Introduction:
For decades, the 401(k) has been the default retirement plan for millions of Americans, but here’s the thing: it wasn’t built for the world we live in today. We live in a world of speed, mobility, and simplicity, where people expect their financial tools to work seamlessly for them. The 401(k) is stuck in the past—outdated, complicated, and far too rigid for the dynamic needs of today’s workforce. But that’s where the Icon PRP comes in. It’s a radical departure from the status quo, delivering flexibility, portability, and ease of access in ways the 401(k) simply can’t.

The Problems with Traditional 401(k) Plans:
Let’s start with the obvious: 401(k) plans aren’t portable. They lock your savings into place, and when you change jobs, it’s a mess—rollovers, paperwork, delays. And the result? Only 10% of people actually roll their plans over to a new employer, while $100 billion is cashed out every year. That’s not just lost retirement savings—that’s lost opportunity.

But it gets worse for employers, especially for small and medium businesses (SMBs). The process of setting up and managing a 401(k) is costly, complex, and riddled with risk. You’re not just offering a retirement plan—you’re becoming a fiduciary, carrying the legal responsibility for your employees’ financial future. It’s no surprise that only 30% of SMBs offer a retirement plan, leaving a staggering 80 million employees without any workplace retirement savings.

The Icon PRP: A Game-Changing Solution
We asked ourselves: What if we could reinvent retirement savings? What if we could make it as simple as setting up an email account, and as portable as the phone in your pocket? That’s what the Icon PRP delivers. It’s a turnkey retirement solution that takes the complexity out of saving for the future. And the best part? It’s portable. It moves with employees, from one job to the next, across industries, without the hassle of rollovers or cash-outs. Your retirement savings follow you—just like everything else in our modern, mobile world.

For employers, especially SMBs, the Icon PRP is a breath of fresh air. It can be set up in minutes, with no complicated forms or administrative nightmares. It’s designed to be low-cost, low-effort, and most importantly, low-risk. The Icon PRP takes on the role of fiduciary, so business owners can focus on running their companies, not worrying about the legal and financial risks of plan sponsorship. It’s retirement planning without the burden.

Why Now? Why the Icon PRP?
Because the world is changing, fast. We’re witnessing the rise of the mobile workforce, and flexible job arrangements have forever altered the landscape of employment. Traditional retirement plans, like the 401(k), are relics of an era when people worked for one company their entire lives. That’s not reality anymore. Today’s workforce needs a retirement plan that moves as quickly as they do. The Icon PRP is built for this new reality—technology-first, seamless integration with HR systems, and real-time savings insights and financial education, all at your fingertips.

Real Impact. Real Scalability.
The early adopters of the Icon PRP are proving that this isn’t just theory—it’s working, right now. Small businesses that could never afford to offer a 401(k) are now able to provide their employees with a top-tier retirement plan. Workers who were left out of the traditional system are now saving for the future, building financial security on their terms. This is real-world change, happening at scale.

Conclusion: The Future of Retirement is Here
The 401(k) once revolutionized retirement savings, but its time has passed. Today’s workforce needs a solution that’s flexible, portable, and inclusive. The Icon PRP is that solution. It’s not just an update to the 401(k)—it’s a completely new way of thinking about retirement, designed for the modern world. We’re delivering innovation, equity, and simplicity to an outdated system. The future of retirement is here, and it’s time to leave the past behind.

ABOUT THE AUTHOR

Laurie Rowley

CEO and founder of Icon

Laurie Rowley is the CEO and founder of Icon, a company disrupting the broken retirement system that has failed half the workforce for decades. With more than 20 years of experience in financial services and technology, Laurie has a proven track record of transforming complexity into simplicity. At Icon, she spearheaded the creation of the Portable Retirement Plan (PRP), a flexible, low-cost alternative to the outdated 401(k). The PRP is truly revolutionary— it’s a plan that makes high-quality, easy-to-manage retirement benefits accessible to all businesses, no matter their size. Under her leadership, Icon has forged key partnerships with payroll providers and benefit brokers, putting the company in a position to redefine retirement for businesses of every size. Driven by a commitment to financial security, Laurie’s mission is to provide businesses a smarter, more inclusive retirement solution.