PensionOnline Announces 401k Rewards
Gift Cards and Airline Miles Used to Motivate Employees to Save for Retirement
SAN FRANCISCO, CA, November 1, 2005 -- PensionOnline, Inc. a leading provider of innovative technology products for the pension industry, today announced its latest offering, the 401k Rewards program. This newest addition is aimed at motivating employees to invest in their retirement future and rewarding them for doing so.
Surveys indicate that many eligible employees do not participate in company sponsored retirement plans. In addition, numerous participants are not contributing enough to their 401k plans. Plan sponsors have long struggled with motivating their employees to think about their retirement years using education and advice but never an incentive program.
"The 401k Rewards program is available because lots of individuals need an incentive to take action. Now they can invest for their retirement future and receive something in return beforehand. We are addressing both the near and long terms aspects of retirement investing," stated Marco Brown, Pensiononline president.
Pensiononline created and hosts the technology required to drive the 401k Rewards offering. The program is introduced to employees by their plan advisor, service provider, or sponsor. Once employees have signed up, points are credited to their accounts every month through the 401k Rewards web site.
Participants can cash out their points 30 days after they are credited. Gift card rewards are mailed to participants. Air travel rewards are credited to participants' rewards accounts with specific airlines.
401k Rewards is a web based product that can be private labeled. More information is available at www.401krewards.com.
About PensionOnline
PensionOnline has established itself as the leader in Internet technology and software applications for the pension industry. The company introduced the first suite of Web-based proposal and management systems for defined contribution plans nearly five years ago. Founded in 1985, its clients include retirement service providers, TPA's, and advisors.
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