Need to understand what a 401(k) is or how to view your Guideline 401(k) details from your Gusto employee account? You're in the right place.
A 401(k) is an employer-sponsored retirement plan that lets eligible employees save and invest part of their paycheck. Contributions are deducted from an employee's gross pay and put into a 401(k) account.
The maximum contribution an employee under 50 can make is $19,500 in 2021, and $20,500 in 2022. If the employee is over 50 they may make an additional catch-up contribution of $6,500.
Custodian: the financial institution holding the 401(k) funds.
Plan participant: an employee enrolled in the 401(k) plan.
Plan sponsor: the designated administrator in charge of the employer’s 401(k) plan.
Enroll in your company's 401(k)
Once you're eligible to participate in your company's 401(k), your 401(k) provider will notify you once you can opt in or out. Your company may have a waiting period that you must meet before you can participate—ask your company admin if you have questions.
View your 401(k) plan details
If you're enrolled in an integrated 401(k) plan with Guideline, Betterment, or Human Interest, you can view your plan's high-level details right from Gusto. To make changes or view your balances in more detail, sign in to your provider's website.
If you don't see a 401(k) in your Benefits tab, you may not be eligible to enroll yet. If you no longer see 401(k) deductions on your paystubs, you may have already met the annual IRS maximum contribution. Sign in to your 401(k) provider's website to make changes or to view more details.
For more info about your plan, contact your company 401(k) administrator.
Change your 401(k) contribution
If your 401(k) is not listed Gusto or on your paystub, start here. This may be because:
For more help, sign in to your online account on your provider's website or call your 401(k) provider directly.