What is the new reimbursement program?

Please note, we are migrating customers in a gradual process. For customers starting Sept. 1st, the information below remains relevant. 

Lendtable will reimburse the amount you contributed to your 401(k) and ESPP each paycheck. This will require you to submit your most recent pay stub every time you get paid, within 7 days of your pay day. Once you submit your pay stub, we will review it within 24 hours.

We then will reimburse your 401(k) and ESPP contributions and send the amount into your checking account within 1-3 business days assuming your pay stub has been verified. You no longer have to wait until the 1st and 15th of the month to receive your reimbursement.

What benefits do I receive from this change?

It is much easier to remember to submit your pay stub each time you get paid versus an arbitrary date we would set. We will send emails and messages to remind you to submit your pay stub so you can get your contributions reimbursed quickly. 

After speaking to many of you, we found out receiving your deposits sooner will help with short-term financial expenses and goals. Therefore, once you receive your pay stub, submit it and you’ll receive your reimbursement in 1-3 business days.

You are now able to contribute any amount to your 401(k) and/or ESPP up to the cap, which is the max contribution rate or dollar amount your plan supports for receiving 401(k) match dollars or ESPP discounted shares. As long as you continue contributing to your 401(k) and/or ESPP and submit your pay stub each time you’re paid, we will reimburse you and not stop the service because your contribution amounts vary.

What will happen to my existing balances?

Your existing balances will continue to grow as each reimbursement is distributed to you.