Washington Saves vs. a Guideline 401(k)
customer satisfaction score3
The mandate in a nutshell
20-minute setup
Guideline will help you set up a 401(k) and enroll your employees for you. With Washington Saves, you may have to do extra work on behalf of your employees during setup.
Seamless administration
We’ll automatically deduct 401(k) contributions each pay run. With Washington Saves, you may need to manually send payroll contributions, maintain employee records, and more.Fast, live support
We have your back — you and your team get access to fast, live support via phone and email. Our annual plan sponsor customer satisfaction score is 93%.6
Custom integrations. Quick resolutions.
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Investments are our responsibility
Just like with the state offering, you won’t be responsible for investment option choices. We’ll serve as the ERISA 3(38) fiduciary which means we’re responsible for selecting and managing all investment options — our goal is to reduce your liability and provide you with peace of mind. Learn more
Guideline wanted to help us find the right 401(k), even if it wasn’t theirs. After a lot of research, Guideline's low cost and support made them a great fit for our company.Client of Guideline. Views may not be representative of other clients.
Get a retirement plan you and your team will love
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Washington Saves FAQs
What is the mandate?
The Washington Saves Program was created to encourage more people to save for retirement. Once enacted, it will require Washington employers to provide access to a retirement plan. The plan can either be a private plan like a 401(k) or the state-sponsored plan.
When does the mandate take effect?
The program is currently under development and there is no set enrollment or deadline at this time.
Which employers are impacted by the retirement mandate?
Washington Saves will require all private employers who have been in operation for at least two years in the state and have a workforce that has combined for at least 10,400 hours the previous calendar year to offer a qualified retirement benefit.
Does Guideline satisfy the retirement mandate?
Yes. All of Guideline's 401(k) plans are designed to satisfy state program requirements and are priced to be affordable for businesses of all sizes.
Can I move from Guideline Starter to a standard 401(k)?
While it is possible for a plan to convert from a Starter 401(k) to a standard 401(k) plan at Guideline, the transition cannot take place until the beginning of the next calendar year. Learn more here.