Lendtable replaces funds withheld from your paycheck to allow you to receive your full employer 401(k) match without using your own funds. That means that when you begin using Lendtable's 401(k)+ service, you'll need to set your contributions to the maximum amount your employer will match.

Lendtable cannot set or change these contributions for you.

So, how do I set or change my contribution?

When you joined the company, your employer should have provided you with information about which retirement provider they use to manage your fund. Some common providers are Fidelity, Empower Retirement, and Vanguard.

If you aren't sure who your provider is or how to access your account, all of this information should be available from your HR or benefits manager. Once you have your log in credentials, follow the steps below:

  1. Log in to your 401(k) provider.

  2. Change your contribution percentage. This is the percentage of your income that will be withheld from your paycheck each month and contributed to your 401(k) on your behalf.

  3. Set your contribution to the maximum percentage that your employer will match.
    Note: Many employers will only match pre-tax and Roth 401(k) contributions and not after-tax contributions, so before you make this choice, ensure that this doesn't apply to you.

How do I know the maximum I can contribute to receive my full employer match?

Lendtable will always approve your application to receive your entire employer match. When you log into your retirement provider, they should have this amount listed for you. You'll also be able to find this within your employer's retirement policy.

Look for the total contribution that your employer will match. Many employers offer tiered matching, meaning that they will match at different rates up to different income percentages.

Here's an example:
The first 3% is matched dollar-for-dollar by your agency or service; the next 2% is matched at 50 cents on the dollar. This means that when you contribute 5% of your basic pay, your agency or service contributes an amount equal to 4% of your basic pay to your account.

This means that you would need to set your contribution to 5% of your income in order to receive your full employer match.

While using Lendtable you must keep your contribution percentage to max out your employer's match. This will ensure that you can continue to receive your Lendtable payouts. If you have any issues accessing your employer-sponsored retirement account, please contact your HR or benefits administrator or reference your 401(k) policy.

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