Betterment Updates 401(k) Dashboard With AI-Powered Benchmarking

Betterment at Work, a 401(k) solutions provider for businesses run by investment advisory firm Betterment LLC, announced Wednesday its redesign of an artificial-intelligence-powered plan sponsor dashboard. The new homepage centralizes administrative tasks, payroll integration status, action items and support and can provide personalized insights for plan sponsors.

The dashboard includes a plan benchmarking tool that can review plan participation and average contribution rates and compare them to national averages to assess performance and engagement.

Betterment at Work’s 401(k) platform was designed to meet fiduciary requirements and provide employers with customizable plans, payroll integration and built-in compliance.

“Plan sponsors are being asked to manage increasingly complex retirement programs, often without dedicated internal resources,” said Chelsey Lubin, vice president of client experience at Betterment, in a statement. “Our redesigned dashboard unifies tasks and showcases AI-powered benchmarking in one place so sponsors can focus on the actions that matter most for their employees’ retirement outcomes.”

As of May 10, Betterment had more than $70 billion in assets under management, including more than $25 billion in retirement accounts, according to its website.