Companies need to create retirement plans for their employees who have been loyal to their company for so long. With 401(k) software, companies are assisted on how to curate retirement plans based on the performance and attendance of their employees which can bring effective results. Here is some of the best 401(k) software available right now.

401(k) Software

5+ 401(k) Software

1. Human Interest

human interest

Details

Rating: 5/5

Price: $120/month

Download

2. Guideline

guideline

Details

Rating: 4.7/5

Price: $49/month

Download

3. 401GO

401go

Details

Rating: 4.9/5

Price: $9/month

Download

4. ForUsAll

forusall

Details

Rating: 5/5

Price: $120/month

Download

5. Betterment

betterment

Details

Rating: 5/5

Price: Custom

Download

6. Ubiquity Retirement

ubiquity retirement

Details

Rating: 5/5

Price: Custom

Download

What Is 401(k) Software?

401(k) software is an insurance software where companies help and provide retirement plans and benefits to their employees who are reaching retirement age soon. This 401k recordkeeping software enables companies to create retirement plans as well as select their investment methods based on their employees’ performance from the start of employment in the company.

Benefits

401(k) software helps companies to manage their employees’ retirement plans as soon as possible as these employees may reach an age where they are not physically capable of performing any work duties anymore while still giving them benefits for their hard work and loyalty. The 401k administration software also helps companies comply with regulation laws regarding retirement. The software also helps determine the employees’ retirement plan based on their job performance and how much they contribute during their employment in a centralized administrative dashboard. By measuring these factors, employees would most likely get a good retirement plan because of these factors. The software also helps employees to clear any financial dues given to them such as paying loans as well as joining the investment pool as well. The software also helps employees to keep track of their donations and work performance and contribute a part of their salary towards curating their plan.

Features

401(k) software should provide onboarding software tools that allow new employees to learn about investment and the world of 401(k). The 401k plan administration software should also provide tools to help companies form their employees’ retirement plans. The 401k tracking software should provide employee monitoring software tools that allow them to analyze their employees’ performance during their time in the company. The software also allows employees and other users to contribute money to their retirement plans. The software should also provide tools that allow users to check their 401(k) balance. The software should also allow customers to check and change their investments depending on if possible. The software should also assist companies with their compliance management software tools that help them comply with regulation laws related to retirement such as preparing taxpayers’ documents for the employees.

  • Onboarding tools for new employees
  • Form employees’ retirement plans
  • Employee monitoring tools
  • Contribute money or funds for their retirement plan
  • Check balance
  • Change investments
  • Compliance management tools

Top 6 401(k) Software

1. ForUsAll

ForUsAll provides companies various ways to compensate their employees’ retirement funds including integration with cryptocurrency remittance. ForUsAll has 57 employees and earns annual revenue of $12 million.

2. Betterment

Betterment enables users to make their investments better with tools that help them improve their investing strategies. Betterment has 393 employees and earns annual revenue of $51.1 million.

3. Human Interest

Human Interest is catered for small and medium businesses that help them to compensate their employees for retirement in an affordable and easy-to-use software. Human Interest has 381 employees and earns annual revenue of $49.5 million.

4. Guideline

The guideline provides simple and affordable retirement software to small businesses that help them to fairly compensate their employees for retirement. The guideline has 227 employees and earns annual revenue of $29.5 million.

5. Ubiquity Retirement

Ubiquity Retirement helps small businesses to create 401(k) plans with its affordable software that helps compensate their employees well for retirement. Ubiquity has 122 employees and earns annual revenue of $21 million.

6. 401GO

401GO helps small businesses to manage their retirement plans with ease in its cost-effective software. 401GO has around 25 employees and earns a revenue of $6 million.

FAQ

Who would be most likely to use and benefit from using 401(k) software?

Small businesses would be most likely to use and benefit from using 401(k) software as it allows them to build retirement plans for their employees. The small size of these businesses makes it easier for them to create retirement plans with fewer logistical challenges along the way. Finance, accounting, and HR departments of these businesses would also most likely use this software to build retirement plans for their employees as they can encourage their employees to work hard to ensure they get the best out of their plans based on their work performance and attendance.

What other software integrates with 401(k) software?

401(k) software integrates well with payroll software which can help them reduce the manual process of contributing funds for each payroll cycle. The software also integrates with compliance management software and tax software as they provide compliance capabilities that make their curation of retirement plans legal and compliant with existing laws on retirement benefits.

How much does 401(k) software cost?

Pricing for 401(k) software can range from $9 per month to $120 per month, with some software offering custom pricing available. Pricing for 401(k) software varies depending on the features available and the intended companies. Small companies may benefit from low-cost 401(k) software while large companies may benefit from high-cost software.

Related Posts