advisors' asset-based advisory fees on behalf of plan sponsors.
Gusto Retirement Pro features the same service and pricing as our direct business, built specifically for financial professionals who want to offer Gusto 401(k) plans to their clients.
Gusto Retirement is a full-service 401(k) plan with straightforward pricing:
Employers pay a flat fee.
Employees pay an account fee and a low fund expense, depending on which funds they invest in.
View an outline of our key services and pricing.
The typical Gusto 401(k) client is a tech-savvy company establishing a 401(k) plan for the first time. These companies typically have fewer than 50 employees and use a cloud-based payroll provider.
That said, many of our clients are established companies with hundreds of employees who want to minimize asset-based fees and offer a participant-focused 401(k) plan.
You can schedule time with a Gusto Retirement account executive to discuss plan design and compliance testing.
Note: Every Gusto Retirement plan includes automatic enrollment. We do not currently support an hours-of-service (part-time employee) eligibility restriction.
Gusto Retirement reduces employees' costs by avoiding layers of fees and using low-cost index mutual funds.
Gusto Investment Services' managed portfolios have blended expense ratios ranging from 0.058% to 0.061% of assets under management.¹ Expense ratios for custom portfolios will vary. View the complete fund menu.
We select funds aligned with our responsibilities as a 3(38) fiduciary. Most Gusto Retirement participants use our portfolio recommendation tool to invest in one of our recommended portfolios. Participants can also build their own custom asset allocation from the curated list of funds.
¹ The managed portfolios have blended expense ratios ranging from 0.058% to 0.061% of assets under management. Expense ratios for custom portfolios will vary. These expense ratios are subject to change by and paid to the fund(s). Gusto Retirement uses a third party to provide custodial services. Custodial fees are paid by Gusto Retirement.
To set up a Gusto 401(k) plan for a client who does not have an existing 401(k), follow these steps based on your role:
In your Gusto Retirement Pro account, select Add a Plan > No.
In your Gusto Retirement Pro account, select Clients, then Add a Plan > Start a new plan.
From there, you can design the plan on the client's behalf or enter their contact information. If you enter their contact information, Gusto Retirement will send them an email to complete the plan setup.
Important: Whether the plan is designed by you or the plan sponsor, the plan sponsor must appoint an authorized representative to serve as the plan's trustee and enter into a service agreement with Gusto Retirement.
For clients with an existing 401(k) who want to transfer to Gusto Retirement, the first step is a plan review. While most plans are similar to a Gusto 401(k) plan, certain features could complicate the conversion. Gusto Retirement wants to make sure all parties understand what the conversion may involve before a decision is made.
To start a plan review, submit the adoption agreement for the existing 401(k) plan through the secure portal in your Gusto Retirement Pro account:
Select Add a Plan > Yes > Another Provider to submit the adoption agreement.
Select Clients, then Add a Plan > Transfer an existing plan to Gusto Retirement to submit the adoption agreement.
Gusto Retirement will deliver the plan review in approximately 2 – 3 business days to discuss differences and next steps.
Important: All plan sponsors transferring an existing 401(k) to Gusto Retirement need to set up and maintain an Premium plan for at least one year. After one year, the plan is eligible to switch to a different pricing plan.
Gusto Retirement can process and pay advisors' asset-based advisory fees on behalf of plan sponsors. Fees are prorated daily and withdrawn from plan assets quarterly, in arrears.
If you are interested in having Gusto Retirement process your advisory fee, reach out to us at [email protected].
You can schedule a demo or consultation for prospective Gusto Retirement clients by reaching out to your dedicated sales representative. Your sales representative is also your main point of contact for any questions.
With Gusto Retirement Pro, you gain access to tools and support to help your clients achieve their financial goals. Get started for free today.