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Enable the Future of Your Employees in Illinois
For Business Owners
For Individual Savers

Questions? Reach out to our
team at 1-800-935-7214

We have options for businesses in Illinois
The state of Illinois requires that all businesses with 5 or more employees provide access to a retirement savings plan. As a business owner, you can choose to offer the state-sponsored plan, or a different plan like the Finhabits 401k, which offers additional benefits for both you and your employees.

Questions? Reach out to our team at 1-800-935-7214

A smart solution that you & your employees can trust

Easy-to-manage plans

Plan administration 3(16), record keeping, fiduciary oversight, and investment management 3(38) are included in our plans.
Safe harbor status
Designed to automatically pass most nondiscrimination tests required by the IRS.

Matching options

Finhabits has different 401k match options to help incentivize your employees to contribute to their plan.

Smart investments

Help your employees save efficiently for retirement with low-cost target date funds.

Build financial habits

Our platform helps your employees gain control of their finances so they can thrive at work.

Bilingual mobile app

Employees can download our bilingual app to access educational tools and monitor their account.
Show your employees that you care.
Employees do care when their employer shows commitment to their financial well-being. That’s why, in today’s competitive job market, offering a retirement savings plan can be the difference between retaining and losing talent.
Employees do care when their employer shows commitment to their financial well-being. That’s why, in today’s competitive job market, offering a retirement savings plan can be the difference between retaining and losing talent.
How to get started?

1

Request a demo
Discover how Finhabits can help you

2

Get help selecting a plan
Reach out with any questions.
We’re here to help!

3

Sign up online
Fill out the simple onboarding process

Questions? Reach out to our team at 1-800-935-7214

Sign up now
Compare Finhabits 401k plans and Illinois Secure Choice IRAs

The Finhabits 401k plans were designed with most small and medium-sized businesses in mind, including those in states like Illinois that have been mandated to offer retirement benefits. While the IL state-sponsored Secure Choice plan uses Roth IRAs, only employees earning less than the IRS maximum can participate. A Finhabits 401k plan can be a better solution for you and your employees.

Finhabits 401k
CalSavers
IRA
Maximum employee contribution
$20,500
$6,000
Catch up contribution ages 50 and older
$6,500
$1,000
Defined contribution maximum limit
$61,000 ($67,500 edades 50+)
Not applicable
Your workers are an extension of your family
Boost morale & employee culture

In today’s tight labor market, a 401k can help your business attract and maintain top talent.

Make it simple

Our plans come with automated contributions deducted directly from the employees’ pay

Save up to 3 times more
401k plans have higher contribution limits than the IRAs offered by most state plans
Sign up now
Frequently asked questions
Do Finhabits 401k plans satisfy the CA retirement mandate?

Finhabits 401k plans were designed to help your business comply with requirements of the Illinois retirement savings mandate. Reach out to our team at 1-800-935-7214 with any questions.

Can my business offer a Finhabits 401k plan?

Finhabits offers its plans to businesses regardless of size. Most companies looking to offer a retirement plan for the first time can sign up for a Finhabits 401k plan. If you have questions, you can call us Monday through Friday during business hours at 1-800-935-7214.

How do I sign up for a Finhabits 401k plan?

The onboarding process can be completed online with just a few clicks and in minutes. We provide you with phone support in English or Spanish and we prepare all the necessary legal documents for you to sign electronically. If you have questions, please call us Monday through Friday at 1-800-935-7214.

Do I have to register with the Illinois Secure Choice program regardless of my plan provider?

Offering your employees the state-sponsored program Illinois Secure Choice is not mandatory, as businesses have the alternative to select a private retirement plan like a Finhabits 401k plan.

However, employers who qualify to meet this mandate – and decide to offer a private retirement plan – must inform the state about their choice and report their exemption through the website https://employer.ilsecurechoice.com/ before employers registration deadlines.

Get step-by-step guidance
Our U.S.-based team can answer your questions.

Support in English and Spanish.
Sign up now

This material has been provided for informational purposes only, and is not intended to provide investment, legal or tax advice. Check with your tax advisor to determine what tax credits and tax deductions may be available for your business. Finhabits does not provide tax, legal or accounting advice. Investment advisory services offered through Finhabits Advisors LLC, an SEC registered investment adviser. Registration does not imply a certain level of skill or training. Past performance is no guarantee of future returns. There are risks involved with investing. Insurance services offered through Finhabits Insurance Services LLC, a licensed producer in certain states. Finhabits Advisors LLC is not a fiduciary to insurance products or services.

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