Each small business comes to us with unique needs. We don't believe that "one size fits all" and in fact, we think that working with small businesses to find the right solution is always a fun challenge!

Maximum Productivity at NetHawk Interactive, Inc.

Robert Mendez is the founder of NetHawk Interactive, Inc. (www.nethawk.net), an online media planner for technology businesses. We sat down with Robert Mendez to find how The Online 401(k)™ has been able to meet his needs.

What was the main reason for deciding to set up a 401(k) plan for your small business?
NetHawk has specialized in "new economy" companies, helping them maximize productivity and streamline scalability. Because of that core business, we knew we needed to use that same strategy for our own systems. We studied how our "old economy" administrators did not take advantage of those two keywords, scalable solutions and maximum productivity. Finding scalable solutions to our long–term business systems that enable us to focus on our core business are essential for our success. Our business depends on keeping highly trained and educated marketing technology consultants, and keeping them motivated and rewarded. We wanted to encourage those employees who had long–term goals that coincided with our mission.

Why did your company select The Online 401(k)?
The Online 401(k) showed me that they understood the way businesses needed to communicate and plan for their future. Everything was clear and the Graphical User Interface (GUI) was easy to understand and use. They seem to have not only answered all my questions in a way I could understand, but they thought of things that I should have asked. Most of all, I’ve been in marketing for forty years and I knew that this company understood the marketplace and we were right in their sweet spot. To maintain success in this competitive technology world, I need to make the best decisions on those criteria that are most important to my business. The Online 401(k) made the decision simple.

How did you go about your search for a 401(k) provider?
This is our third provider in nine years. We attempted to get a plan that suited our needs, but at the time we were looking for this, most of these plans were fee heavy and labor–intensive. I can’t afford a full–time administrator and unless I minimize the load for these services, the whole thing won’t work. I will lose more than my 401(k). We examined the choices available and asked for lots of references. We had to adhere to a strict regimen of criteria that directly affected our business.

Describe what you like the best about being a plan sponsor and/or a plan participant of The Online 401(k).
I feel like I can see everything I need to see and I don't need an expert to help me through a maze of screens or reports. Visually, it makes sense.

What do you like best about The Online 401(k)?
We are very happy with the whole experience and everyone has been understandable and attentive to our needs. The thing I like best is the value. Finally, a company that understands what a small business needs and can afford.

Thanks very much to Robert Mendez!

Building Success at Skura Ltd.

Dana Sheppard is in charge of Finance & Administration at Skura Ltd. (www.skura.com), a software company that provides Customer Relationship Management solutions to the Life Sciences industry. Skura’s parent company is based in Canada and when they opened their first subsidiary in the US, they knew that a 401(k) plan was a must-have benefit in order to attract talented consultants to staff their American subsidiary.

We sat down with Dana Sheppard to find how The Online 401(k) has been able to meet her needs.
 
Dana, why did your company select The Online 401(k)?
We decided to go with The Online 401(k) for a couple of reasons.  First, our employees were asking for a 401(k) plan.  Second, we employ very high-end, highly-paid employees and we do whatever we can do to draw them in.  We understand that a 401(k) is imperative to them.

Since 401(k) plans are managed directly by the employees, we liked the fact that The Online 401(k) allows employees to control their money whenever they want through an online interface.  The Online 401(k) also allowed us to manage the plan online directly from Canada.

How did you go about your search for a 401(k) provider?
I compared The Online 401(k) to three other providers; one of which was a bank and was more labor intensive — not what I was looking for.  The top three criteria in selecting The Online 401(k) were the affordable monthly administrative fees, the flexible plan options and the great variety of investment options.

Tell us about your plan setup process
The Online Plan Design process was very simple.  Eddie was excellent from Day One, he gave me more service than I expected, he was really great.  It really helps to see the Online Plan Design process on a computer screen while you’re on the phone being walked through it.  If it had been on hard copy, it would’ve been difficult. 

Because it’s all online, as soon as the employees logged in, they had no problems setting up their plan.  I had no questions from them.

What do you like best about working with The Online 401(k)? 
What I like best about being a plan sponsor with The Online 401(k) is that I can go in and manage the plan whenever I want. I can add employees to my census anytime, I can print reports anytime I want; and sending my 401(k) deposits is very easy. It’s all very simple.

Adding to Benefits at Whitestone Tec Inc.

Michele Pius works in the Accounting department of Whitestone Tec Inc. (www.whitestonetec.com), a software company that designs Web-based applications. 

Whitestone Tec Inc. is a growing tech company that was looking for a 401(k) plan to provide another benefit to their existing employees.  Being able to offer a 401(k) plan would also draw new employees and help the company stay competitive with other tech companies.

We sat down with Michele to find how The Online 401(k) has been able to meet her needs.

Michele, why did your company select The Online 401(k)?

We selected The Online 401(k) to be our 401(k) provider because their product and services met our criteria.  We were looking for a plan that was easy to administer, one that would fit into our budget and also have solid investment choices.  We liked the fact that The Online 401(k) was a Web-based application, it was easy to use and that it’s connected to Schwab.  I liked the fact that the employees were able to setup their own plans.  Those reasons gave us the confidence that The Online 401(k) is right choice for us.

How did you go about your search for a 401(k) provider?

Our search process was a combination of getting help from an advisor and doing our own research.  Our advisor presented five different companies’ plans to us and after comparing them, it was easy to narrow them down to The Online 401(k). 

Tell us about your plan setup process.

Setting up the plan was very easy.  Eddie Galvani had met with our entire team over the phone and talked our employees through the Online Plan Design process. In the beginning I had a few questions and Eddie was quick to return phone calls and provided helpful answers to my questions.

What do you like best about working with The Online 401(k)?

As a plan sponsor, what I like best about working with The Online 401(k) is that when I process the payroll, it’s an easy point-and-click.  I’m a participant too and I like that it’s simple to decide where you want your investments to go.  

Many thanks to Michele Pius!