Icon Savings Plan

Icon Savings Plan, established in 2018, offers a financial technology platform designed to streamline retirement benefits for the modern workforce. The company was co-founded by CEO Laurie Rowley and CTO Sasha Mace. Rowley's background is rooted in improving financial security, including founding a non-profit in 2013 focused on retirement savers and co-founding a design and innovation lab, with expertise in behavioral finance. Mace brings product and engineering management experience, notably as the former VP of Engineering at Simple Bank.

The firm's core offering is the Portable Retirement Plan (PRP), an alternative to traditional 401(k) plans. This service targets businesses of all sizes, from small and midsize companies to large corporations, as well as self-employed individuals and independent contractors. The platform is engineered to remove the administrative complexity, regulatory burdens, and fiduciary risks often associated with employer-sponsored retirement plans. For employers, this means no ongoing administration, federal filings, or complex compliance work, with setup completed in minutes. For employees, including both W-2 and 1099 workers, the PRP provides a personalized, managed portfolio using low-cost ETFs that is fully portable between jobs, eliminating the need for rollovers.

Icon's business model centers on a 'Retirement-as-a-Service' approach. While employers can set up a plan for free, employees pay a low, flat monthly fee for the service. The company has successfully raised $12.4 million in funding over two seed rounds to support its growth and platform development. This capital is crucial for operating within the highly regulated retirement industry and for expanding its engineering team. By integrating workplace and personal savings, Icon aims to address the significant gap in retirement plan access for millions of American workers. Keywords: portable retirement plan, PRP, 401k alternative, retirement benefits, financial technology, fintech, retirement savings, employee benefits, defined contribution, workplace savings, investment platform, financial wellness, retirement-as-a-service, portable benefits, 1099 retirement, small business retirement, Laurie Rowley, Sasha Mace, simplified retirement, automated investing, low-cost ETFs, fiduciary services, employee financial security, contractor retirement plan