When your employer switches to a Betterment 401(k), employees go through a conversion process. During this process, the funds that you held at your previous 401(k) will be transferred to cash in order to move them to Betterment and into your new investment portfolio.
A conversion triggers a “blackout” period, during which you will not have access to your funds. You cannot change investment elections, contribute to, or withdraw from your 401(k) at your prior provider for a short period while your money is transferred to your Betterment account..
You will receive an email from Betterment with a unique link for you to claim your new account. Once you claim your account, you can change your contribution rate and adjust your investment selection. Take a look at the claiming process with this short video!
If you do not receive an email from Betterment, head to betterment.com/accountaccess to get started.
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