New Feature: Specify Percentage for Justworks 401(k)
Employees can now decide how they'd like to save for their 401(k), either based on a percentage, or a flat amount — right in the Justworks product.
Justworks is a technology company that levels the playing field for all small businesses. Through our software and as a partner, we help our customers take care of their teams, streamline their operations, and navigate the complex aspects of managing a workforce with confidence.
Schedule Outside 401(k) Deductions
We've built an entire guide on employee savings. Download it for free here to learn just how and why employee savings programs work.
We're excited to announce that if employers are using an outside 401(k) provider, they can now setup percentage deductions from their employees' pay for 401(k).
Schedule Outside 401(k) Deductions
Previously on the Justworks product, all types of outside scheduled deductions were based on flat, set amounts. Now, employers can setup scheduled outside 401(k) deductions based on a percentage as well as a flat amount.
Whenever 401(k) pretax or 401(k) after-tax is selected, an option now appears to select whether to deduct a flat amount or a percentage.
Note that this has always been possible for employees that have already signed up for a 401(k) plan through Justworks, we're just now enabling it for companies using outside 401(k) providers.
We hope this new feature makes it even easier for your employees to save for their futures - let us know what you think! Want to learn more about how to get your team enrolled in Justworks 401(k)? Get in touch!
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