(Bloomberg) --They may not have a 401(k) plan, but Uber drivers will soon be able to open a retirement account right in its app. And in traditional Silicon Valley style, the ride-hailing company is partnering with another startup to do it.

While fighting a pitched court battle to prevent drivers from being classified as employees, Uber has simultaneously joined forces with Betterment to offer them IRAs. Rachel Holt, Uber's regional general manager for the U.S. and Canada, said the option will be fee-free for the first year.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access