PensionBee Pledges 1% Match on up to $1 Billion of Customer Assets

Core Insights - PensionBee has launched a 1% match program to encourage Americans to consolidate old 401(k)s and IRAs, committing up to $10 million to this initiative [1][2][3] Group 1: Company Initiatives - The 1% match program aims to address the issue of over a trillion dollars in retirement wealth sitting in orphaned 401(k)s, which can incur additional fees and change investments without the account holder's knowledge [2][3] - The program provides a financial incentive for customers to roll over their old retirement accounts into PensionBee IRAs, enhancing the company's mission to help Americans take control of their retirement savings [3][5] - PensionBee's model simplifies the rollover process by handling it electronically and providing each customer with a dedicated U.S.-based account manager, known as a "BeeKeeper" [4][8] Group 2: Financial Projections - The 1% match applies to every rollover or contribution into a PensionBee IRA on the company's next $1 billion in customer assets, with potential long-term growth based on an assumed annual return of 6.15% [5][6] - Illustrative projections show that a $10,000 account could grow to a match of $600 over 30 years, while a $2,000,000 account could yield a match of $119,850 over the same period [6][7] Group 3: Company Overview - PensionBee manages over $9 billion in assets and serves approximately 300,000 customers globally, focusing on simplicity, transparency, and accessibility in retirement savings [8]