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How does an employee enroll in the 401(k) plan?

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The enrollment process depends on whether your plan has automatic enrollment.

  • If your plan has automatic enrollment, employees are automatically enrolled at your set contribution rate. They can adjust this rate by claiming their account through the invitation email sent to them.
  • If your plan does not have automatic enrollment, employees must claim their account via the invitation email and set their contribution rate by following these steps:
    • Via web browser: Select Retirement goal from the left-hand menu → Overview → Automatic deposit → Edit.
    • Via the Betterment mobile app: Select Retirement goal from the home screen → Recurring Transactions → Tap the transaction you wish to edit → Verify your identity.