Great 401(k) solution for startups and small businesses
Overall Satisfaction with Guideline
We utilize Guideline as our 401(k) provider. We added this benefit in 2019 and made the decision primarily because Guideline gave us an easy and efficient vehicle to offer the benefit due to online admin, not having to deal with a broker and integration with Gusto, our payroll system. As a small business, It has been a very efficient and easy tool for our team to enroll and manage their 401(k)s.
Pros
- Integration with the payroll system.
- Handles all of the regulatory requirements for 401(k) like top heavy testing.
Cons
- For a small business with very minimal 401(k) needs, Guideline is sufficient for us. If you have a more sophisticated plan, you may run into some limitations.
- Expanding benefits to include 401(k) has been a helpful tool to compete in recruiting talent.
- There's very little administrative burden on our accounting staff
We didn't find any viable competitive option for Gusto that had the trifecta of low fees, Gusto integration and that handled all the plan management. There were plenty of other companies like Sharebuilder, Fidelity or Vanguard (to name a few) that do have low cost 401(k) options, but the integration and completely taking the administrative burden off of us clinched the deal.
Do you think Guideline delivers good value for the price?
Yes
Are you happy with Guideline's feature set?
Yes
Did Guideline live up to sales and marketing promises?
Yes
Did implementation of Guideline go as expected?
Yes
Would you buy Guideline again?
Yes
Comments
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