How to Set Up Your Vestwell Account

Saver Onboarding Video

You have recently registered your Vestwell account. Now what?

Note: This article is for you if you signed up for your Vestwell account after February 5th, 2024. If you registered for your account prior to 2/05/24, you can learn how to set your retirement plan contributions here, add your beneficiary here, and choose your investment strategy here.  

From the Welcome page, select Set Up My Account. 

You will be prompted to set up your contributions, add your beneficiary, and choose your investment strategy to complete your account setup. 

Set Up Your Contributions

When you set up your contributions, you’re choosing how much money you want to save from each paycheck. Your options will depend on your employer’s plan design. You will typically see 3 of the below contribution options. 

  • Pro Saver: Are you looking to get the most out of your retirement plan and maximize your savings? Contribute 15% of your salary per pay period.
  • Industry Recommended: The industry-recommended contribution amount is 10% per pay period.
  • Starter: If you’re just beginning to save for retirement and want somewhere to start, you can contribute 5% of your salary per pay period.
  • Full Company Match: Depending on the way your plan is set up, your employer may "match" the amount of money you put into your plan based on the amount you contribute. For example, if your employer offers a "3% match," you must contribute 3% or more into your account for them to "match" the full 3% (for a total of 6%).*
  • Keep Your Existing Rate: If your employer is switching their plan to Vestwell from another provider, you may keep your existing contribution rate.
  • Automatic Enrollment: If your plan is set to enroll employees automatically at a certain contribution rate, you will see your plan’s pre-set rate. You can keep this option or select another option.
  • Custom Rates: Click Let me set custom rates to set your own contribution rate. You can choose between pre-tax or Roth contributions, which you can learn more about here.

*Note: Your plan might have a non-elective match, meaning your employer will contribute regardless of what you put into your retirement account. If this is the case, you will see this highlighted on your screen in this step.   

You may also choose not to contribute by selecting I prefer not to save. You will be prompted to acknowledge your decision if you select this option.

Once you make your selection, hit Save & Continue.

Add Your Beneficiary

A beneficiary is a person(s) who receives the remaining vested balance of your retirement plan after your death. 

If you are married, federal law requires that your spouse be your retirement plan's beneficiary unless you obtain a spousal consent form to name a different beneficiary. 

Select Add Beneficiary and input their information. You will be asked to provide your beneficiary’s:

  • First Name
  • Last Name
  • Relationship
  • Social Security Number
  • Phone Number
  • Email
  • Address Line
  • City
  • State
  • Zip Code

When more than one beneficiary is added, you may allocate a percentage of your vested balance to each beneficiary. 

Once your beneficiary is added, hit Save & Continue.  

You may skip this step if you do not have the required information to add your beneficiary by hitting Save & Continue. You can always designate a beneficiary at a later time.

Select Your Investments

In this step, you can choose how you would like to invest the money in your account. The options in this step may vary depending on what your plan program offers. These are a few investment options you may see:

  • Aged-Based: This strategy works around your anticipated retirement year. The allocations become gradually more conservative (less aggressive) as you approach retirement. 
  • Custom Allocations: This strategy allows you to choose which funds to invest in and what percentage of your total investment balance to allot to each. 
  • Risk-Based: This strategy aligns your investments with your stated risk tolerance, allowing you to maintain your chosen level of risk over time.

Note: If your company offers a Goal-Based investment strategy, you will automatically be brought to a quick questionnaire that asks about your current income, your expected retirement age, and your retirement income goal. This investment strategy considers these inputs to display a more personalized investment allocation to help you achieve your retirement income goal. 

Once you have selected your investment strategy, hit Set Up Selected Option.

Finish Investment Setup

Once you have chosen an investment option, follow the remaining prompts and select Set Up to finish. Then, click Continue to Dashboard to navigate to your saver portal.

Congrats! You have now successfully set up your account. If you need assistance, contact Vestwell directly at help@vestwell.com.