New reimbursement program FAQs Lendtable Team September 13, 2023 02:17 Updated Please note, the article has been updated to reflect the group of customers we're migrating to the new reimbursement program on Sept. 18th. An introduction to the new reimbursement program can be found in this support article, What is the new reimbursement program? Answers to common questions about the program can be found below. What happens to the pay stub I uploaded before Sept. 18th? You will receive your payout on September 15th provided you submitted a pay stub and had it verified by our team. Starting Sept. 18th, you are required to submit your most recent pay stub, every time you get paid. How do I receive reimbursements after Sept. 18th? You will need to upload a pay stub every time you are paid in order for you to reimburse your 401(k) and ESPP contributions. For example, if you’re paid twice a month, you will need to upload a paycheck twice a month to receive your reimbursements. Here is an example of what to expect depending on your pay frequency: Pay Cadence Last pay date First pay date on or after Sept. 18th Reimbursed as early as* Weekly Sept. 15th Sept. 22nd (Friday) Sept. 25th (Monday) Every 2 weeks Sept. 15th Sept. 29th (Friday) Oct. 2nd (Monday) Twice a month Sept. 6th Sept. 20th Sept. 21st Monthly Sept. 20th Sept. 20th Sept. 21st *The examples assume you uploaded your pay stub by your first pay date on or after Sept. 18th. It will take no more than 24 hours to verify your contributions and send your reimbursement. Funds will be deposited into your bank account within 1-3 business days. The examples above are for illustrative purposes only. When do you need my pay stub? You must provide your pay stub no later than 7 days after you are paid. We will ensure it is clear when you must upload your pay stub through email, SMS, and on our website. After 7 days, we will assume you chose to discontinue your service with Lendtable. At that time, your total balance becomes immediately due for payment. When can I expect to be reimbursed? Pay stub verification will not take more than 24 hours, and in most cases will be much faster. The sooner you provide your pay stub, the sooner you will be reimbursed. Is there an easier way for Lendtable to reimburse my contributions? Your pay stub is the only source of truth to review and verify your 401(k) and ESPP contributions. We partnered with Pinwheel, a secure third-party payroll integration, that allows us to find your pay stub on your behalf. All you have to do is sign into your payroll provider through the “Get pay stub from payroll” option we surface in the website. What is a payout vs. reimbursement? We use both words interchangeably. However, we will slowly move away from “payout”. “Reimbursement” is more representative of the fact that Lendtable replaces the funds you contributed to your 401(k) and ESPP plans. Related articles What is the new reimbursement program? How much will I receive in my reimbursement? How do I pay my 401(k) Lendtable balance? How much does it cost to use the ESPP Line of Credit? Who is eligible to use Lendtable? Comments 0 comments Please sign in to leave a comment.