Uber to provide drivers retirement plan help

by SpeedLux
Uber Technologies Inc

Uber is now offering motorists in some cities support in planning retirement.

Uber stated Wednesday it was partnering with Betterment, an online investment and wealth management company, to supply a year of automatic investment management suggestions for motorists in Seattle, Boston, Chicago and the state of New Jersey. The company intends to roll the plan countrywide.

The post includes that drivers can use their Uber app to open a Betterment IRA (individual retirement account) or Roth IRA free of charge. Individuals who drive with Uber can begin without any minimum account balance.

After the complimentary year ends, users with a balance below $100,000 pay an annual fee of 0.25% of the typical yearly account balance for the year, or $25 on $10,000.

It’s among handful of modest advantages the extremely valued start-up has actually rolled out to motorists as it competes with matches that assert the company needs to treat its motorists as employees, with the rights and benefits provided on that status. Uber says its drivers are independent professionals who should offer their own benefits and do not technically work for the company.

Among the greatest suits, concerning California and Massachusetts drivers, is presently in legal limbo.

Uber’s Momentum Partner Rewards program offers qualified motorists access to deals on health care, car repair work and lowered costs on cellular agreements. Uber this year has likewise made other changes it says chauffeurs looked for, such as clarity on when a motorist is deactivated from making use of the app.

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