Trusted offers a 401(k) retirement plan enabling our nurses to save for retirement!

We know how important it is to have access to robust benefits that support the whole you - today and in the future. We’ve teamed up with Betterment to enable you to seamlessly navigate contributing to and managing your financial future, through a 401(k) and more.

See below for specifics on the Trusted 401(k) Plan and review the Trusted 401k Basics Webinar.

All Trusted Nurses are eligible to opt-in to make contributions by setting up a Betterment account and setting deferral amounts. Please note that there will be no auto-enrollment and creating an account through Betterment will be the only way to make 401(k) contributions under the Trusted plan.

Additionally, Trusted Nurses who meet the following qualifications will have the opportunity to receive an employer match on their contributions weekly. Trusted will match 100% on the first 3% of contributions and 50% on the next 2%.

To qualify for Trusted employer matching for the 2023 Plan Year, Trusted Nurses must:

What is a 401(k)?

Check out 401k Basics for an overview and the details on what you need to know about a 401(k) retirement account.

What vendor will we be using?

The 401(k) will be available via Betterment.

What if I did not receive the email to sign-up?

If you don't receive an invite email within 5 days of your employment start date, it is likely because you have an existing Betterment account (personal investment or prior employer 401k). The invite to link your Trusted 401(k) should be sent to the pre-existing email on file with Betterment. Please login through that link to the existing account.
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​If you do not have access to that email, please contact support@betterment.com asking them to change your email account to your trusted email and resend you an invite.

How do I know how many hours I’ve worked with Trusted?

You can track your total number of Trusted hours worked in ADP and on your pay statement (this is not tracked in the Trusted App). This is indicated as “Lifetm Wrk Hrs.”

How are deductions applied?

Deductions, whether a flat amount or a percentage, apply to all gross wages, including bonuses or supplemental income. Trusted is not able to alter or adjust deductions and any changes must and can be made by employees directly in Betterment. Please be careful of elections greater than 85-90% for your 401k elections as your gross wages would still need to cover federal, social security, medicare, state and local taxes where applicable. As well as any elected medical, dental or vision benefits.

Will the hours I’ve already worked with Trusted count toward the 1,000 hours?

If you worked with Trusted prior to 2022 for over 1,000 hours with a single entity, you will be qualified for employer matching. If you return to Trusted before a five-year break in service, you’ll remain eligible for the match.

Will I still be eligible for matching if I leave Trusted and come back?

As long as you have worked with a single Trusted entity prior to 2022 for over 1,000 hours, you will be qualified for employer matching if you return to Trusted before a five-year break in service.

What if I stop working with Trusted?

Once you have an account with Betterment, you can maintain it even after employment with Trusted unless you choose to roll it over into another retirement account.

Are there any fees I will incur?

The management fee for 401(k) is 0.18% of the account balance, accrued daily. For more information, please see the fee disclosure within your Betterment account.

When will the contributions be effective?

The Trusted 401k plan contributions will begin January 14, 2022. Your 401(k) contribution must be set up or your contribution rate changed the Friday prior to the pay date you want it to be effective

How does vesting work with the Trusted 401k?

You are always fully (100%) vested in your 401(k) Account, Rollover Contribution Account, Employer Matching Contribution Account, Safe Harbor Matching Contribution Account and Non-Elective Contribution Account.

What if I don’t want a 401(k)?

The Trusted 401(k) is opt-in only and there is no requirement that you create a Betterment retirement account.

Will I have to reset my contributions for each employment/assignment with Trusted?

You will not have to reset contributions with each Trusted assignment. Once you set up your account with a deferral rate, that rate will remain. When you start another assignment with Trusted the previously elected deferral rate will be applied and the corresponding deductions taken. For example, if you set your deferral rate to 3%, that will continue to be your rate until it is changed.

What if I have questions about my contributions or deductions in ADP?

Reach out to your Care Team via Inbox and we’ll ensure you get the help you need!

When will I be able to set up my 401(k) in Betterment?

You will receive an email from Betterment to set up an account about one week before your assignment start date.

Will my deferral show up on my pay preview?

Pay previews display only earnings and stipends. For deductions for 401(k), medical, dental, vision, state, and local taxes, please refer to ADP.

Will my stipends be counted towards my income?

Stipends are not considered income as they are considered a reimbursement, so this amount would not apply toward the $135k eligibility mark. Only taxable income would apply!

Does Trusted allow 401k loans?

At this time Trusted's 401k plan through Betterment does not allow loans.

When are 401(k) distribution requests approved?

Distribution requests are reviewed and approved once a week on Friday by Trusted Payroll.

Looking for more info on how to sign up? Check out this article: How do I enroll in the 401(k) with Betterment?

For additional support, see: Who should I contact with questions about my 401(k)?