The partnership will offer an automated savings system that allows employees to save in retirement or education plans, for example.
Paylocity (NASDAQ:PCTY), a payroll fintech company has joined forces with retirement savings company, EvoShare to create an automated cash-back platform that promotes retirement savings for employee 401(k) plans. The platform enables up to 30 percent cash back on purchases that are directly channelled into employee savings plans.
As quoted in the press release:
“By partnering with Paylocity, we are bringing a streamlined process for employees to get cash-back from the spending they already do,” said Eugeny Prudchyenki, CEO of EvoShare. “Employers can increase plan participation and satisfaction without extra work, and employees earn extra money to put towards their financial future. It’s a win-win all around.”
For too long, employees have only relied on their paycheck to save for the future or pay down student loan debt. Now, employees can use both their earnings and their daily spending to grow their nest egg. EvoShare partners with employers looking to increase employee participation, contributions, and overall engagement in their 401(k) plan and overall financial wellness. These employers offer EvoShare as a unique perk that gives their employees a breakthrough solution toward their financial security.