Employer Contributions FAQs

Does my company offer an employer contribution or employer match in our 401(k) plan?

Whether your company offers an employer contribution or match depends on your plan type.

• Safe Harbor Plan
  If your company has a Safe Harbor plan, employer match details are strictly defined in your plan document or Summary Plan Description (SPD). Look for the section titled Safe Harbor Matching Contributions.
• Traditional Plan
  Employer match provisions are determined by your company. If you’re unsure of the details, review your internal documentation or confirm with your internal team.

How do I know what type of plan my company has?

You can find your plan type in the plan sponsor dashboard by navigating to 401(k) > Plan Settings. Your plan type will be listed at the top of the Overview section.

How do I find my plan document or Summary Plan Description (SPD)?

Most plan documents can be found in the plan sponsor dashboard by navigating to 401(k) > Documents. If you’re unable to locate a specific document, your Betterment at Work support contact can assist.

What should I do if I have a Traditional plan but can’t find my company’s employer match details?

If you’re unable to locate employer match information in your internal records, please reach out to your Betterment at Work support contact. We can review the plan provisions we have on file.

How do I update the employer match contribution we have on file?

Employer match contributions are subject to IRS and ERISA regulations. Because a change usually requires a legal Plan Amendment, it is important to contact your Betterment at Work support representative directly. We’ll review the requested update with you to ensure it is compliant and guide you through the next steps.