Major networks continue to cover how modern, tech-friendly 401(k) providers are squarely meeting the demand for low-cost, low-headache 401(k) plans.
CNBC Nightly Business News’ featuring top personal finance reporter Sharon Epperson discussed new players in the market and why employers were responding so favorably.
ForUsAll was on Epperson’s list of low-cost 401(k) providers who are “shaking up the 401(k) market” and changing the small business retirement plan landscape.
CNBC Nightly Business Report featuring ForUsAll
Epperson explained how the small business market is underserved by traditional 401(k) providers, saying, “this is a huge untapped market… that’s about 42 million people… only 14% of these small businesses actually sponsor retirement plans… so many workers who don’t have access to plans but need it.”
She concluded that the reason why a recent Brightscope study found companies were paying lower fees than before is “it’s those financial technology companies that are really being disruptive right now.”
We love it when host Tyler Mathisen says, while they are talking about the financial technology companies like ForUsAll, that “they are making it affordable to the employer.” So true!
Epperson leaves viewers with a handy list to evaluate one of the new, low-cost 401(k) providers:
- Look beyond the lower fees – what else are they providing? Is there financial education and will you received this from a certified license advisor?
- Look at the company’s track record and ask for referrals.
- Check the company’s funding.
We definitely agree with Sharon’s list, and are proud to satisfy her three additional points as a 401(k) provider to small businesses. Watch the report, we hope that you’ll agree with her, financial technology companies are changing the 401(k) market for the better!