Betterment at Work is a leading provider of financial wellness solutions - including 401k plans - to small to medium-sized businesses.
Comprehensive Data + Insights
Student loans are a primary reason why Americans don’t save enough for retirement. Moreover, student debt is a top contributor toward financial stress and employee turnover. Betterment sought to address these critical issues and needed a solution that could reliably sync student loan data, including monthly payments, repayment plans, and loan types. They needed to integrate complicated and confusing student loans into their intuitive user experience that simplifies financial understanding and decisions.
Additionally, given the CARES Act and pending Secure 2.0 legislation, Betterment wanted their solution to help employers take advantage of the tax benefits associated with both.
Betterment used Spinwheel’s best-in-class data and unique precision pay solutions with their roboadvising platform to put employer and employee student loan contributions on auto pilot – all tied to Betterment’s 401k platform. Benefits to Betterment’s customers include: