Third switch is the charm for one busy pharmacy
See how a modern, integrated 401(k) from Guideline works for Cashiers Valley Pharmacy.
Cashiers Valley Pharmacy at a glance
- 12 employeesCompany size
- Cashiers, NCLocation
- HealthcareIndustry
I only wish I had switched to Guideline sooner. I absolutely love not having to file paperwork or complete another list of to-dos each pay period.Client of Guideline. Views may not be representative of other clients.
Challenges
Manual data entry, complex compliance paperwork, and no payroll integration.Why Guideline
Integrations to automate busywork and all-in-one 401(k) management.Results
2 hours saved per month and fewer employee requests thanks to self-serve tools and mobile app.2
Challenge
Brandy has been contributing to a 401(k) for most of her adult life and has always believed in the power of investing. So when she bought the independent Cashiers Valley Pharmacy in 2015, she knew she wanted to provide the same investment opportunity for her employees. “My team is fantastic, and I want them to know they’re valued. Offering a retirement benefit helps reinforce that I care for them, their futures, and their families.” For Brandy, the decision to offer a 401(k) was easy. Finding an easy way to administer 401(k)? Not so much. Over the last decade, Cashiers Valley Pharmacy has tried three different retirement options before finding Guideline:
- Large, legacy 401(k) provider recommended by a friend in finance
- SIMPLE IRA, in the hopes of less administration
- Rolling funds into a 401(k) plan with an affiliated third party company they consulted with
“Our first 401(k) provider came with too many time-consuming tasks and a heap of compliance paperwork so we switched to a SIMPLE IRA. The SIMPLE IRA was technically less work, but I still needed to print payroll reports, send in checks — it was a long to-do list each pay period. I dreaded it. More recently, our contracted benefits consultant approached us about rolling over into their 401(k). We jumped at their offer to make administration easier. The only problem was, their 401(k) plan wasn’t actually any easier to manage.”
I wear a lot of hats — but HR is my least favorite hat to wear... Our previous 401(k) came with a lot of paperwork, compliance responsibility, and time-consuming tasks.
Solution
Guideline’s integrated and all-in-one 401(k)3 approach had been on Cashiers Valley Pharmacy’s radar for years, but another switch? Change felt daunting. That is until one late weeknight Brandy spent at the office updating 401(k) data in her Gusto payroll account.
“I thought to myself, Guideline automates 100% of this work — why am I still here punching in numbers? I have an eleven year-old at home who looks for Mom every day at 6:15pm on the dot. Time is my most valuable resource. Clearly, I need to rip off the band-aid and actually make 401(k) easier.” Thankfully, this fourth and final move to Guideline was easier than expected.
“All of the headaches I experienced with previous providers? None of that happened with Guideline. It truthfully took no time at all to make the switch. I answered a few questions and boom — everything was rolled over.” For Cashiers Valley Pharmacy, a switch to easier 401(k) from Guideline means:
- Time saved on data entry thanks to daily, two-way syncs between Gusto and Guideline
- Shortened to-do lists with automated on/offboarding and eligibility tracking
- All-in-one 401(k) management, with no surprise compliance paperwork4
- Mobile, self-serve balance checks and portfolio adjustments that keep her team in control
- Fewer employee questions to field thanks to a well-designed platform that’s easy to use
Employees can check the mobile app to see their investment performance in real-time, make changes without waiting on me, call Guideline’s support team directly — it’s a hit.
Results
Brandy does have one regret: “I only wish I had switched to Guideline sooner. I absolutely love not having to file paperwork or complete another list of to-dos each pay period. I submit payroll and that’s it. Guideline does the rest. I'm saving a lot of time and I'm definitely saving a lot of mental effort.”
And Brandy isn’t the only one marking the move to Guideline as a big win. “The team loves using Guideline. Guideline makes 401(k) more accessible and easier to understand for them. Employees can check the mobile app to see their investment performance in real-time, make changes without waiting on me, call Guideline’s support team directly — it’s a hit. The added 401(k) functionality has made a big difference for all of us.”
And Brandy isn’t the only one marking the move to Guideline as a big win. “The team loves using Guideline. Guideline makes 401(k) more accessible and easier to understand for them. Employees can check the mobile app to see their investment performance in real-time, make changes without waiting on me, call Guideline’s support team directly — it’s a hit. The added 401(k) functionality has made a big difference for all of us.”
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