The result of this work is a program that is free and always will be free for employers. The cost of the program is paid by those employees who open a personal workIRATM account for their own retirement. Employers do not make contributions to the program and the fiduciary relationship is born by Prudent and each workIRATM account holder.
To take advantage of technology and payroll integration, Prudent has selected Aspire Financial Services as the recordkeeper for the workIRATM program. Aspire is foremost a technology company that delivers customized and flexible solutions at an affordable price. Finally, Prudent has selected one of the world’s leading financial institutions to provide the core investment options of workIRATM. Dimensional Fund Advisors, the eighth largest mutual fund company in the United States, is providing the workIRATM program access to its innovative second generation Target Date Retirement Income funds.
The combination of fiduciary excellence (delivered by Prudent), world-class investment options (offered by Dimensional), and a leading technology interface (provided by Aspire) is the secret sauce that makes workIRATM the nation’s foremost payroll-deduction IRA choice for American employers. All of this is delivered to employees at costs that are comparable or less than the typical smaller employer 401(k).