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Important information about integrating your 401(k) plan with Zenefits

Zenefits is pleased to offer automated connections with multiple 401( k ) providers (“Integration Providers”) to help make it easier for employers to sync payroll and 401( k ) deduction information.  You should understand the following regarding our Integration Partners:

  1. You are not required to use an Integration Partner in order to use other components of the Zenefits platform.  If you currently have or would prefer to have a 401( k ) plan through a provider that is not one of our Integration Partners, you can do so and continue to operate your plan outside of the Zenefits platform.
  2. Zenefits does not promote, endorse or recommend one 401( k ) plan provider over another.  Rather, we encourage you to independently evaluate all of your options in selecting the provider that best suits the needs of your business and your employees/plan participants.
  3. If you integrate your 401( k ) plan through Zenefits, though the integration itself is free to you, Zenefits receives an integration fee paid directly to us from our Integration Partner.  The purpose of the fee is to offset the cost of building and maintaining a high-quality integration system with our Integration Partner.
  4. If you are establishing a new 401( k ) plan or transferring your existing 401( k ) plan to one of our Integration Partners, please contact the Integration Partner directly to receive information about the different pricing options available to you.
  5. Zenefits does not provide or perform any services directly to 401( k ) plans.  Rather, Zenefits facilitates the employee data and payroll information used by your HR department and a 401( k ) plan provider to determine plan eligibility, benefits, vesting and the timing of distributions.  Zenefits does not to any extent act in a fiduciary capacity to your company, your employees your plan or its service providers.  You are encouraged to review  information available from both the Internal Revenue Service and  the Department of Labor  about your obligations as a sponsor of a  401( k ) plan.
  6. The information contained on zenefits.com, this site and in the Zenefits platform is not intended to be and does not constitute investment or other professional advice.  Such information is general in nature and is provided solely for informational and disclosure purposes, and is not to be construed or interpreted to any extent as an endorsement or recommendation of 401( k ) plan products or services. All investment decisions are solely the responsibility of the plan sponsor (the employer) and the 401( k ) plan fiduciary (ies).  As stated above, the plan sponsor and plan fiduciaries should independently determine, with the benefit of legal and other professionals to the extent necessary and appropriate, the basis upon which 401( k ) plan services should be provided.
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