Why do I need to review distribution requests?
As the plan sponsor, you play a key role in confirming distributions are processed correctly. Your review helps verify that the request aligns with your plan’s rules and that participant information is accurate before any funds are released.
What types of distributions might you be asked to review?
You may see requests related to:
- Rollovers to another provider
- Hardship withdrawals
- Loans
- Required minimum distributions (RMDs)
- Distributions for terminated employees
What should I look for before approving a request?
Before approving a request, take a moment to check that:
- Employee status – Is the person still active or recently terminated?
- Request type – Does it match what you know about the employee’s eligibility?
- Documentation – If required, has it been provided and is it complete?
- Vesting – Is the vesting percentage accurate based on their hire date or years of service?
If something doesn’t look right, please contact us using the information listed under Resources > Support in your dashboard. We can help correct any issues before the distribution is processed.
For a full overview of what to review, visit our Help Center article.
How do I approve or reject a request?
- Log in to your Betterment at Work account.
- Go to the Tasks tab.
- Select the distribution request.
- Review the request details.
- Choose Approve or Reject based on what you find.
What happens after I approve a request?
Once approved, Betterment will begin processing the distribution. The employee will be notified, and funds will be disbursed based on the method they selected. No further action is needed unless we reach out for additional follow-up.
What happens if I reject a request?
The participant will receive a notification that their request was not approved, but the message will not include your reasoning. It’s common for them to follow up with you directly to ask why.
How should I handle questions from employees?
You can let them know what you saw that prevented approval, such as:
- The employee is still active but submitted a request that requires termination
- Required documentation wasn’t submitted
- The vesting percentage appeared incorrect
If you need help reviewing or correcting a request, reach out to us through your contact listed in Resources > Support.
What if I get an error when trying to approve a distribution request?
If you encounter an error while trying to approve or reject a distribution, contact our support team using the contact information listed under Resources > Support in your dashboard. We’ll help you troubleshoot and make sure the request is processed correctly.
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