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Why #40dollars = #RetirementCrisis



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.


February 14, 2012 at 4:21 pm
Personal Finance


#40dollars is the White House’s latest Twitter campaign to raise awareness on what extending the Payroll Tax cut means to the average American’s paycheck.

While I am all for tax and spending cuts, and for putting more money in people’s pockets so they can help drive the economy, I do have a problem with where this cut is coming from!

Somewhere through all of this it has been lost on the media and the public that this tax cut is true to its name, a Payroll Tax cut, not an Income Tax cut.

These cuts are being paid for by Social Security!

So why does that matter? Because when they talk about this costing the government over $100 Billion dollars, what they are not telling us is that the piggy bank they are robbing is really our piggy bank! (Or the world’s biggest Ponzi scheme, depending on your views).

As if things with the deficit aren’t bad enough, they think it is OK to have your future Social Security benefits pay for this benefit today.

Sure, that #40dollars sure could come in handy for many right now, but where is it going to come from tomorrow?

#RetirementCrisis is what no one wants to talk about. We do. Is anyone listening?

Check out this article from the Washington Post.