Capital One Introduces Spark 401k

  • Credit Cards , Banking
  • 17.08.2016 11:15 am

Capital One announced the launch of Spark 401k, providing low-cost, all-ETF 401(k) plans designed to empower business owners and their employees to invest for the future. Spark 401k is the latest addition to Capital One's small business solutions suite, which includes Spark Business' award-winning credit cards, best-in-class banking products, and payments and e-commerce tools. 

Spark 401k is designed for businesses with fewer than 100 employees to deliver a straightforward retirement planning experience that offers the benefits available to larger companies. These benefits include the ability to build a retirement nest egg with tax-deferred dollars, reduce business taxes, and recruit and incentivize employees. The new Spark 401k leverages the technology and expertise behind Capital One's ShareBuilder 401k, which pioneered the all-ETF 401(k) movement beginning in 20051. Spark 401k also provides access to low-cost ETFs that keep investment expenses under one percent, helping employees further grow their nest egg.

" Only thirteen percent of small businesses offer a retirement plan and while many say they want to provide a plan, they often put it off because they think it will be too expensive, burdensome or complicated," said Stuart Robertson, president of Capital One Advisors 401k services, which oversees Share Builder 401k and Spark 401k. "We designed Spark 401k to make retirement planning easier and more accessible for small businesses. With its online plan management and direct access to licensed 401(k) advisors and customer success managers, Spark 401k can help small business owners plan for the future – for themselves and their employees – while they pursue their primary passion, running their business."

Related News