JULY Announces New Online Participant Enrollment Technology

Waco, TX, April 15, 2021 – July Business Services (JULY) recently released proprietary 401(k) enrollment software designed to streamline the participant enrollment experience and improve retirement outcomes. The mobile-friendly software guides participants through a series of easy, intuitive steps and makes enrollment fast and convenient. By illustrating how selections will impact a participant’s paycheck as well as projected growth over time, the tool tells a relatable story and inspires meaningful retirement planning decisions. High points of the new software include:

Ease of use: Participants can enroll on their phone in fewer than five minutes.

Choice of paths: Participants select one of three enrollment choices based on the level of customization they would like when setting up their account. With Automatic Enrollment the participant agrees to the default selections; Quick Enroll prompts participants to choose from three preset enrollment packages; Custom Enrollment guides participants step-by-step through a more detailed enrollment process.

Simple investment selection process: Typically, the most complicated area for participants, the new tool uses simple, categorized cards to help participants choose an investment path including age-based portfolios, risk-based portfolios, managed accounts, or individual investments, depending on the plan’s investment menu.

Customizable investment risk tolerance tool: The enrollment experience features a quick, simple tool to help participants determine their risk tolerance and select appropriate asset categories based on their responses. The investor profile questionnaire may be customized, allowing asset managers to effectively represent and guide participants to best utilize their unique solutions.

“Creating dynamic software allows investment products to be easily inserted, understood and selected. Designing our own experience gives us the ability to simplify the enrollment process and include customization capabilities. We see this software as crucial in assisting individuals with building their retirement security,” JULY’s VP of Product Development and Marketing, Michelle LeCates, says.

More Features: Other notable features of JULY’s enrollment software include: the ability to set rebalance frequency, short educational videos and chat and phone support. Future enhancements will include managed account options, including built-in integration with the StoryLine by Stadion managed account solution, multi-lingual options, and a comprehensive retirement income tool.

“Over the last 15 years, JULY has built a strong software development capability allowing us to create modern technology solutions to streamline and enhance many facets of the retirement planning process.” JULY CEO, John Humphrey, says. “Our 2021 roadmap includes a number of innovative solutions to save clients time and improve outcomes, including a robust plan eligibility management solution, electronic notice delivery tools, broad-based payroll integration and validation, and an online plan setup platform to streamline the setup process. We are also working on a suite of tools to support our emerging 3(16) and Pooled Employer Plan capabilities.”



About JULY:

JULY is a 401(k) services company specializing in hi-touch, tech-enabled retirement plan services. Our employees have served as plan experts to advisory firms, advisor and employers in the small and micro 401(k) plan market for over 25 years. Our standard approach includes serving as a plan fiduciary, either in a 3(16) plan administration capacity or via our upcoming Pooled Employer Plan solutions. Over the last decade, our in-house software development team has built a host of proprietary technology solutions to streamline, automate and simplify all facets of retirement planning to make processes rewarding and easy for our clients. For more information about JULY, visit our website: https://www.julyservices.com.


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