Blue Sky Reduces Costs by 46%

Charleston, South Carolina--(Newsfile Corp. - July 16, 2024) - Blue Sky Specialty Pharmacy, based in Charleston, recently discovered a best practice retirement solution that has been pivotal for both the business and all of its 200+ employees: a 401(k) retirement plan called BetterK by Rebalance. Blue Sky has been working with Rebalance since July 2023. Since the start of the engagement, Blue Sky has experienced a 46% decrease in costs, over a 45% increase in employee participation levels, and over a 15% increase in employee contribution amounts.

Retirement benefits, or the lack thereof, are often a major driver in attracting top staff to an organization. Prior to implementing BetterK, Blue Sky was experiencing high costs in its current 401(k) plan, some of which were hidden, and very low employee participation. Employees were not at all engaged about the 401(k) plan, and there was no education or service provided to them.

When BetterK entered the picture, with low costs, frequent employee education, and white-glove service, Blue Sky's 401(k) plan came alive.

"Before we hired Rebalance BetterK to take over our plan, our 401(k) retirement plan was just traditional," said Blue Sky CFO Matt Walsh. "Since we implemented BetterK, our results have been spectacular. The best part of all is there is a genuine excitement about the 401(k) plan among our employees. We expect this to decrease employee turnover and to increase our ability to attract top talent."

BetterK is Rebalance's innovative 401(k) plan, designed to dramatically improve investment options for small business owners and their employees. The BetterK team works with small businesses throughout the U.S. to help lower 401(k) plan fees, provide stellar service and education, and increase employee engagement and participation.

"Blue Sky's success story is one that we are quite proud of here at Rebalance BetterK," said David Ranney, Vice President, Rebalance, BetterK. "The company had a very generous 401(k) plan, and they just were not getting the results they hoped for because they did not have an engaged financial advisor. Through a commitment to customer service, education, and building excitement about the 401(k) plan, we have been able to achieve great results, with more to come. This partnership is the embodiment of Rebalance. We are living up to our core tenet of helping Blue Sky employees live well and retire with more."

About Rebalance

Rebalance is an award-winning investment firm that provides its clients with access to a fundamentally different and better set of investment options. For individual consumers, Rebalance360 combines world-class investing, financial planning, and personalized advice into a powerful and transformative approach to wealth management. Small business clients trust the firm's BetterK offering to help them reduce their 401(k) fees by up to 50%, improve employee participation, and "bring alive" employer-based retirement savings plans.

The firm's innovative solutions and team leadership have been profiled in such top-tier media outlets as The Wall Street Journal, CNBC, FOX Business, NPR, The New York Times, MSNBC, PBS and CBS among others. In 2015, the U.S Senate invited Managing Director Scott Puritz to testify regarding new fiduciary rules designed to make the investments of Americans safer, and he is the only financial advisor in the U.S. ever to testify on such an important issue. In 2018, Rebalance was honored by Schwab's Pacesetter IMPACT Award™ for Innovation and Growth.

The Rebalance Investment Committee is anchored by four of the most respected experts in the finance world: Professor Emeritus Burton Malkiel, the world-renowned Senior Economist at Princeton University and author of A Random Walk Down Wall Street; Dr. Charley Ellis, the former longtime chairman of the Yale University Endowment; Jay Vivian, the former Managing Director of IBM's $100+ billion in retirement investment funds for more than 300,000 employees worldwide; and Kristi Craig, CFA, the first-ever Chief Investment Officer of the National Geographic Society, where she oversees a $1.4 billion endowment.

Rebalance is headquartered in Bethesda, Md. and Palo Alto, Calif., currently serves more than 600 clients and manages more than $1.3 billion of their financial assets.

About Blue Sky Specialty Pharmacy

With locations in Mount Pleasant, SC, Daphne, AL, and Charlotte, NC, Blue Sky Specialty Pharmacy was founded with the vision to re-imagine pharmacy as we know it. Our goal is to create a meaningful and enduring impact on our practices and patients and to alleviate the administrative burden and headaches associated with specialty treatments so our practices and providers can focus on treating patients.

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