Can I make changes to our 401(k) plan?
Updated over a week ago

Unless required by state law, employers are generally not required to provide 401(k) plans to employees. Therefore, you are free to add, remove, or change plan provisions as you wish.

However, certain plan design features, such as safe harbor contributions and automatic enrollment, can only be added, removed, or changed within the bounds of specific timing and following the notice requirements.

Additionally, while you have the right to amend the plan at any time, such amendments cannot reduce any benefits a participant has already earned. The employee has an unconditional right to all retirement benefits they already earned. Further, amendments generally cannot be made to retroactively affect previous plan years.

For detailed information about the Guideline 401(k) plan features, refer to the Summary Plan Description found in each participant’s dashboard.


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