Bay Area FinTech Startup EvoShare Announces Its First Full Integration with a 401(k) Recordkeeper to Streamline Retirement Contributions Through Cash-Back Earnings
EvoShare is the premiere cash-back retirement savings program that is giving employees a new, automated way to save for their 401(k).
BERKELEY, Calif., March 12, 2019 /PRNewswire-PRWeb/ -- EvoShare, a microsavings oriented FinTech startup based in Berkeley, California is proud to announce a partnership with Money Intelligence, an innovative, 401(k) platform located in Santa Clara, California that is solving America's retirement problem by making it hassle-free and inexpensive for every business in America to offer a Fortune 500 quality retirement plan.
EvoShare is the premiere cash-back retirement savings program that is giving employees a new, automated way to save for their 401(k). EvoShare provides employees with a "set it and forget it" experience where plan participants can spend as usual at over 10,000 participating businesses and receive up to 20% cash back toward a financial account; 401(k) or 403(b) plan, student loan, and 529 plan.
EvoShare aims to serve thousands of plan participants on the Money Intelligence platform. Money Intelligence's innovative capabilities to automate 401(k) administration will create a unified experience that will allow participants to seamlessly apply their cash-back dollars toward their 401(k) plan. Thanks to Money Intelligence's 401(k) administration capabilities, EvoShare will be able to fully automate retirement plan contributions based on cash-back earnings.
"We know that employers want to avoid additional workload when it comes employee benefits," said Eugeny Prudchyenko, CEO of EvoShare. "From now on, plan sponsors that are clients of Money Intelligence won't have to do anything in order to offer EvoShare to plan participants."
Money Intelligence is the first 401(k) provider to embrace EvoShare and help pioneer a new way for every American to save for a 401(k) plan. This partnership will empower small businesses to offer a one-of-a-kind benefit to employees. Money Intelligence views this partnership a great stride toward solving America's retirement crisis by helping every American to save for their retirement regardless of their financial position.
"The retirement industry has been notorious for making it difficult for Americans to reach a secure retirement by offering burdensome 401(k) plans with high fees ," said Monte Malhotra, CEO of Money Intelligence, "Our partnership with EvoShare is solving America's retirement problem and makes it worthwhile for every business in America to offer a 401(k) plan and allows every American to save for their retirement regardless of their financial situation."
This alliance has the potential to change the way employers and employees view and experience 401(k) plans. Money Intelligence and EvoShare will go beyond the current paycheck-to-paycheck experience of a 401(k) plan and help every American boost their retirement savings.
SOURCE EvoShare
