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26 Oct 2022

Ubiquity Retirement + Savings® Ranked #1 Small/Medium Size 401(k) Provider on Google Reviews, Trustpilot, and BBB

SAN FRANCISCO, October 26, 2022–(BUSINESS WIRE)–Ubiquity Retirement + Savings® (Ubiquity), a financial technology pioneer in flat-fee small business retirement plans, is number one in customer satisfaction among small business retirement plan providers1, according to Google Reviews2.

With 4.3/5 stars and hundreds of reviews, Ubiquity outranks the competition. Google Reviews is one of the most highly trusted, used, viewed, and recognized resource consumers rely on for help in making decisions about where to spend their money. These reviews are written by real customers whose enthusiasm for Ubiquity is contagious.

Here is a sample of the independent reviews:

  • Five-Star Review: “Zsanine Basil-Janyzen provided me with very courteous and informative assistance regarding my RMD related inquiries.” —James Kesaris
  • Five-Star Review: “Choosing a partner to outsource your company 401(k) to is a big decision. That said, I am not sure how this could have been easier/better. Like many CEOs, I wear multiple hats. This was a task I felt I needed to handle myself rather than delegate, but had limited time and bandwidth to fully commit to.” —John Breining
  • Five-Star Review: “I always have a great experience with each interaction I have with a representative at Ubiquity. I’ve always had my questions answered thoroughly, and the reps are professional and eager to help.” —Brandie Collis

These ratings and reviews on Google affirm Ubiquity’s strategy to advocate for customers and ensure they get the best value. This recognition by Ubiquity’s customer base has led to outstanding success and strong growth in 2022.

“We are thrilled to see that our efforts and hard work by our teams resonates with Ubiquity customers. We truly appreciate our customers taking the time to leave us great feedback on Google reviews — the most recognized user review platform in the USA,” said Ubiquity CEO + Founder Chad Parks.

In addition to being the top ranked 401(k) provider to small and medium sized businesses on Google, Ubiquity is proud to announce that it is the #1 ranked 401(k) provider to small and medium sized businesses on Trustpilot, one of the most trusted tech platforms for reviews in the world.

And finally, Ubiquity Retirement + Savings is thrilled to announce it is also the #1 ranked 401(k) provider for small and medium-sized businesses at the Better Business Bureau (BBB). The BBB is the household-name company that has been around for over 100 years helping people find businesses, charities, and associations that are reputable and trustworthy. Ubiquity has an industry-leading 4.5/5 stars at BBB.

“We’re humbled to be recognized on Trustpilot and by the Better Business Bureau, which prove our team’s tireless efforts are paying off and exceeding customer expectations. Our clients have trusted us for over 23 years to provide them transparent, flat-fee pricing, which means they’re not getting ripped off, and our white-glove customer service helps them get set up and saving quickly and painlessly,” concluded Parks.

About Ubiquity Retirement + Savings

Since launching Ubiquity Retirement + Savings in 1999, the company’s driving force has been to provide qualified retirement plans that meet the needs of small business owners. Our mission is to empower small businesses and their employees to create a more secure financial future by leveraging technology with affordable retirement solutions and world-class customer support.

Ubiquity is a leading fintech company that sits at the crossroads of HCM, SaaS, and robo-recordkeeping. As one of the first flat-fee-for-service small business plan providers in the nation, Ubiquity delivers peace of mind with zero hidden fees. The company is headquartered in San Francisco with satellite offices from coast to coast. Ubiquity exclusively serves over 10,000 American small businesses and hundreds of thousands of savers. With over $3 billion in retirement assets, Ubiquity has clients in all 50 states, delivering a transparent, flat-fee, customizable savings experience. Our tenured team are retirement experts and future-you champions!

 

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1 An evaluation has been conducted by Decimal, Inc. through its research of independent customer reviews on Google, Trustpilot, and the Better Business Bureau as reported by unaffiliated contributors on or before September 30, 2022, for four similar small-business 401(k) providers in the marketplace.
2 Google ratings are based on independent client reviews of Ubiquity Retirement + Savings products and services. Details on the methodology Google employs to calculate ratings can be found here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005639/en/

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15 Nov 2022
Ubiquity Retirement + Savings® Hits New Record for 401(k) Plan Sales Amid a Year of Workforce Changes

SAN FRANCISCO — November 15, 2022 — Ubiquity Retirement + Savings (Ubiquity), a financial technology pioneer in flat-fee small business retirement plans, broke its record for new 401(k) plan sales faster than its most aggressive forecasts had projected. The firm anticipates exceeding additional records by year-end, including record-breaking number of plan participants, plan sponsors, TPAs, and financial advisor relationships.

New 401(k) plan sales at Ubiquity have been strong since its inception in 1999. As the workforce undergoes a seismic shift with an average of 4 million employees switching jobs each month from January to March 2022, businesses are placing a greater emphasis on holistic benefits packages that support and retain employees as well as withstand industry competition.

Ubiquity remains dedicated to supporting plan sponsors, participants, TPAs, and financial advisors amid the Great Resignation by pivoting to address new opportunities in the workplace.

“We had a banner year as small business owners across industries such as professional services, benefit and insurance agents, retirement and wealth management advisors, payroll firms, credit unions, law firms, healthcare doctors, dentists and other gig workers increasingly responded to the need for competitive retirement plan offerings that differentiate them amid the great talent war,” said Chad Parks, Founder and CEO of Ubiquity. “We are honored to serve as a trusted partner for small business owners and to provide security for themselves and their employees,” said Parks. “We are proud of the progress we have made, especially in the areas of partnerships and Single(k) sales, and look forward to continuing to invest in these priorities.”

Business Highlights:

Ubiquity is poised for more record growth, and the company is building a strong foundation with the following key new hires:

  • CFO
  • CRO
  • SVP, Head of Marketing
  • Director, Partner Marketing
  • Additional Customer Service Support Team Members

“We have generated exciting growth in both our partnership business and client categories, and achieved this by executing our long-term strategies, actively responding to changing client needs, and aggressively seeking new opportunities,” said Michael Bisset, VP, Business Growth. “As we finish out 2022, we will continue to focus on expansion, performance, and supporting our amazing team,” said Bissett.

With an increased investment in partnerships, Ubiquity is opening its doors wider to support firms in need of small-to-medium size retirement plan providers.

“It’s been amazing to be part of this expansion of new business,” said John Farmakis, SVP of Business Development. “For too long, small and medium-size business 401(k) needs were underserved. Now, our white-glove customer service keeps all our clients satisfied, and I could not be more excited about our future.”

About Ubiquity Retirement + Savings

Since launching Ubiquity Retirement + Savings in 1999, the company’s driving force has been to provide qualified retirement plans that meet the needs of small business owners. Our mission is to empower small businesses and their employees to create a more secure financial future by leveraging technology with affordable retirement solutions and world-class customer support.

Ubiquity is a leading fintech company that is one of the first flat-fee-for-service small business plan providers in the nation. With our exclusive, best-in-class Paradigm RKS™ cloud-based platform that automates recordkeeping and plan management functions, we’re able to deliver an easy-to-use experience and peace of mind with zero hidden fees. The company is headquartered in San Francisco with satellite offices from coast to coast. Ubiquity serves over 10,000 American small businesses and hundreds of thousands of savers. With over $3 billion in retirement assets, Ubiquity has clients in all 50 states and delivers a transparent, flat-fee, customizable savings experience. Our tenured team are retirement experts and future-you champions!

 

Visit myubiquity.com to learn more.

 

Media Contact:

Gregory FCA for Ubiquity Retirement + Savings

Jenna Silverblatt, 610-428-3296

Ubiquity@gregoryfca.com

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8 Nov 2022
TheStreet: Saver’s Credit: How a SECURE Act 1.0 Provision & 2.0 Proposal Impacts Retirement Benefits

by Chad Parks for TheStreet, November 8, 2022

In December 2019, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was passed, marking a historical step in the right direction for Americans dreaming of a fairytale retirement. The bill covered a lot of ground with key provisions aimed at increasing access to workplace retirement plans and stopping older generations from outliving their savings. One major provision of the bill that’s often overlooked by the average individual is the Saver’s Credit.

The Saver’s Credit

This is a tax credit for low- and middle-income individuals and families that provides incentives for retirement contributions. To be eligible for the credit, an individual must not be claimed as a dependent, not be a student, and must be 18+ years old. Savers within those parameters can receive up to 50% of their eligible retirement plan contributions each year of up to $2,000 per individual, or $4,000 for those married-filing-jointly, making the maximum tax credit available $1,000 per individual or $2,000 for those married-filing-jointly.

As it stands, as a saver’s income grows, the size of the credit they’re eligible for shrinks to 20% or 10% of their contributions, depending on their adjusted gross income (AGI). In 2022, single filers’ AGI must fall below $34,000, and for married-filing-jointly, the AGI must be below $68,000.

This provision in the SECURE Act is a momentous step in the right direction toward solving America’s looming retirement crisis — defined as the crumbling three-legged stool of underfunded pension plans, historically low personal savings, and the Social Security surplus reserves running dry. Now more than ever, individuals’ retirement futures fall squarely on their ability to save enough money to support themselves, which is getting increasingly harder to do with progressively longer life expectancies.

By expanding Americans’ saving power with the SECURE Act’s Saver’s Credit, we’re one step closer to helping everyone reach their retirement goals, though it isn’t an end-all solution to the problem.

SECURE Act 2.0

In October 2020, the House Ways and Means Committee proposed an extension of the SECURE Act with the Securing a Strong Retirement Act, dubbed SECURE Act 2.0. Where it currently stands, the bill has been signed into law by both the House of Representatives and the Senate, and is making its way to the Executive Branch in the coming months.

Among many important proposals is an extension to the Saver’s Credit that helps generate even more money back to individuals contributing to their retirement plans, further incentivizing participation. Under SECURE Act 2.0, the credit is fixed at 50% for all eligible savers, instead of declining as income increases. Further, the qualifying income cutoff is expanded — single filers eligible AGI increases to $41,500 or less, and joint filers AGI increases to $83,000 or less, starting after the 2026 tax year.

Why now?

Expanding access to individuals eligible for the credit is another monumental step in solving the looming retirement crisis and is one of many provisions aimed toward increasing retirement savings access across the country — But why is the government finally stepping in and taking action against retirement insecurity?

One major factor at hand is the influx of Americans reaching retirement age. It’s estimated that 76 million baby boomers will retire in the coming years, if they haven’t already, meaning more individuals will rely on underfunded pensions, low personal savings, and a depleted Social Security system.

America is facing a scary reality of retirement insecurity, forcing the government to get involved at the federal level with bills like SECURE Act and SECURE Act 2.0, as well as at the state level with the rollout of state-mandated retirement plans picking up steam across the country.

Other notable proposed provisions

Aside from the Saver’s Credit, SECURE Act 2.0 has a number of proposals that increase access to retirement vehicles for individuals, including:

  • Retirement plans startup costs tax credit: Currently, eligible employers can receive a tax credit of up to 50% of retirement plan startup costs, up to $5,000, for three years. SECURE Act 2.0 proposes to double the tax credit with 100% of startup costs covered to further take the burden off small business owners and encourage more workplace retirement plan access.
  • Increased auto-enrollment: SECURE Act 2.0 proposes all employers auto-enroll new employees into their standing 401(k) and 403(b) plans at a 3% contribution rate, which increases 1% annually until it hits a 10% contribution rate unless employees opt out. The reason being, employees are more likely to participate if the work is automatically done for them.
  • Delayed required minimum distributions (RMDs): The 2019 SECURE Act delayed the starting RMD age from 70½ to 72. The new proposal takes it a step further with a plan to gradually delay the RMD age again to 73 in 2022, 74 by 2029, and 75 by 2032. This provision helps near-retirees grow their nest egg for a few more years to maximize return and account for later retirement and longer life spans.

The SECURE Act 2.0 updates to the Saver’s Credit are another step in the right direction in ensuring Americans’ retirement security, but still not enough to solve the crisis at hand. To make the greatest impact, we must continue to make small steps and draw attention to the situation by calling for change.

About the author: Chad Parks

Chad Parks is the founder and CEO of Ubiquity Retirement + Savings, a leading financial technology company that pioneered transparent, flat-fee retirement plans for the historically underserved small business market. Since 1999, the firm has helped more than 10,000 businesses contribute over $3 billion toward retirement savings. Chad started his career as a financial advisor and has more than 26 years of experience in the industry.

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5 Oct 2022
The Safe Harbor 401(k): Designed to reduce the administrative hassle for small businesses

By Chad Parks, Founder + CEO

Before the pandemic, 80 million individuals did not have access to a retirement savings option, and 43% of employers did not offer one. A vast majority of small to midsize businesses do not offer retirement plans due to the cost, administrative burden, or lack of employee interest, but 68% of independent savers would participate in a workplace retirement plan if they had access.

As we take strides towards a post-pandemic world, many employees are prioritizing their need for benefits in the workplace. As my colleague Andrew Meadows previously discussed, we are in an employee’s market, where workers can pick and choose the job opportunity that’s right for them based on their goals, compensation needs, and benefits. Offering perks that employees want and need is a foolproof way to attract and retain top talent.

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8 Sep 2022
Retirement withdrawal strategies: 4 ways to help you extend your savings

Outliving your retirement savings could put you in a bad situation. Ubiquity CEO + Founder Chad Parks shares his advice with Bankrate on how to prevent this from happening to you!

“The biggest concern people seem to have is running out of money in retirement,” says Chad Parks, founder and CEO of Ubiquity Retirement + Savings in San Francisco. “The first step is to take a look at the amount you want to withdraw from your retirement plan and ask yourself if this is your only source of income in retirement.”

Once you know what your total retirement income will be, Bankrate offers four ways to maximize your savings via strategic withdrawals.

  1. The 4% Rule is a popular way to withdraw funds in a way that, statistically, reduces the risk of running out of money. In it, retirees withdraw no more than 4% of their total retirement savings in the first year of retirement. In subsequent years, the withdrawal amount is adjusted for inflation.
  2. In the fixed-dollar strategy, retirees determine how much they need to withdraw each year, and then re-assess that amount every few years. The withdrawal could be lowered in the future to match a lower portfolio value or could be raised if investments have increased in value.
  3. The total return strategy: Better suited for the risk-takers, with this strategy you remain fully invested as long as possible, notably with long-term growth assets such as stocks. You would withdraw 3-12 months of expenses only and leave the rest in your retirement funds. Then you would tap them again when more is needed.
  4. The bucket strategy: combines elements of other strategies: leaving money invested in high-return assets for longer periods while allowing you to take out money for short-term needs.

 

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6 Oct 2020
GOBankingRates: Essential Money Tips for Surviving the ‘Pandemic Spiral’

When it comes to making money decisions during this time of crisis, “going with your gut” may not serve you in the long run.

Ubiquity Founder + CEO Chad Parks shares insight that may go against your instincts but can help create a foundation of financial stability during these uncertain times.

Prioritize Emergency Savings

In times of uncertainty and upheaval, “people crave a return to familiar, predictable rhythms,”
– Monica Schoch-Spana, a medical anthropologist at the Johns Hopkins Center for Health Security to The Atlantic.

It’s easy to fall into a “normality trap” when dealing with a crisis. It’s basic instinct to want to return back to  “normal” ASAP rather than facing the uncertain world we are now in. When thinking about your financial life, this may mean you’re maintaining your normal spending (or lack of saving) behaviors, if you’re not one of the millions of people who have lost their jobs due to COVID-19.

The pandemic has illuminated how quickly financial stressors can strike–and with minimal warning. An emergency fund, ideally made up of 6 months of expenses, is a crucial part of your savings.

Keep Contributing To Your 401(k) Plan

While it’s important to build and maintain emergency savings, this doesn’t mean you should stop contributing to your retirement funds (as long as you can still afford to). If your employer has temporarily stopped matching contributions, your instinct might be to stop contributing — but this isn’t necessarily the right call.

If your company has suspended their 401(k) match, it’s likely so they don’t have to make more drastic cuts. In the words of our Founder and CEO at Ubiquity Chad Parks,

“Reduction in a long-term benefit is worth the short-term trade-off. For individuals, this loss of a company match should not modify your savings strategy. It will not make or break your retirement. Even if your employer is not offering a match, if you are saving in your 401(k), you are gaining a government match. Those tax dollars are going out the door one way or another. By saving in your 401(k), you are diverting those tax dollars from the government to your retirement savings”

Other tips include:

  • Cut Costs Where You Can

  • Put Your Savings Into a High-Yield Savings Account

  • Diversify Your Income

  • Keep Investing If You Can Afford It

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San Francisco, CA 94104
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© 2022 Ubiquity Retirement + Savings
Privacy Policy
Do not sell my info
44 Montgomery Street, Suite 3060
San Francisco, CA 94104
Support: 855.401.4357

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