I interviewed with these guys! I've spoken with one of the founders, Roger Lee, at length about their product and I have to say that they are amazing people with great vision. Even though I didn't get the gig, it's great to see them doing well! Good things happen to good people.
We're a Captain401 user at Seneca Systems and it is fantastic.<p>We can offer a 401k program despite being a small company plus they integrate with Gusto so I have to do nothing to actively maintain it.<p>#TheDream<p>As a founder, this goes beyond just another benefit. Supporting your employees' long-term financial future is really important. Maybe early employees make a few hundred million, but far more likely your company will fail. In that case, they shouldn't have lost years of savings potential.
<a href="https://captain401.com/pricing" rel="nofollow">https://captain401.com/pricing</a><p>How do these financial services justify charging a percentage of the funds managed? Is there more work involved in handling an account with a larger balance?
Great that they're doing this! I especially like their philosophy here [1] about favoring index funds. Way, way too many employers give you a poor selection, loaded with actively-managed ones -- my last major employer did.<p>(Even better would be for the law to not limit employee 401k choices to ones selected by the employer, based on some misguided belief that they benefit from having the same choices as the "highly paid employees", as required by the 401 code, given that those very executives don't actually rely on 401ks for retirement and thus have little incentive to get the choices right ... but hey, you gotta work with what you have.)<p>[1] <a href="https://captain401.com/investments" rel="nofollow">https://captain401.com/investments</a>
This is awesome. I've experienced first hand the hassle of setting up a 401k for employees (and now appreciate why so many companies don't offer it until they're bigger). In my mind, it would be a strictly better world where all companies could offer this benefit.
Their pricing looks very good. But very small companies may also want to look into SIMPLE IRAs. They are less flexible in terms of employer contribution options (basically 3% match to a max of $12.5k or 2% unconditional to a max of $5,300) and have lower employee contribution limits ($12.5k) but involve far less paperwork and tend to have considerably lower fees.