OnPay and Betterment at Work Launch 360° 401(k) Integration for Small Businesses
Digital 401(k) provides OnPay clients with a seamless way to offer workplace retirement plans
OnPay, a top-rated payroll and HR provider for small- and mid-sized businesses, announced the launch of its integration with Betterment at Work, a leading provider of modern, scalable 401(k) plans. The new partnership helps employers manage payroll and retirement benefits more easily and accurately through a connected experience. Together, OnPay and Betterment at Work are expanding the options available to small businesses that want their payroll and 401(k) to work together in one streamlined offering.
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OnPay’s “Exclusive Survey Data: Which Benefits Do Employees Want Most?” research revealed that only 41% of small businesses currently offer a retirement plan. The new integration helps close this gap by unifying 401(k) administration for already thinly-stretched payroll teams.
With this offering, businesses can quickly set up a 401(k) plan and connect it to OnPay. The 360-degree integration allows headcount updates and contribution data to flow automatically between systems, helping small businesses stay compliant and reduce manual data entry.
“Many small businesses want to offer their employees access to a 401(k) plan, but often worry that the plan administration will be time-consuming,” said Patrick Beahm, VP of Product at OnPay. “Our integration with Betterment at Work makes it easier for business owners to keep payroll and retirement data in sync across their systems. By automating payroll data flows, employers can spend less time on administrative work and more time running their businesses.”
“We are excited to partner with OnPay,” said Thomas Moore, Sr. Director of B2B Partnerships at Betterment. “By combining our modern, scalable 401(k) solutions with OnPay’s powerful payroll technology, growing businesses can offer employees a valuable retirement benefit, strengthen their hiring and retention efforts, and support long-term financial wellness.”
Streamlined 401(k) administration
The integration syncs employee and payroll data, eliminating the need for manual uploads. Key features include:
- Automatic employee sync
The integration automatically creates Betterment at Work 401(k) accounts for new hires, plus handles offboarding when employees leave the company. Updates to existing records are reflected across both platforms in real time.
- Automated contribution data
Each pay period, data for employee deferrals, employer matches, and loan repayments automatically sync between systems to support accuracy and compliance.
- Retirement readiness
Employees get access to a modern investing and savings experience with built-in financial guidance as well as extensive support resources from both partners.
Through this partnership, OnPay and Betterment at Work make retirement plans more accessible to organizations of all sizes, providing employers with a user-friendly option that simplifies benefits administration.
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