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Provided by Icon

A smart new type of retirement benefit. Effortless administration. Designed to run itself.

What is a PRP?

The Portable Retirement Plan (PRP) is a new type of retirement benefit that removes the high cost, regulatory complexity, and fiduciary responsibility from employers, while giving employees personalized, tax-advantaged retirement savings and investing.

There are no annual filings, no plan testing, no audits, and no ongoing plan administration. Icon handles enrollment, communications, forms, and participant support.

How is the PRP different?

PRPs are a smart alternative to the 401(k), designed to run itself, so employers get a high-quality retirement benefit without the ongoing administration effort.

What are the benefits of a PRP?

Icon’s PRPs are fully integrated with isolved, delivering a new type of retirement benefit without complexity.

  • Effortless Administration: Set up in minutes. Designed to run itself. There are no annual filings, plan testing, audits, or ongoing plan administration. Because the PRP is non-ERISA, employers avoid fiduciary responsibility while Icon handles enrollment, communications, forms, and participant support.

  • No annual compliance burden. No nondiscrimination testing, annual audits, Form 5500 filings, or ERISA administration, making it easy to offer retirement without ongoing compliance work.

  • Meets state retirement mandates. A fast, simple way to satisfy state retirement requirements while offering employees a modern retirement benefit that requires virtually no ongoing administration.

  • Built for every workforce. Offer a retirement benefit to hourly, salaried, W-2, and eligible 1099 workers through one simple plan.

  • Matching is never required. Employers choose whether to contribute to employee retirement savings, and how much. The PRP gives employers the flexibility to design a benefit that fits their business.

  • Everything employees need. Employees can view balances, update contributions, track their progress, and manage their retirement savings through a simple online experience.

  • Professionally managed investing. Each employee receives a personalized, professionally managed investment portfolio designed to align with their goals and risk profile. Icon is an SEC Registered Investment Advisor.

  • Native Portability. Employees own their retirement account from day one. It stays with them throughout their careers — no forced rollovers, no abandoned accounts, no starting over.

  • A benefit employees value. Retirement benefits help attract and retain talent. The PRP gives employees personalized, tax-advantaged retirement savings while helping employers compete for today's workforce.

How does the app work?

Integrated with isolved. Payroll contributions flow automatically from isolved into each employee's PRP account. Icon guides employers and employees through onboarding and provides dedicated support every step of the way.

If you are an employer currently using this app and have questions about the integration, please contact your isolved Customer Service Representative.

If you are an employer interested in learning more about this app, please use the Contact Us button above to be connected.

Availability varies based on your organization’s configuration. Please reach out to your sales representative to confirm.