Santa Clara, CA – March 12, 2019 - Money Intelligence, a 401(k) provider located in Santa Clara, California that is solving America’s retirement problem by making it hassle-free and inexpensive for every business in America to offer a Fortune 500 quality retirement plan is happy to announce a partnership with EvoShare, a microsavings oriented FinTech startup based in Berkeley, California that uses daily spending habits to help employees save for their 401(k).

Money Intelligence is the first 401(k) provider to embrace EvoShare and help pioneer a new method of saving for a 401(k) plan. This partnership will empower small businesses to offer a one-of-a-kind benefit to their employees. With EvoShare on Money Intelligence’s side, they aim to make saving for retirement as easy as spending, giving participants money they never had before and making retirement plan participation more appealing and attainable.

“The retirement industry has been notorious for making it difficult for Americans to reach a secure retirement by offering burdensome 401(k) plans with high fees ,” said Monte Malhotra, CEO of Money Intelligence, “Our partnership with EvoShare is solving America’s retirement problem and makes it worthwhile for every business in America to offer a 401(k) plan by allowing every America to save for their retirement regardless of their financial situation.”

EvoShare is a premiere cashback retirement savings program that is giving employees a new, automated way to save for their 401(k) plan. EvoShare provides employees with a “set it and forget it” method where plan participants can spend as usual at over 10,000 participating locations and receive up to 20% cash-back toward their 401(k) or 403(b) plan.

With household spending reaching $12.9 trillion in 2018 and continuing to grow, it is evident that the majority of people’s paycheck is going to areas other than retirement. Money Intelligence and EvoShare aim to turn a portion of that spending into additional retirement dollars so that every American can start leveraging both their earnings and their spending to reach a secure retirement.

“Money Intelligence’s innovative capabilities to automate 401(k) administration will further streamline the additional contributions EvoShare generates.” said Eugeny Prudchyenko, CEO of EvoShare. “From now on, plan sponsors that are clients of Money Intelligence will have to do nothing in order to offer EvoShare to plan participants.”

This partnership will have the potential to change the way employers and employees view and experience 401(k) plans. Money Intelligence and EvoShare will go beyond the current paycheck-by-paycheck experience of a 401(k) plan and ensure every American, regardless of income, can start to build their retirement nest eggs.