56 employees reported this benefit
Hyland offers a 401(k) retirement savings plan to employees.
Company match is great, flexible options
Covered most of my usage. Not sure whether it is a good one or bad one.
401k is provided by Vanguard which has low fees and great options. Hyland matches 50% of the first 6% of your salary contributed.
Easy to start and contribute to
Since it switched investment companies the fees are milking the saving of the employees, My 401k is a lot less then it was 2 years ago.
New 401k Plan in 2016 that caused them to change 401k providers. Many employees lost a lot of money. Those in charge of the plan at Hyland are retiring within a few years and are maximizing 401k returns in their best interest for retirement. Younger employees that pay into the plan will suffer long term losses under the new plan provider and investments.
A nice diverse package to choos from.
50 cents to the dollar unto 6%
It is a cookie-cutter corporate plan through Principal financial. I am very unhappy with the high fees and commissions associated with the limited index funds you are allowed to choose. Moreover, my returns have lagged the overall markets for the duration of my employment. For this reason I only invest 3% of my pay to get the company match (free money on the table; use it or lose it). There are constant opportunities to speak with an advisor from Principal on site at work, but most of the time they tell you to invest more in the funds which earn them more commissions. I believe that Social Security will be completely gone by the time I retire. My 401k will provide probably 10-20% of my retirement income. For the rest: I max out a Roth IRA and HSA as these returns/tax advantages are fantastic. In addtion I am investing in individual stocks through ScottTrade, index funds through Wealthfront, and peer lending through Prosper.com.
It's nice that it is there but it is only 50% match up to 3% of your contribution.