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What is Ubiquity Retirement + Savings?

A 401(k) is a retirement savings program established by employers or self-employed individuals to help employees and business owners build a nest egg for retirement, all while taking advantage of various tax benefits. This savings vehicle is tailored to accommodate multiple retirement planning preferences, providing participants with the freedom to manage their contributions flexibly. Workers can choose what percentage of their paycheck to funnel into their 401(k) accounts each pay period, and these contributions are made before taxes are deducted, which allows for growth potential without immediate tax consequences. Many employers further enhance this savings strategy by offering to match a portion of the employee contributions, which can notably boost the accumulation of retirement savings. Aside from promoting future financial security, enrolling in a 401(k) provides unique tax advantages for both employees and employers, including tax deductions and tax-deferred growth on investment earnings. For example, when employees contribute to their 401(k), these amounts reduce their gross income before taxes are applied, effectively decreasing their taxable income for that year. This combination of retirement savings and tax optimization makes the 401(k) an attractive choice for countless individuals and businesses. Ultimately, it serves as a crucial tool for fostering long-term financial health and encouraging proactive retirement planning.

What is Benefitbay?

Benefitbay has launched a groundbreaking benefit solution known as ICHRA, which allows employers to reimburse employees for their individual health insurance plans while still reaping the tax advantages that come with group insurance. This system empowers employees to select benefits that best meet their personal needs and preferences. Our platform prioritizes essential ICHRA functionalities, focusing on user-friendliness, adherence to regulations, effortless implementation, cost efficiency, and robust support. Employers have the flexibility to classify their workforce into different categories based on factors such as location, job type, and age. Once they set a budget, they can strategically assign specific contributions to each group. Employees will appreciate a simplified shopping and enrollment experience, enabling them to choose from any individual plan available in their region, whether it is part of the exchange or not. Additionally, Advanced Reimbursement Accounts (ARC) are put in place to ensure automatic monthly payments for premiums, and pre-tax payroll deductions are implemented for off-exchange plans, enabling the efficient generation of all necessary plan documentation. This holistic strategy not only simplifies the benefits administration process but also significantly boosts employee satisfaction by providing tailored options that cater to individual needs. As a result, organizations can foster a more engaged and content workforce, ultimately leading to improved employee retention.

Media

Media

Integrations Supported

Check Point IPS
Check Point Infinity
EmCentrix
Gusto
Paychex Flex
Paylocity
Rippling
SecureW2

Integrations Supported

Check Point IPS
Check Point Infinity
EmCentrix
Gusto
Paychex Flex
Paylocity
Rippling
SecureW2

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Ubiquity Retirement + Savings

Date Founded

1999

Company Location

United States

Company Website

www.myubiquity.com/401k/

Company Facts

Organization Name

Benefitbay

Date Founded

2013

Company Location

United States

Company Website

www.benefitbay.com

Categories and Features

Categories and Features

Benefits Administration

COBRA Administration
Claims Management
Deduction Management
Disability Insurance Administration
Employee Benefits Administration
FMLA Administration
FSA Administration
Flexible Spending Accounts
For Brokers
For Employers
HIPAA Compliant
Health Insurance Administration
Life Insurance Administration
Online Benefits Enrollment
Premium Billing
Provider Management
Retiree Administration
Retirement Plan Management

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