Seeking Insights on Project Tracking Software (PensionPro vs PensionPal)

[John Smith]

Hi,

I’m exploring project tracking software options commonly used in the 401(k) industry—specifically PensionPro and PensionPal—and would really appreciate some insights.

I have a few questions I’m hoping to get thoughts on:

1.     From your experience, which platform is more convenient and user-friendly for daily operations?

2.     What is the typical training curve for new users? How long might it take for a team to get fully comfortable using it?

3.     What are the estimated pricing models—ideally per user, per year?

4.     Are there any strong alternatives worth considering in this space?

5.     Are there any potential drawbacks or limitations I should be aware of before committing to one?

Any knowledge or experience sharing would be extremely helpful.

Thanks in advance!

Best regards!

[BPG916]

Hi John, 

I have used PensionPro in the past and we recently (earlier this year) migrated over to Stax.ai. I have not used PensionPal so I don't have any valuable insight there. 

But what I CAN provide is that Stax.ai far outshines PensionPro in almost all areas. Where PensionPro does a good job (in my opinion) is their partnerships with other retirement plan companies such as American TCS, Finch and Payroll Integrations (for automated census data collection), and Plan Notice. Also (in my opinion), they had to partner with companies like these because of their shortcomings in their base software.  

To answer your questions:

1.     From your experience, which platform is more convenient and user-friendly for daily operations?

-I found PensionPro software convenient for Project tracking, but not super user friendly (like Stax.ai). I still felt like total integration from all daily tasks (CRM, client communication, Plan Sponsor task lists, etc) was missing from PensionPro when I used it. 

2.     What is the typical training curve for new users? How long might it take for a team to get fully comfortable using it?

-I feel like there can be an extensive learning curve, but it all depends on you and your team and how "tech savvy" you may be - and how many of the features you want to incorporate. Additionally, migrating data across from your other platforms can be daunting. With Stax.ai, I wanted to use everything available at my disposal in their software, so I did quite a bit of "building" and "migrating". I believe the time savings benefits for me in the near future (testing season) will pay for itself multiple times over. Additionally, I tell people that some of the embedded features (like automated emails, notficiations, etc) help us as TPAs help Plan Sponsors be better Plan Sponsors. Their software has really helped me educate, inform and track in a much more efficient way, without using multiple platforms. 

3.     What are the estimated pricing models—ideally per user, per year?

-PensionPro was $200-$300 per month if I remember correctly, but they have tiered pricing for different subscriptions depending on how many features you want/need. I was on the "Team" subscription. I believe some of this pricing has changed now that they've added new partners like 7 Simple Machines (Dynamis) for ai and census data collection through Finch or Payroll Integrations. 

4.     Are there any strong alternatives worth considering in this space?

-I would HIGHLY recommend looking at Stax.ai. The usability is top notch, the customer support is incredible, and the ai focused growth that ties in email, CRM and project tracking all into one is a total game changer. I believe Stax.ai is revolutionizing the industry with their Cx platform and will continue to develop into a "one stop shop" if you will. For example, their new 5500 software was a game changer for me. All done through an (expertly) branded client portal, you can upload a prepared 5500, have them sign and submit electronically... and on the back end it track the progress every step of the way WHILE sending reminder emails for incomplete tasks. Then, all emails, communication, project tasks, individual tasks are all recorded on the back end (CRM) for ultimate workflow efficiency and project tracking. Additionally, for any annual notices that need to be sent out, you also do that all through the client portal. The Plan Sponsors can see, download, and distribute all notices. Futhermore, then can see (from the client portal) who has opened the notice and who has saved it. The amount of data we have for audit tracking with this type of technology is incredible. I automate quite a bit of emails going out, purely for convenience and time savings. For example, on the 5500s, when a client completes their client task and submits the 5500 electronically... an automated email gets sent to the Plan Sponsor confirming their submission. Also - the census data collection feature is much more user friendly (both for the TPA and the client) and has some (not all-more to come) recordkeeping data directly integrated into their client portal. They can track asset balances, participants, etc. all from one place. Highly recommend. 

5.     Are there any potential drawbacks or limitations I should be aware of before committing to one?

-The biggest drawback is the time that it takes to get all the appropriate data into the system for project tracking, and then getting each one of the plan sponsors onto the new portal, connected to payroll and everything else. Depending on how many plans you have, this can be a daunting task (no matter which provider you go through). Some may balk at pricing - but I believe the price is fair and the time savings (and feature rich options for Plan Sponsors) will far outweigh the costs of using this software.

As you can tell, I'm a bit of a fanboy of Stax.ai currently, and I've barely touched on all of the standard/included features... but it's worth your while to check them out. They still have some kinks to work out as they constantly develop the software, but their team is very responsive and committed. I don't see any other company touching them and their services within the next few years... particularly if you're into the whole AI thing. I believe as we come up to the end of the year (now that I have all projects built and Plan Sponsors integrated into the system) that the time savings alone with Stax.ai is worth its weight in gold... not to mention the benefits it provides each individual Plan Sponsor. 

https://stax.ai/client-experience

[Karen Whitfield]

Thank you so much for the kind words and the shout-out. It truly means a lot to me (I work at Stax.ai) and the entire Stax.ai team. We’re incredibly proud of what we’ve built, and even more proud of how we built it: side-by-side with multiple TPAs, incorporating their feedback at every stage to ensure the system solves real, everyday challenges.

Stax.ai brings CRM, emails, tasks, plan-sponsor communication, and reporting into one clean, unified interface. It provides real-time audit tracking, powerful workflow automation, and full visibility for both the TPA team and the plan sponsor. We know that adopting a new system can be daunting, so we focus heavily on guided onboarding, pre-built templates, and responsive support.

Most teams are up and running quickly, but the pace really depends on the breadth of features you decide to roll out.

Compared to alternatives like PensionPro, we’ve designed Stax.ai to go beyond project tracking with AI-powered workflow orchestration, automated notice delivery, 5500 management, robust portal analytics, and tools to streamline plan-sponsor communication. Like any comprehensive platform, there’s an initial setup effort, especially with client and plan-sponsor data, but we’ve invested heavily in making that process as smooth as possible.

If it would be helpful, I’d be happy to arrange a quick demo or connect you with a TPA currently using Stax.ai (but definitely reach out to BPG916 - not sure who you are, but you seem to have a great handle on how to do things with Stax.ai) so you can hear firsthand how it’s working for them.