401(k) provider Decimal and non-profit EARN collaborate to give Bay Area’s working poor tools to climb the economic ladder

Two companies create a paradigm shift regarding planning for the future – it’s not just for the wealthy or for large corporations.

SAN FRANCISCO (September 7, 2005) – Decimal, Inc., (www.theonline401k.com) the leading provider of full-service Web-based 401(k) plans for small and single-person businesses, today announced its partnership with EARN (www.sfearn.org), nationally-recognized, award-winning non-profit financial services organization that seeks to empower the working poor through asset-building.

Most of the businesses started by EARN Savers are self-employed businesses. This partnership will enable EARN Savers who have started small businesses access to a retirement plan through Decimal’s donation of Single(k) plans, a retirement plan specifically for the self-employed.

The partnership between Decimal and EARN is not limited to this donation. These two companies, which thrive on innovation, are collaborating on numerous other projects. Decimal’s CEO, Chad Parks, a Certified Financial Planner, recently held an educational workshop on retirement & savings for EARN’s alumni. Decimal and EARN are also planning a co-produced event that will bring together a variety of industry experts and influential executives to identify new trends and uncover new ideas pertaining to innovative savings solutions.

Decimal introduced its offering, The Online 401(k), to small businesses as a smart, affordable alternative to the products with hidden fees present in the overwhelming majority of 401(k) providers. The Online 401(k) allows small businesses to directly manage their 401(k) plans online while also making dedicated personal customer care a top priority. Decimal has more than 1,800 clients across the country – all of them small businesses.

EARN offers financial management training and matched savings accounts for the working poor. The cornerstone of EARN's offering is the Individual Development Account, or IDA. IDAs are matched savings accounts, like 401(k)s, designed to help working poor families accumulate money to invest in high return assets such as home ownership, small businesses development, or post-secondary education. Most recently, EARN became one of 10 finalists up for the Nonprofit Innovation Award sponsored by Amazon.com and Stanford Business School.

Chad Parks, CFP^® and CEO of Decimal said, "Although our audiences are different, EARN and Decimal have the same mission – to make the process of saving accessible and affordable for everyone. Both Decimal and EARN are dedicated to serving the underserved: EARN focuses on the working poor, while Decimal concentrates on small businesses – both of these audiences have historically been ignored by mainstream financial service companies because of the same reason: lack of assets. Although Decimal is still a relatively small and growing company, we believe that it is important to donate time and other resources to inspirational organizations, such as EARN. We are proud to share their message – it’s never too early or too late or too difficult to save."

Ben Mangan, Executive Director of EARN remarked, “ More and more working-poor people are turning to micro-enterprise as a way to create lives of dignity for their families. Decimal is demonstrating tremendous vision by recognizing that these entrepreneurs are in fact the investors of the future. At EARN, we think they're right on the money."

About Decimal:
Small businesses interested in learning more about The Online 401(k) can request a quote at www.theonline401k.com and automatically receive a customized proposal via e-mail. Small businesses can easily establish their 401(k) plan, thanks to a streamlined plan adoption process. Decimal offers a wide variety of investments to choose from through Charles Schwab & Co., Inc.’s One Source^® platform. Once the 401(k) plan is set up, employees access 401(k) and investment education, select their investments and manage their individual 401(k) accounts – all from the convenience of their desktop.

For more information on The Online 401(k), please visit www.theonline401k.com.

About EARN:
Founded in San Francisco in 2001, EARN is the only asset building organization in the nation that is working simultaneously to open the door to financial success for the working poor, pilot new solutions to poverty that can be put to work on a large scale, and transform asset policy in California. With an organizational culture rooted in constant innovation and bold leadership, EARN is committed to making the American dream a reality for working poor families.

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or call us at 877.775.401k.