About 82 million U.S. employees — or 54% of the American workforce — are affected by payroll issues. Payroll mistakes occur twice as often in homegrown payroll solutions as compared to third-party solutions, 11.4% vs 6.1% respectively.
Moreover, 49% of workers are said to begin a new job search after only two issues with their paycheck creating costly problems and high turnover rates for employers that do not have strong payroll practices in place.
Today, 401GO, the first company to offer a fully automated 401(k) plan setup process to help people save for the future with affordable and accessible retirement plans, announced multiple payroll integrations with APD, Paychex, iSolved, PayCor, Rippling and Kronos.
Payroll-related errors are costly and largely due to human error. The focus on automation and full integrations at 401GO helps keep costs low, create more efficient plans so that everyone spends less time doing administrative work. 401GO focused on integrating with many of the top payroll providers. 401GO’s goal is to automate 401(k) administration so everyone involved - advisor partners, employer and employees - can focus on what matters to them most.
"401GO is focused on making everything as simple as possible for small businesses to set up and manage their 401(k),” said Nate Beck, co-founder of 401GO. “Our integrations with various payroll providers allow for full automation of the day-to-day management of the 401(k). A full payroll integration reduces the amount of time a small business needs to invest in their 401(k) to about an hour a year."
“Administrative headaches is one of the most common issues small business owners cite for not wanting to start a 401(k),” said Daniel Beck, CEO of 401GO. “By making plans easy to set up, keeping costs low and automating the payroll process, there really is no reason a company of any size couldn’t offer a 401k.”
401GO plans to add another 8-12 integrations over the next three months. 401GO covers any and all integration and API connection costs so its clients don’t have to.
401GO’s vision is to have everyone ready for retirement by offering businesses, startups, entrepreneurs and more 401(k) plans that are accessible, affordable and efficient.
- Accessible – A 401GO plan is simple to set up and administer, putting plans in reach of businesses of all size
- Affordable – Whether you are a company of one or a company of one hundred, 401GO’s pricing is simple to understand and affordable for all
- Efficient – Technology is at the core of 401GO’s platform empowering its users with tailor-made portfolios and automation to keep things simple
With 401GO, users can set up a robust, full-featured 401(k) plan in under 10 minutes.
401GO’s founders -- Jared Porter, Nate Beck and Daniel Beck -- are entrepreneurs and business owners that have managed multiple small businesses. The team understands that most employers know very little about 401(k) plans and are simply looking for a quick, easy to use and affordable solution. While focusing on the needs of a small business, the founders had to rethink everything from nonsensical industry jargon to the processes in place for setting up and administering a 401(k) plan. They coupled their fresh approach with automation and built a fully integrated and intuitive system that does the work typically completed by 3-4 providers. Ultimately, through its efficiency and automation, 401GO saves employers and employees money, time and hassle, giving them the opportunity to save for retirement.
To learn more about 401GO, please visit: https://401go.com/.