However, if you don’t need all of bambooHR’s other HR tools, and you’re only seeking something to help with retirement benefits and 401(k) account tracking, bambooHR’s features may be a bit much for you to use.įor administrators, this software’s ability to generate a variety of reports is one of its best features, so you can see exactly how things stand with the progress of the retirement packages. With bambooHR, you’ll receive a multitude of tools you can use to help your employees fully track and understand their benefits, including retirement benefits. Core: $6 per month per employee (plus $39 per month base price).
Complete: $12 per month per employee (plus $39 per month base price).Concierge: $12 per month per employee (plus $149 per month base price).NOTE: You must add a 401(k) tracking feature to other plans for $8 per participating employee and a $39 per month base price.Adding retirement benefit plan tracking requires an extra fee.The base fee per month on top of the per employee cost increases the price too quickly for smaller organizations.Even though 401(k) tracking tool feels tacked on, it has some impressive features.Employees are able to track their own retirement benefits through the mobile app.For administrators, the 401(k) tracking tool syncs closely with Gusto’s payroll management features, which is a time saving benefit.
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Gusto’s 401(k) features will give employees quite a few advantages, including advice on how to invest and on how to maximize their retirement account.
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Because of this, even though the 401(k) tracking features work nicely, they feel tacked on to the main Gusto software package, which will be disappointing for those who are primarily seeking a retirement benefits tracking capability above all else. Instead, 401(k) benefits and contributions are part of an add-on feature for Gusto. However, this software does not treat retirement benefits tracking as its primary feature.
If you are seeking an ability to track retirement benefits for your employees as part of a solid overall HR software package, Gusto will be a popular selection. Regardless of the size of your organization, you can make the process of monitoring employee benefits easy for your workers with the 7 best employee retirement plans software packages. So what they want is an employee benefits package that they don’t have to manage on a regular basis, but where they can easily track progress whenever desired. When it comes to the types of benefits that are most important to employees, retirement benefits typically don’t receive the respect they deserve.Īfter all, retirement benefits may not be of immediate concern to employees early on or in the middle of their working lives and careers.
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