Check or change your group plan's withdrawal rules

Overview

Your group plan's withdrawal rules determine when and how employees can access their money while they are still working at your company. Plan administrators have the flexibility to establish these rules to align with their company's savings goals or retirement strategy.

Choosing the right setting for your plan

Not sure which setting fits your plan? Here's a general guide:

• No approval required means less day-to-day admin work for your team, and faster access to funds for your employees when they need them.
• Notifications only keep you in the loop on every withdrawal, without needing to review or act on each one. This is a good option if visibility matters to you but approval isn't necessary.
• Approval required gives you the most oversight, but adds a step for you and a wait time for your employees before funds are released.

Many plans were originally set up with approval required by default. If it's been a while since you reviewed your settings, it may be worth checking whether that's still the right fit for your organization.

How to check or change your withdrawal rules

If you would like to confirm your current withdrawal rules or make any changes to your policy, please follow these steps:

1. Review the Sponsor Plan Implementation form you shared with your dedicated Client Success Manager to check your current permissions. Your organization filled out plan eligibility, offered account types, and withdrawal rules in the Plan specifications section.
2. Reach out to your dedicated Client Success Manager. If you don't have a manager, please email our support team.

Frequently asked questions