Set up 401(k) benefits with Accrue 401k
About 401(k) benefits with Accrue 401k
Square Payroll partners with Accrue 401k to help you offer 401(k) retirement benefits to your employees. Accrue 401k handles the onboarding of your employees, administration, compliance testing, and investment management. All plans of related entities must be administered by Accrue 401k in order to provide compliance testing.
Accrue 401k allows employees to make both traditional pre-tax 401(k) contributions as well as post-tax Roth 401(k) contributions. When you process payroll through Square, contributions and deductions sync automatically each pay run.
Employers can make contributions through Accrue 401k’s employer dashboard. Contributions are calculated pre-tax. You can contribute a percentage of an employee’s gross pay or match an employee’s contribution. Accrue 401k also supports profit sharing contributions.
Before you begin
You can enroll in Accrue 401k directly from your Square Dashboard.
Accrue 401k is a separate partnership from the direct-to-employee benefits accessible to Square Payroll team members. Learn more about how to add employee benefits with Square Payroll.
Any contribution changes should be made directly through Accrue 401k. Any updates are processed on the next pay run. For support with your Accrue 401k plan, visit the Accrue 401k Support Center or reach out to the Accrue 401k Sales team at [email protected].
When you run payroll, Accrue 401k debits for the full 401(k) amount (company contribution and employee deferral) the business day after payroll is processed. Learn more about how to Run payroll for W-2 employees.
Set up 401(k) benefits with Accrue 401k
Sign in to Square Dashboard and go to Staff > Payroll, then select Benefits.
Fine the Retirement tile and click Get Started.
Click Start Setup. Square Payroll syncs your business information with Accrue 401k.
Enroll in the plan and decide how much (if at all) to contribute.
Once you set up a retirement plan, you can set eligibility criteria in Accrue 401k based on minimum age and length of tenure. Once those criteria are met, employees become eligible and Accrue 401k will invite them to enroll via email.