Retirement Savings Benefit

As of December 1, 2022, the Law Center sponsors a 401k plan with Guideline and offers this plan to eligible employees as a retirement savings benefit. In this policy, “employees” means Law Center core staff and Model A fiscally sponsored projects. 

Eligibility

All employees hired before December 1, 2022 were immediately eligible to participate on that date. Employees hired after December 1, 2022 become eligible to participate beginning 6 months from their start date, regardless of how many hours they work per week. Guideline is synced with SELC’s Gusto platform (for HR and payroll) so newly hired employees will receive an automated email from Guideline 30 days before their 6 month work anniversary. The email will invite them to create an account on Guideline’s website and either choose to participate in the 401k plan or opt out. Employees who do not take action in response to this email by their 6 month workiversary will be automatically enrolled in the 401k plan with a default deduction of 1% of their salary from each paycheck. More information about auto-enrollment and other topics is available on Guideline’s support website. 

Note for historical purposes: SELC enrolled in CalSavers in Q1 2022 due to a requirement under California law. Once SELC sponsored a 401k plan through Guideline, SELC was no longer eligible to be enrolled in CalSavers and had to cancel its enrollment. Any SELC employees who opened a CalSavers account can still contribute to it on their own - SELC just cannot deduct funds from their paycheck and transfer it to their CalSavers account anymore. More information about CalSavers is here.