Employee Fiduciary vs Merrill Small Business 401(k)

EFEmployee Fiduciary8.4Visit Merrill Small Business 401(k)8.0Visit

Higher score EF Employee Fiduciary #5 in 401(k) Software 8.4/10 Paid ✓ 1 of 3 features Visit site

vs

Merrill Small Business 401(k) #7 in 401(k) Software 8.0/10 Paid ✓ 3 of 3 features Visit Merrill

• Employee Fiduciary fits best

  Solo owners and small employers needing compliance support

• Merrill Small Business 401(k) fits best

  Small employers preferring Merrill-managed plans

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Side by side

Feature	EFEmployee Fiduciary 8.4/10 Visit ↗	Merrill Small Business 401(k) 8.0/10 Visit ↗
At a glance
Editor score	8.4	8.0
Ranking	#5 in 401(k) Software	#7 in 401(k) Software
Best for	Solo owners and small employers needing compliance support	Small employers preferring Merrill-managed plans
Pricing model	Paid	Paid
Starting price	$500/yr	$95/mo
Free plan	—	—
Free trial	—	—
Deployment	Cloud	Cloud, Mobile
Platforms	Web	Web, iOS
Support	Phone	Phone, Docs
Built for	Solo, Small business	Small business
Features Employee Fiduciary 1/3 · Merrill Small Business 401(k) 3/3
Employee enrollment	Not checked yet	✓ (best)
Compliance support	✓	✓
Participant mobile app	Not checked yet	✓ (best)
Specs
Plan types	Traditional 401(k), Safe Harbor 401(k), Solo 401(k), 403(b)	401(k); Roth 401(k); Safe Harbor 401(k)
Payroll integrations	QuickBooks Online Payroll, Paylocity, Paychex Flex, ADP Workforce Now, Justworks, TriNet, Rippling, Paycor, Paycom, Sequoia One, UKG Ready, Accuchex, Ahola HR Solutions Payroll, AssetHR, Certipay, Checkwise, Coastal Payroll, ConnectPay, Counter Point HCM, Dayforce, Dominion Payroll, Flexchecks, GTM Payroll Services, Heartland, HR Butler, Hybrid, isolved, OnPay, Patriot, Pay-Net, Paymasterpro, PAYNW, Payroll Network, Inc., Payroll Solutions, Run Powered by ADP, Trivantus, Trustpoint, UKG Pro, Whirks, Workday	Not checked yet
Investment options	Mixed	Mixed
Our review
Pros	Combines recordkeeping, third-party administration and compliance reporting Supports safe harbor, profit-sharing and Roth contributions, plus participant loans Connects with payroll services including ADP Workforce Now and Rippling	Ascensus manages recordkeeping and plan administration. Includes compliance testing, Form 5500 support and online enrollment. Merrill provides fiduciary services and a target-date QDIA option.
Cons	Standard 401(k) carries a $1,500 annual base fee Both annual plans also charge 0.08% of plan assets for custody Access is web-only	The Group 401(k) charges $5 per participant each month for recordkeeping. Published pricing also combines asset-based fees with plan fees. Contribution processing is through ACH rather than a named payroll integration.
Our verdict	Employee Fiduciary provides retirement plan services for small businesses, self-employed professionals, nonprofits and advisors. Its options include traditional and safe harbor 401(k) plans, solo 401(k) plans and 403(b) plans. The service… Read the review →	Merrill Small Business 401(k) is a cloud-based retirement plan for small businesses, with web and iOS access for employers and employees. It brings plan setup, online enrollment, contribution processing and investment choices into a… Read the review →

Strengths and trade-offs

• Employee Fiduciary — where it wins

  • Combines recordkeeping, third-party administration and compliance reporting
  • Supports safe harbor, profit-sharing and Roth contributions, plus participant loans
  • Connects with payroll services including ADP Workforce Now and Rippling

  Where it doesn't

  • Standard 401(k) carries a $1,500 annual base fee
  • Both annual plans also charge 0.08% of plan assets for custody
  • Access is web-only

• Merrill Small Business 401(k) — where it wins

  • Ascensus manages recordkeeping and plan administration.
  • Includes compliance testing, Form 5500 support and online enrollment.
  • Merrill provides fiduciary services and a target-date QDIA option.

  Where it doesn't

  • The Group 401(k) charges $5 per participant each month for recordkeeping.
  • Published pricing also combines asset-based fees with plan fees.
  • Contribution processing is through ACH rather than a named payroll integration.

• EFEmployee Fiduciary8.4/10 · Paid

  A compliance-focused retirement plan service with clear annual fees and payroll connections.

  Visit siteFull verdict →
• Merrill Small Business 401(k)8.0/10 · Paid

  A focused small-business 401(k) with managed administration and ACH contributions.

  Visit MerrillFull verdict →