Starting July 1st, 2021 Guideline will be adjusting our pricing structure to better serve our Plan Sponsors and Participants. Below you will hopefully find answers to questions you may have as a Guideline Customer.
How did you come up with the new pricing structure? What kind of customer feedback did you receive?
We revamped our pricing to align our infrastructure with our growing community of 20,000+ businesses. Over the years, plan sponsors have told us that they want more flexibility and plan customization options. Our pricing structure helps provide that. We’ve also heard from participants that transaction fees are a source of frustration. By eliminating transaction fees—like distribution fees, rollover fees, and loan fees—we will be able to create seamless, affordable retirement plans that truly put people first.
How will this affect me?
401(k) Plan Sponsors
Your new pricing plans for 401(k) plans will be based on the features and services in your current plan. For some, this pricing change will result in a new flat monthly price. For others, it will be a new base fee in addition to the flat monthly participant fee, which will remain the same.
401(k) Plan Participants and IRA/SEP IRA Account Owners
401(k) plan participants (including dismissed employees) as well as IRA and SEP IRA account owners will pay a 0.08% account fee based on their account assets. Guideline deducts this fee on a monthly basis based on the month-end account balance. This fraction of a percentage comes out to about 67¢ a month for every $10,000 saved, and allows us to remove transaction fees like distribution fees, rollover fees and loan fees.
When is this happening?
What deadlines and key dates do I need to be aware of?
If you’re an existing customer, your new pricing tier will go into effect on 7/1/2021. For all prospective customers, new pricing is effective 5/3/2021