Benefits and retirement industry products: Carrot, Get Help, Rippling, Charles Schwab, SoFi at Work, TIAA
CareerPlug, Conduent, MillenniuM Investment & Retirement Advisors, SEI, IBH Population Health Solutions, Mammoth HR, ThinkHR
The employee benefits and retirement industry has been busy with launching new and enhanced products. Here are a few that crossed our desk.
TIAA announced the launch of a student debt solution in partnership with social impact technology startup Savi. It is designed to help employees of nonprofit organizations reduce their monthly student loan payments immediately, and to qualify over time for relief from the balance of their federal student loans by enrolling in the federal Public Service Loan Forgiveness (PSLF) program. TIAA is offering Savi’s solution to client institutions as a turnkey service to help them significantly expand the financial wellness benefits available to their employees.
ThinkHR and Mammoth HR announced the launch of Tell Us, a new anonymous reporting tool that provides a confidential way to manage and take action on incidents employees have anonymously reported. Tell Us provides a portal for employees to document these issues as they arise, so employers can collectively manage these risks and take action.
SoFi at Work has created the SoFi CARES Program aimed at helping employers facilitate CARES Act student loan contribution benefits in 2020. The SoFi CARES Program allows employers to make a one-time contribution of up to $5,250 toward an employees’ student loans with no cost or commitment. The SoFi at Work team designed the turnkey platform to include full access to the contribution platform and suite of financial tools at no cost for 2020.
SEI announced the launch of the SEI American Funds Strategies, built specifically for independent advisors leveraging the SEI Wealth Platform. The SEI American Funds Strategies span a broad risk-return spectrum. Making use of a full complement of American Funds built by SEI Investments Management Corporation, the strategies seek to provide a high level of diversification across a variety of asset classes.
Charles Schwab has launched integrations with HSA providers Optum Bank and Discovery Benefits LLC, aimed at enabling advisors to invest and manage their clients’ HSA investments through the use of Schwab’s Health Savings Brokerage Account (HSBA). HSBAs work like other Schwab brokerage accounts and are accessible to advisors through Schwab Advisor Center (SAC), and to investors through Schwab Alliance or Schwab.com.
Rippling announced new products for the broker community. The first is an automated end-to-end enrollment solution free for all brokers, and any carrier. Rippling provides support for all transactions — new hires, terminations, QLEs, and demographic changes. Rippling is also releasing an end-to-end process flow for supporting quoting, new group enrollments, and carrier switches. The new offering generates quotes with all the rates and SBCs built in, generates all employer applications, and provides supporting documents — like payroll tax filings, discrepancy reports. Rippling also released an app shop for SMBs with 500 integrated apps including G Suite, Slack, Guideline, Checkr, Zoom, Expensify, Asana, and Salesforce.
MillenniuM Investment & Retirement Advisors, LLC has selected PCS Retirement, LLC and Russell Investments to develop a 401(k) and 403(b) solution aimed at improving how advisors, plan sponsors and participants save for retirement. PCS Retirement provides third-party administrative and recordkeeping services, Russell Investments provides Managed Account services via their customized Personalized Retirement Accounts (PRA) solution, and MillenniuM Investment & Retirement Advisors, LLC (MIRA) provides the ERISA §3(38) Investment Fiduciary services. The Next Generation Retirement Plan is on an open architecture platform with a managed account option that qualifies as the QDIA (Qualified Default Investment Alternative).
IBH Population Health Solutions (Integrated Behavioral Health, Inc.) announced it is expanding its offering through a partnership with Papa, Inc. to help employees struggling to find help or care for their older loved ones. IBH’s new caregiver plus program pairs trained college students, referred to as “Papa Pals,” with older adults to help with light chores, transportation, technology assistance, and provide companionship through playing games or just having someone to talk to.
Get Help has created a digital network to expand social services to those who need it the most immediately. Get Help’s platform provides instantaneous inventory management and reporting tools to service providers while making geo-located data available to first responders, municipalities and the public. Users can filter services within a 10-mile radius, change the search location at any time or filter results based on resource category, bed availability, accessibility or special services with a database of 20,000 facilities and counting in a list or map view. Get Help has added a section to its app specific to COVID-19 resources such as emergency shelters, food banks, mobile showers and senior support.
Conduent announced the launch of its newly designed BenefitWallet mobile app. Available for Apple and Android devices, the BenefitWallet app gives members access to HSA, FSA and HRA balances, the ability to pay providers or reimburse themselves for eligible health care expenses, and more. Conduent has also launched a COVID-19 microsite to help members stay informed about changes impacting their BenefitWallet health accounts.
Carrot has partnered with digital women’s health company Ava to offer the Ava bracelet, an evidence-based, clinically-backed ovulation tracking tool. In addition to the Ava bracelet, Carrot members have access to fertility and family-forming education resources and a telehealth program with unlimited virtual chats with doctors, nurses, and other specialists. Additionally Carrot recently launched Carrot Pregnancy and Carrot Rx to help companies support more of their employees at home.
CareerPlug and ZipRecruiter announced the launch of a partnership to offer CareerPlug clients free sponsored distribution to ZipRecruiter for a limited time. The partnership will allow customers to post jobs and receive increased visibility across a mix of channels.
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