How Cobra Systems saved $400 a month by unbundling their 401(k)
See how switching to Guideline impacted their bottom line—and peace of mind.1
See how switching to Guideline impacted their bottom line—and peace of mind.1
‘All-in-one’ options seem streamlined, but that wasn’t our experience. Even though Guideline is a separate company, they’ve made offering 401(k) much, much easier.Client of Guideline. Views may not be representative of other clients.
As Director of Accounting & Administration, Nikki keeps the back office of family-owned Cobra Systems humming seven days a week. How does she do it?
“I dedicate most of my time to figuring out ways to save the business money and give our employees the best benefits possible.” Nikki took on both challenges during a recent reevaluation of company HR tools. The surprise headline of her research?
All-in-one options may have been great in the past, but a lot has changed over the years, and Cobra Systems found that their long-time provider wasn’t cost-effective compared to newer offerings.
“We bundled payroll and 401(k) to get an all-in-one discount, but we didn’t factor in the total cost of 401(k) fees.”
Determined to cut a better deal for Cobra Systems and their employees, Nikki started shopping.
We bundled payroll and 401(k) to get a discount, but we missed the fact that our 401(k) fees were expensive.
In doing their research for a new 401(k) platform, Nikki and team were ready to dig into the pricing details.
“Another payroll-integrated 401(k) provider offered a massive discount, but when we combed the fine print we realized that they would end up costing us more in the long run.”
Thankfully, one of Cobra Systems’ financial advisors recommended Guideline.
“Guideline pricing is affordable and predictable—plus, the high level of service saves us labor-related costs too. We don’t spend time on payroll data entry. And we don’t waste hours stuck in customer service queues.”
For Cobra Systems, Guideline checked all their boxes including:
“Guideline took the time to educate us on all things fees and 401(k). Between the sleek product and the great service, choosing Guideline was a no-brainer decision.”
We’re saving over $400 a month in employer service fees alone.¹
As soon as their switch to Guideline was finalized, the savings started rolling in for Cobra Systems. “We’re saving over $400 a month in employer service fees alone.”
But Guideline impacted more than just their bottom line. Employee 401(k) participation went up and stayed there. 100% of eligible employees self-enrolled and are saving for retirement today—and they’re doing it without having to ask Nikki for support.1 Plus, as Nikki pointed out, you can’t put a price on peace of mind.
“I don’t worry that I missed a form, deadline, or made a mistake. Guideline handles the bulk of 401(k) responsibility—and that takes the heat off me. The ‘all-in-one’ options certainly seemed more streamlined, but that wasn’t our experience. Even though Guideline is a separate company, they’ve made offering a 401(k) much, much easier.”