ForUsAll partners with CoinDesk Indices to increase retirement savings among younger workers

First index-based digital asset offering available on a 401(k) platform in the United States

NEW YORK, March 2, 2023 /PRNewswire/ -- ForUsAll, a modern small business 401(k) provider, today announced that employees will soon be able to invest part of their 401(k) directly into the constituents of the CoinDesk Market Select Index (CMIS). This option will provide 401(k) investors the freedom to create diversified portfolios using some of the largest and most liquid digital assets. This is the first index-based digital asset offering available on a 401(k) platform in the United States.

ForUsAll was the first retirement provider to offer 401(k) investors direct access to cryptocurrencies. By expanding the available universe to include the CMIS constituents, 401(k) savers will now be able to invest in its 28 underlying constituents.¹

"46% of younger workers want the freedom to invest in the rapid development of blockchain technology. Like many institutional investors, they believe blockchain is a potentially transformative technology," said David Ramirez, CFA, CEO of ForUsAll. "By leveraging CMIS, we can provide sophisticated self-directed investors access to a broad, diversified universe of the largest and most liquid crypto assets."

With the recent Secure Act 2.0 and Safe Harbor 401(k) rules, the Federal Government is encouraging small businesses and startups to offer retirement plans, including tax credits of up to $16,500 to cover the plan for the first three years.

"While new regulations make it easier for employers to offer 401(k)s, getting younger workers to save is harder than ever. Providing access to crypto alongside traditional diversified mutual funds helps us engage the next generation of retirement savers," said David.

To bring this solution to market, ForUsAll has partnered with CoinDesk Indices (CDI), the leading provider of digital asset indices and creator of the Digital Asset Classification Standard (DACS). The index is unique in that it is derived through a taxonomy that assigns eligible digital assets by their use cases to defined industries, industry groups and sectors. Leveraging the DACS, and applying a methodology with select eligibility criteria, the CMIS measures the market capitalization weighted performance of the constituents, currently encompassing 89% of the overall digital asset landscape that include assets from each of the Select Sectors.

"CMIS offers exposure to digital assets with confidence that the assets meet our quality standards intended for tradability. For example, the index rules initially eliminated FTT since it wasn't priced by at least two eligible exchanges," said Jodie Gunzberg, CFA, Managing Director, CoinDesk Indices. "We are thrilled about the partnership with ForUsAll to help them enable access to the digital asset market."

For more information visit www.forusall.com.

Nick Bontkowski, 704-219-9422, [email protected]

ForUsAll is a tech-enabled 401(k) provider that is pioneering the inclusion of cryptocurrency in retirement plans. Founded in 2012 by the same team that helped build Financial Engines, the largest registered investment advisor in the country, ForUsAll's mission is to provide everyday Americans with the tools they need to build a brighter financial future. 

CoinDesk Indices (CDI), a subsidiary of CoinDesk, has been the leading provider of digital asset indices by AUM since 2014. We are driven by precision, rigor, research and a desire to educate the marketplace and empower investors. CoinDesk, a media, events, data, and indices company, is the most influential and trusted platform for the global crypto ecosystem. 

¹Data as of January 4, 2023

CoinDesk Indices, Inc. ("CDI") does not sponsor, endorse, sell, promote, or manage any investment offered by any third party that seeks to provide an investment return based on the performance of any index. CDI is neither an investment adviser nor a commodity trading advisor and makes no representation regarding the advisability of making an investment linked to any CDI index. CDI does not act as a fiduciary. A decision to invest in any asset linked to a CDI index should not be made in reliance on any of the statements set forth in this document or elsewhere by CDI. All content contained or used in any CDI index (the "Content") is owned by CDI and/or its third-party data providers and licensors, unless stated otherwise by CDI. CDI does not guarantee the accuracy, completeness, timeliness, adequacy, validity or availability of any of the Content. CDI is not responsible for any errors or omissions, regardless of the cause, in the results obtained from the use of any of the Content. CDI does not assume any obligation to update the Content following publication in any form or format. ©2023 CoinDesk Indices, Inc. All rights reserved.

SOURCE CoinDesk Inc