We are excited to announce that Vestwell has acquired Accrue 401k. As a result, plans currently administered by Accrue have transitioned to Vestwell, a leading retirement platform known for its modern technology and excellent service.
Please review the frequently asked questions below for essential details regarding what this means for your 401(k) plan.
General questions about this transition
Why did this transition happening?
Vestwell entered into an agreement to acquire the 401(k) business from Accrue to consolidate retirement administration services. This move combines your plan's existing features with Vestwell's modern retirement platform, and provides your plan with continued dedicated support and advanced technology.
Why did Accrue select Vestwell?
After an extensive review of leading retirement providers, we’ve selected Vestwell as the new home for your company’s retirement plan and the partner best equipped to uphold that commitment.
Vestwell is a trusted modern savings platform powering retirement, education, emergency savings, and more for over 350,000 employers as well as state programs, advisors, and leading financial institutions.
With this move, your plan will gain access to Vestwell’s enhanced digital tools, multilingual support, compliance and administration services, and a broad suite of workplace savings benefits.
When will the transition take place?
The transition from Accrue to Vestwell is expected to take place between March 4 and May 6. This phased approach allows the Vestwell teams to give each plan the attention it deserves while minimizing risk.
Rest assured, Vestwell will communicate a specific timeline to all plan trustees via email once this information is available. Accrue will continue to administer your plan until the transition occurs.
Will my 401(k) plan be closed?
No. Your existing 401(k) plan is not being terminated. It is simply being moved to Vestwell who will manage the recordkeeping, compliance, and participant services after closing. Your plan’s assets will be transferred securely to the new platform.
Is there any action required to transfer my plan?
No action is required. As the transfer period approaches, Vestwell will be reaching out with information for your review, registration instructions for the Vestwell platform, and details, such as customary blackout periods during the transfer of your plan assets.
If you have any questions, Vestwell’s team is available to connect before, during, and after the transition, and you’ll have access to dedicated support throughout the process.
Plan details and administration
Do I need to re-register or create a new account?
Yes. All administrators and participants should have received registration instructions directly from Vestwell on how to access the new 401(k) portal. You will need to create new Vestwell credentials and register for the platform.
Will my payroll integration be affected?
No, your payroll provider will remain available. Vestwell has integrations with all the same payroll providers that Accrue supports today. Through their nearly 200 payroll connections, they deliver a secure, modern, and connected retirement experience for employers and employees alike.
Plans with certain payroll providers may need to reestablish their connection, but detailed instructions will be provided by Vestwell as needed.
Will my plan features (e.g., matching, vesting schedule) remain the same?
Yes. Vesting schedules, employer match formulas, eligibility requirements, and other core plan design features are part of your official plan document, and they will not change as a result of the administrative transfer. Vestwell will administer your plan according to the terms of your current plan document.
However, you will have expanded flexibility with your plan design choices as your needs evolve.
Will my current fees increase as a result of this transition?
No. Your current plan pricing will remain the same as your previous plan fees with Guideline and Accrue 401k. There will be no change to your plan base fee or participant fees as a result of this transition.
For new plan pricing, see here.
Will our plans investment lineup change?
No. Your plan investment lineup will not change during the transition. However, at Vestwell, employers will also have access to over 19,000 funds, as well as additional investment options, including self-directed brokerage accounts. These accounts allow employees to invest their retirement savings in a broad range of assets via a linked external brokerage account.
Will Vestwell support legally related groups and multi-EIN businesses?
Yes. Vestwell supports retirement plans that cover multiple business entities under different Employer Identification Numbers (EINs) in varying locations, such as franchises.
Will employees have access to a mobile app?
Yes. Vestwell offers a mobile savers app. Anything employees can do on their web portal, they can do on the mobile app.
Support and additional info
Who do I contact for support?
All plan administration and participant support will be handled by Vestwell. Vestwell offers personalized, responsive support in 240+ languages. Plus, you and your team will have access to 24/7 AI chat assistance for instant answers.
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Where can I learn more about Vestwell?
You can find out more about Vestwell at their website, www.vestwell.com, or search their Help Center for specific questions and FAQs.
For additional information related to this transition, you can view Vestwell’s transition hub.