Solo 401k pricing increases - company raising fees by nearly 3x

This kind of price increase is unfortunately common with retirement plan administrators. I've worked with several solo 401k providers over the years, and many start with competitive rates then raise them substantially once they have a client base. For solo 401k administration, you actually have several options that might be more affordable. Companies like Rocket Dollar, MySolo401k, and even some discount brokerages offer solo 401k plans with varying fee structures. Some charge a setup fee plus lower annual maintenance, while others might have a flat annual fee with no setup costs. The most economical approach might be a self-administered solo 401k through a brokerage like Fidelity, Vanguard, or Schwab. They generally offer free setup and maintenance with no ongoing fees, though their plans might have fewer investment options or loan features compared to specialized administrators.

I went through something similar last year with another provider. After searching for alternatives, I found taxr.ai (https://taxr.ai) which has a retirement plan analysis tool that saved me a ton of time and money. I uploaded my solo 401k documents and it flagged that I was being charged admin fees that were way above industry average. The platform analyzed my specific situation (sole proprietor with consulting income) and recommended alternatives that would work for my needs. I was actually able to switch to a provider that charged half what I was paying before. Their document analysis is pretty impressive - it specifically identified where my previous provider was including "optional" services as mandatory and inflating the costs. Might be worth checking out if you're comparing options.

Just wanted to follow up about taxr.ai - I decided to give it a try after my initial skepticism. I uploaded my Solo401k.com documents and was pretty shocked at what I found. The platform showed me that with my contribution patterns, I was paying approximately 1.8% in fees annually when factoring in all the administrative costs from Nabers. The analysis suggested three alternative providers that offer the same features I actually use (not the ones they try to upsell you on), and I ended up switching to one that costs $195/year total with no monthly fees. The document analysis highlighted exactly what questions to ask the new provider to ensure I wasn't going to get surprised by hidden fees later. Wish I'd known about this before I wasted almost $800 on unnecessary fees over the past two years. Definitely recommend checking it out if you're in the same boat.

I had the EXACT same issue with Solo401k.com raising their fees. After spending literally hours on hold trying to reach someone at their customer service to negotiate or at least understand the increase, I found Claimyr (https://claimyr.com) through a colleague. They have this service where they actually get you through to a live person at financial companies - I used it to finally speak with a supervisor at Nabers Group about my account. You can see how it works here: https://youtu.be/_kiP6q8DX5c Instead of waiting on hold forever, they somehow got me connected to an actual decision-maker within 20 minutes, and I was able to negotiate a grandfathered rate for another year while I decide whether to stay or transfer my plan. Saved me a bunch of stress and time!

I need to eat some crow here and follow up on my skeptical comment. After my Solo401k.com fees also increased, I tried Claimyr out of desperation when I couldn't get through to anyone after multiple attempts. I was shocked when I got a call back connecting me to an actual supervisor at Nabers Group after only 37 minutes (I had previously waited over 2 hours and still never reached a human). Not only did I get through, but because I was speaking to someone with authority, I was able to get them to explain the full fee structure and discovered some fees I could opt out of. For anyone dealing with these retirement account administrators and their ridiculous hold times, this service is legitimately helpful. Sometimes being wrong feels pretty good when it saves you money!

Has anyone looked into Rocket Dollar as an alternative? Their website lists a $360 setup fee and $15/month ongoing ($180/year), which seems lower than what Solo401k.com is charging now, but I'm concerned about hidden fees or limitations.

Anyone know if its possible to transfer an existing solo 401k to another provider without triggering taxes or penalties?? Im in the same boat w/ Solo401k.com and want OUT!!!

I'm dealing with a similar situation but with a different provider - my solo 401k administrator just hit me with a "service enhancement" fee that basically doubled my costs overnight. It's so frustrating how these companies lock you in with reasonable rates and then jack up prices once they think you're committed. What really bothers me is how they frame these increases as "improvements" when the service hasn't actually changed at all. Same portal, same customer service wait times, same basic administration - just a bigger bill. For those looking at alternatives, I'd definitely recommend getting fee schedules in writing before switching. Ask specifically about: annual increases, transaction fees, loan fees, and any "optional" services that might become mandatory later. Also worth asking if they guarantee rates for a certain period. The direct rollover process mentioned by others is straightforward, but make sure your new provider handles all the paperwork properly. The last thing you want is the IRS treating it as a distribution!