401(k) Plan

Our 401(k) Plan, administered by Fidelity, helps you prepare for retirement by offering an easy, tax-advantaged way to save for your future financial needs.

Note: If you are enrolled in any of the following pension plans through Green Dot, you are not eligible for the 401(k) match:

  • CalPERS
  • CalSTRS

If you are a temporary/seasonal employee, please contact the People Team for eligibility.

Why Participate?

  • Company matching contributions: If you do not participate in the CalSTRS or CalPERS Pension Plan, Green Dot matches 100% of your contributions to the plan, up to 4% of your eligible pay after one year of employment and 1,000 hours — that’s free money to help build your retirement savings!
  • Two contribution options: You can make before-tax contributions (for current tax savings), Roth 401(k) after-tax contributions (for future tax savings), or a combination of both.
  • Wide range of investment options: Customize your own portfolio or keep it simple by choosing a single target-date fund.
  • Convenient payroll deductions: It’s easy and automatic to build the savings you’ll need for your future.

How to Enroll

To enroll in the Green Dot 401(k) plan, you must first confirm your eligibility to participate with HR. Once HR has confirmed your eligibility, visit Fidelity to enroll.

Note: Once you are enrolled via Fidelity’s website, it may take 1-2 pay periods for payroll deductions take effect.

Green Dot 401(k) Contributions

To support your retirement saving efforts, Green Dot matches 100% of your contributions to the plan, up to 4% of your eligible pay – if you do not participate in CalSTRS/CalPERS and after you complete one year of service in which you worked at least 1,000 hours during a 12-month period, beginning with your date of hire and ending with your date of hire anniversary.

Note: If you are enrolled in CalSTRS or CalPERS through Green Dot, you are eligible to contribute to the 401(k). however, you are not eligible to receive the company match. If you are a Green Dot California Home Office employee, you are eligible to receive the 401(k) match, up to 4%, in the form of a discretionary earning.

Here’s how the company match works:

When Can I Participate in the 401(k) Plan?

You are eligible to make employee contributions to the 401(k) Plan on the first day of the month following 30 days of employment. After one year of employment, Green Dot will begin to match your contributions 100%, up to a maximum of 4% of your eligible pay that you contribute to the plan. To enroll, visit Fidelity or call 800.835.5097.

Catch Up!

It’s not too late to make up for lost time. If you’ll be 50 or older this year, take advantage of the opportunity to contribute up to an additional $7,500 in 2023.

Have You Named a Beneficiary?

When you select a beneficiary, you can be sure that your assets will go where you want them to. Keeping up-to-date beneficiary information on all your accounts is an important way to make sure your savings goes to the individual or individuals, trust, or organization you choose. It’s easy to do and take only a few minutes online. Select your Beneficiary

Your 401(k) Contributions

You may contribute between 1% and 100% of your eligible pay to your 401(k) Plan account, up to annual IRS limits.
  • The current IRS annual contribution limit is $22,500. You can make additional catch-up contributions of up to $7,500 if you’re age 50 or older this year.
  • These limits apply to your before-tax contributions and Roth 401(k) after-tax contributions combined. What’s the difference?

Manage your 401(k) account

Visit the Fidelity website to manage your 401(k) account:

    • Check your balance.
    • Change your contribution rate.
    • Manage your investments.
    • Update your beneficiary.
    • Use planning tools and calculators.
    • Access forms and documents.


Vesting is another way of saying “how much of the money is yours to keep if you leave the company.” You are always 100% vested in your own contributions, including any investment gains and losses on the money. You are 100% vested in the matching contributions you receive from Green Dot after you complete one year of service.

401(k) Tools and Resources

Besides access to online transactions and account information, your plan’s website offers a wealth of planning resources. Visit Fidelity for:

  • Welcome to your NetBenefits – reviews how to access, how to get started, managing your elections, and available tools.
  • Details on all your investment options, including current prices and historical performance.
  • Online account statements covering any time period you specify (up to 24 months) and featuring your personal rate of return.
  • Online tutorials on everything from investing basics to retirement income planning. These are self-guided modules you take at your own pace. They can make plan participation a more rewarding experience and you a more educated investor.
  • The Fidelity Take Home Pay Calculator shows how affordable it can be to invest in your plan. Simply enter the amount you might want to contribute on a before-tax basis and see how it impacts your pay. You’ll find it in the Library on NetBenefits.

Withdrawals and Loans

The money in your account is intended as a long-term investment to help you prepare for your financial needs in retirement. However, under certain circumstances, you may be able to access money from your account before reaching retirement age. For more information, visit Fidelity or call 800.835.5097.

For assistance, call the Fidelity Retirement Benefits Line at 800.835.5097.

Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 800.835.5097 for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully. Investing involves risk, including the risk of loss.