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Pay Yourself or Pay The IRS — You Choose!



Chad Parks is Founder, President, and CEO of Ubiquity Retirement + Savings, formerly The Online 401(k), has helped savers contribute over $1.4 billion towards their retirement since 1999. 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 in the fine print. The company is headquartered in San Francisco with satellite offices from coast-to-coast. Read More...

Parks started out as a broker in the financial services industry by growing a portfolio of individual clients at San Francisco’s Piper Jaffray. Driven by a desire to better serve his clients while anticipating the phasing out of the traditional broker model, Parks left Piper Jaffray in 1997 to obtain his CFP designation and start his own fee-for-service, independent financial planning practice, Retirement & Education Group, Inc.

In his financial planning practice, Parks came across many small business owners looking for cost-effective and quality retirement plans. Finding the small business market highly neglected and underserved, Parks saw the opportunity and took it by launching The Online 401(k). Today, Ubiquity serves more than 7,000 small business customers in 50 states, providing solutions both directly and through partners, such as Zenefits, Charles Schwab & Co. and Morningstar, as well as payroll companies, financial planners and CPAs.

Parks has been quoted in many financial services as well as national publications such as The Wall Street Journal, The New York Times, Fox Business, Yahoo! Finance, USA Today, CNN Money, Bloomberg Wealth Manager, Business Week, Entrepreneur and Plan Sponsor for his considerable work performed in the space of small business retirement as well as his foray into documentaries with his independently produced Broken Eggs Film, released in 2014.

With his extensive work in Washington DC in getting legislation passed in order to stop the practice of hiding fees in the fine print, Parks has become the go-to expert on public policy as it relates to 401(k), as well as the looming retirement crisis in America, and what we can do to fix it.


April 17, 2012 at 11:50 am
Retirement News


It’s that time of year again, time to reconcile your taxes, and either pay in even more or get some back. Doesn’t really matter either way, at the end of the day you still paid a bunch — probably more than you wanted to!

So here’s the deal:

You know you need to save for your retirement. We can help you figure out the best way, and best of all we’ll get the government to pay for it.

That’s right. The government wants to pay you to not pay them. Cool huh?

Why? It’s because they realize that there is a looming retirement crisis on our hands, and they realize that Social Security is not meant to be the main pillar of your retirement. They want and need you to save.

Here’s how it works. The government wants you to save so badly, they offer:

  1. Tax deductibility of your retirement savings
  2. Tax deferred growth on your savings
  3. Tax deductions for the expense of having a retirement savings plan if you are a business
  4. Tax credits up to $500 a year for three years for your business if you put a plan in place

That’s a lot of tax incentives don’t you think?

It really is not complicated.

A simple question for you the owner of a business or you the employee of a business that does not have a plan:

Can you (the owner) personally afford to save $160 a month? I would hope that you said yes.

Well through the magic of math, and the generosity of the IRS, that is all you need to save to have a free retirement plan for you and your employees.

It’s a win-win-win.

  1. You the owner wins because you begin saving for retirement. At $160 a month the tax savings and the tax credits pay for the plan entirely. Any savings beyond $160 a month, and you really are getting paid to save. Or think about it this way, those tax dollars are going out the door straight to the IRS regardless. Why not legally redirect those for your immediate benefit?
  2. Your employees win. They become more appreciative, think of you as a hero, and now have the ability to save at work for their own retirement. Note, you are not required to do any matching!
  3. The government wins because you have done your part to help solve the looming retirement crisis. Thanks!

We are building an interactive calculator so you can see for yourself how this works.

In the meantime, feel free to give us a call or send us an email, and we’ll help you figure it out.

Go on take that first step. You’ve made it this far ;-).