One-time implementation fee applies. $500 for new plans, $1,000 for conversion plans.
The Annual Base fee covers the work required for compliance items for the year(s) that your plan is active on the Betterment platform. It is a set fee and not prorated because the work necessary to ensure your 401(k) plan is compliant is a yearly effort.
This fee covers preparing your plan document, annual compliance testing, draft Form 5500, and other compliance-related items. This fee is billed at the time of your first payroll upload and in Q1 of every year after that, as long as your plan is active with assets on the Betterment platform.