Overview

Freelancers Retirement Plan

Freelancers Union Retirement Plan

The Freelancers Union 401(k) makes it easier for independent workers to save for retirement. With our partners Charles Schwab Trust Company and Milliman, we’ve developed an innovative, flexible benefit exclusively for our members.

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A cure for the common 401k

Low fees, no minimums, and a Roth option are just some of our plan’s freelancer-friendly features.
Download the full Summary Plan Description (SPD).


 Freelancers Retirement
Plan		 Solo 401(k) SEP IRA IRA
Max. Annual Contribution $16,500 plus profit-sharing from your business* $16,500 plus profit-sharing from your business* 20%–25% of your income, up to $49,000 $5,000
Minimum $0 $1,000–$5,000 per fund** $1,000–$5,000 per fund** $1,000–$5,000 per fund**
Lets you diversify among expertly vetted funds Yes No No No
Handles administration for you Yes No No No
Freelancer-friendly contribution options: automatic or by check Yes No No No
Monitors IRS compliance for you Yes No No No

*Profit sharing is traditionally an arrangement in which an employer shares some of its profits with its employees. In Freelancers Retirement Plan, some participants will be eligible to make both individual contributions and profit-sharing contributions. The limit for both is $16,500 individual contribution plus 20% profit sharing contribution, up to a combined maximum of $49,000.

**If you wish to diversify your investments by putting money in five different funds, you’ll have to meet the minimum each time for each one of those funds.

A more detailed comparison chart can be found here.

Starting lower

All financial companies charge fees for their products - but some hide them better. Here are our fees, which in part pay for expertise and management provided by Charles Schwab Trust Company and Milliman, plus Member Services and administrative costs taken on by Freelancers Union.

Fees are deducted from your retirement account each month:

  • First month: $40 one-time fee + $11 monthly fee
  • Following months: $11 monthly fee
Charles Schwab Trust Company and the individual funds also charge a management fee. (These fees range from less than a half of a percent to 1.6%. You can see them listed as the “expense ratio” - on the complete list of funds printed in the SPD document.) A small percentage of those fees are set aside as an allowance to Freelancers Union to help pay other plan expenses.

That’s compared to thousands of dollars that brokers or accountants may charge for comparable services. And the best part is that the more people there are saving with us, the lower those fees will be.

Itching for more info? C’mon and read on!