It takes two to tango – or at least tango without messing up employee deferrals and investment elections!
If you look at the makeup of the ForUsAll employee team, you’ll see that a large percent of our team came from two companies: Financial Engines and Zenefits. The former is the largest registered investment advisor in the US, and provides 401(k) advice to Fortune 500 companies. Zenefits is one of the largest HR Software companies, focusing on connecting human resource systems and automating HR tasks.
Merging 401(k) management experience with HR automation expertise
401(k)s are surprisingly complicated benefits to administer. Business executives in charge of their company’s defined contribution plans are often surprised that various aspects of this benefit are regulated by the Department of Labor (DOL), the IRS and the SEC. That’s a lot of governmental oversight! And correct 401(k) administration requires careful attention to payroll systems, recordkeeping systems, plan documentation and more. It’s no wonder that nearly 75% of 401(k) plans audited by the DOL were either fined, received penalties or had to make reimbursements for errors.
Our founders realized that helping small and middle market businesses safely manage their retirement benefits required an intense focus on:
- Designing the employer and employee experience for success – retirement success and administration ease
- Connecting systems and focusing on data cleanliness – when we connect our clients’ payroll software to their recordkeeping systems, data integrity is key to ensuring a correct execution
- Reducing administrative burdens through automation – compliance testing and other traditionally manual tasks can be automated once systems are connected
- Lower fees – the retirement industry has been over charging employees for years with over-priced, actively managed funds, but the time has come for low-cost, passive funds.
Ready to change an industry and help solve America’s retirement crisis?
American’s retirement system is underfunded by $6 trillion. Small and mid-sized businesses are overcharged and underserved by the retirement industry incumbents. If you are ready to take on an established industry and help change the world for the better, visit our career page and apply for one of our open positions!
Open ForUsAll positions as of February 9th, 2017
We’ve got a number of exciting open positions as of February 2017 – here are a few!
Full Stack Developer – Do you get annoyed by the traditional financial services experience? Are you looking for a breakout moment to define your engineering career? If so, we want to talk to you. Plus, you’ll get to work with Jason Chen, an experienced software developer who also ran development teams at Zenefits.
Product Operations Analyst – Ready to be responsible for the day-to-day blocking and tackling required to administer our customers’ plans and payrolls? You’ll be ensuring the integrity and sound administration of plans by using our software to keep clients’ data up to date and correct. In this role you’ll gain a unique insight into ForUsAll as well as the ins and outs of the retirement industry. You’ll also get to play a role in refining our internal processes and bringing the ForUsAll vision to life. And you’ll get to work with Tatiana Louneva, who managed operations teams at Zenefits.
Sales Development Representative (or Retirement Associate) – Looking to develop your sales skills and speak with executives from hundreds of companies? You’ll help executives understand the how much better their retirment plan could be with ForUsAll, and you’ll recieve intense sales and 401(k) training from an experienced team, including ForUsAll’s Chief Investment Officer, David Ramirez, who helped manage $50 billion in retirement plan assets while at Financial Engines.