A leading provider of modern 401(k) solutions for growing businesses, today announced a redesigned plan sponsor dashboard that centralizes administrative tasks, payroll integration status, action items, and support. The new dynamic homepage surfaces relevant insights for each plan sponsor, personalized to where they are in their journey.
A key new feature is the AI-powered plan benchmarking tool, which reviews plan participation and average contribution rates, and then delivers insights about how that plan compares to national averages. Sponsors can see how their plan is performing and where there may be opportunities to boost engagement and savings behavior, which can ultimately help their employees maximize their retirement benefits. These comparisons are designed to assist sponsors’ ongoing fiduciary responsibility to regularly benchmark plan performance.
“Plan sponsors are being asked to manage increasingly complex retirement programs, often without dedicated internal resources,” said Chelsey Lubin, Vice President of Client Experience at Betterment. “Our redesigned dashboard unifies tasks and showcases AI-powered benchmarking in one place so sponsors can focus on the actions that matter most for their employees’ retirement outcomes.”
The plan benchmarking tool is part of Betterment’s broader enterprise AI strategy to deliver personalization at scale across its platform and follows the recent launch of Betterment’s AI Account Recommender for retail customers.
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