SAN FRANCISCO--(The Online 401(k) is taking to the streets and is asking their clients to spread the word. Not only will referrers become part of helping America save, but The Online 401(k) will award $200 for every successful plan opened.)--As part of its efforts to solve the looming retirement crisis for small businesses,
“Small businesses are the least likely to offer a 401(k) plan to their employees, even though small businesses are the backbone of America”
Studies show that 92 percent of small businesses with between two and 20 employees do not offer any type of retirement savings plan to their employees. What better way to combat a looming retirement crisis than to start talking about it today?
The Online 401(k) is hoping the new referral program, accessible by visiting http://www2.theonline401k.com/ask/, will be an incentive for concerned citizens to direct their friends and family that work for small businesses to an affordable, easy-to-use retirement plan.
“Small businesses are the least likely to offer a 401(k) plan to their employees, even though small businesses are the backbone of America,” says Chad Parks, CEO and founder of The Online 401(k). “By offering this program, we hope more small businesses will realize there are plans out there designed for them and their employees. Combined with the fact that the government wants to pay us to save, we hope the light bulb will go off.”
To wit, The Online 401(k) offers a wide variety of 401(k) plans built specifically for small businesses. The firm’s plans are web-based, easy to use and flat-fee making them ideal for the busy business owner.
The company offers four retirement plan options:
- Single(k): Designed for a single proprietor business, the Single(k) allows a maximum investment potential of up to $50,000 per individual.
- Starter(k): It’s a plan for those without a plan, and serves businesses that have between one and 100 employees. It allows for a maximum savings potential of up to $5,000 per year or $6,000 for employees who are 50 or older.
- Express(k): We call this the 401(k) fast lane, and it’s a low-cost 401(k) for a business with up to 50 employees. There is a maximum investment potential of up to $50,000 per individual.
- Custom(k): Designed for a business with up to 50 employees, this plan is created uniquely for your business and features flexible options to build the plan. There is a maximum investment potential of up to $50,000 per business.
The referral program is not limited to employees or current customers – it is applicable to everyone who refers a business to the firm that eventually results in an opened plan. For every company that begins saving, the referrer will receive $200, and the satisfaction of knowing they have helped make a difference, even if it is one small business at a time. The program comes on the heels of the company’s cross-country road trip in 2012 to publicize the lack of retirement savings in America that will eventually be turned into a documentary called Broken Eggs Film: The Looming Retirement Crisis in America.
“Our goal is to make 401(k)s available to the masses by offering a flat-fee, web-based plan that takes 10 minutes to institute and less than an hour a month to maintain,” Parks explains. “By instituting the referral incentive, we are hoping to debunk common myths about retirement plans and help Americans at businesses of all sizes effectively save for their retirement.”
For more information, email firstname.lastname@example.org.
About The Online 401(k)
The Online 401(k) is a web-based provider of affordable, no-hidden fee retirement plans for small businesses. Since the company launched in 1999, The Online 401(k) has remained completely transparent on fees. Today, the company, headquartered in San Francisco, works with approximately 6,000 small businesses nationwide.