by Your PNI•HCM Team on August 21, 2023
PNI•HCM is thrilled to announce the official launch of PNI•Retirement Solutions, a service specifically tailored for small and medium-sized businesses (SMBs) nationwide, with both a SIMPLE IRA and 401k product.
According to recent statistics, nearly 60 million hardworking Americans lack access to retirement plans through their employers, totaling 40% of the labor force. Despite multiple efforts by the federal government to bridge this retirement plan "gap" through legislative measures aimed at reducing barriers and providing incentives for SMBs, the issue persists.
Recognizing the pressing need for a cost-effective and easily managed retirement plan solution, PNI•Retirement Solutions introduces our own SIMPLE PNI•IRA product and separate PNI•401k product powered by Prosper Retirement. These cost-effective solutions offer small and medium-sized businesses a seamless, ready-to-use option that streamlines the setup and upkeep of a SIMPLE IRA or 401k plan. Our hassle-free process and an advanced technology platform fully integrated with isolved HCM sets the stage for unparalleled success in managing your company's retirement plan.
PNI•Retirement Solutions goes beyond the basics. Financial stress is a major concern for 70% of employees. Our diverse range of retirement products and services is designed to assist employers in fulfilling their state-mandated retirement plan obligations while empowering employees to save for their future. This is why we offer comprehensive services, including Retirement Plan Design & Consulting, Investment Education & Advice, Participant Services, and Compliance Support. Our expert team of seasoned professionals ensures that your company's retirement plan is expertly managed, giving you peace of mind while you focus on driving your business forward.
"Every worker should have access to save for retirement, and employers shouldn't be forced to pay for expensive plans or spend months setting them up. PNI•Retirement Solutions was built to serve all American workers, through their employers, by giving them options on the best retirement vehicle. With an IRA and 401k to choose from, we aim to serve our clients whether they are building a retirement plan for the first time or have an existing one but desire integration, ease of use, and low service fees,” said Mary Grothe, Chief Revenue Officer at PNI•HCM. “Half of Americans have no retirement savings, and most retired people between the ages of 60-70 have an average of $114,000. This has put an incredible strain on our society and the children and family members of those looking to retire.
PNI•HCM is providing qualified alternatives to the state-mandated plans and getting ahead of the need for employers whose state has not yet required them to have a plan. Together, we can create the experience your employees deserve by opening the door for retirement planning, regardless of the size of your company or industry."
"We are committed to helping employers across the country provide their employees with personalized retirement planning options that include easy-to-use tools, secure and seamless financial data integration, and competitive service fees," said Kathy Klenner, President at PNI•HCM. "Securely providing comprehensive support for retirement savings beyond the state-mandated Auto-IRAs is absolutely essential in today's world."
For more information about PNI•Retirement Solutions and how our new service can benefit your business, please visit pnihcm.com/pni-retirement-solutions.
PNI•HCM is an award-winning provider of Human Capital Management (HCM) and HR-related software, best-in-industry partnerships, and unmatched customer support that is committed to creating the experience employees deserve. Our solutions are tailored to each client's unique needs, covering everything from HR advisory support to payroll processing, talent acquisition, benefits administration, timekeeping, and more. With a single login, we'll help you manage your business people operations from recruitment to retirement.
If you're looking to simplify your business operations, our experienced team can help. Visit our website to learn more about the exceptional breadth of services we offer.