Betterment 401(k) has partnered with Bennie, an employee benefits brokerage platform, to help employers offer their workers an integrated platform to control their retirement plan and other benefits, the company announced on Tuesday.
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“Despite the many challenges that businesses have faced over the past year, the one thing that has not changed is employers’ desire to ensure that their hardworking employees are financially well. That starts by being able to offer a great benefits package,” Kristen Carlisle, General Manager of Betterment 401(k), said in a statement. “By partnering with leading platforms like Bennie, we can support those businesses by making high-quality retirement plans and employee benefits available and accessible to all.”
Bennie’s employer members will be able to offer Betterments 401(k) plan and financial wellness tools to their workers, according to a press release. Bennie was launched in 2019 to provide mid-sized companies with health insurance benefits through a tech-based platform and app, along with HR technology consulting and support. The company also pledges 1% of its equity to community organizations health-related causes.
“Betterment’s 401(k) has an impressive suite of financial tools that complements Bennie’s focus,” Matt Straz, founder and CEO at Bennie, said. “We are committed to providing our customers and their employees with the most innovative benefit solutions and Betterment is a leader in financial wellness programs. We are very excited to be working with the team at Betterment 401(k).”
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In March, Betterment 401(k) announced that it was integrating with another employee benefits platform, Zenefits, to expand access to retirement planning and financial wellness tools for small and medium-sized businesses. Betterment currently serves over 500,000 customers and has $22 billion under management.
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Danielle Andrus works as an editor for The Financial Planning Association® (FPA®). Over the past 15 years, she has worked in various capacities, including writing and editing. Andrus has worked for several notable publications and outlets and spent more than seven years as the executive managing editor at ALM Media, publisher of Investment Advisor magazine and ThinkAdvisor.com. Before that, she was online editor for Summit Professional Networks, where she oversaw newsletter development for four magazines, including Benefits Selling, Senior Market Advisor, Boomer Market Advisor, and Bank Advisor.
