Frequently Asked Questions

Employers

  • Q: Is a 401(play)™ plan simple to administer?

    A: Yes, after completing the enrollment form, the initial employee onboarding process is simple and easy. New hires during the plan year need only enroll by clicking on a link that will allow them to sign-up on the 401(play) platform.

  • Q: How much does a 401(play)™ plan cost an Employer?

    A: The cost of a 401(play) Plan depends on the size of your organization.

  • Q: Can we deposit our employees Accrued PTO onto their VFA’s to get them off our balance sheet?

    A: Yes, we have clients that choose to pay PTO in “real-time” to their employees VFA’s. This can all be done through the Employer Portal.

  • Q: As an employer offering a 401(play)™ plan, do I need to do anything when an employee leaves?

    No, direct deposits will cease after their final paycheck. Their 401(play)™ online profile, as well as their Visa/Mastercard prepaid debit card, will stay active. It will be up to the departing employee to link their 401(play)™ with a new employer.

  • Q: Is there an option to do a Match for our employees?

    A: Yes, you can do a percentage match or set a static amount to contribute each pay period. You can even give one-off contributions for performance/bonuses.

Employees

  • Q: What is 401(play)™?

    A: 401(play)™ is a program that we have developed to help you save for your travel. It allows you to set aside a portion of your paycheck into a Vacation Funding account (or “VFA”). You may elect to set aside a dollar amount or a percentage of your paycheck into your VFA.

  • Q: Are 401(play)™ contributions to my VFA tax-free or tax-deferred?

    A: No. All 401(play)™ contributions to your VFA are made from your net earnings (after taxes have been withheld by your employer).

  • Q: Where are my funds deducted under the 401(play)™ plan held?

    Money in your Vacation Funding Account (or “VFA”) is held at our FDIC insured financial institution.

  • Q: Is my money FDIC insured?

    Yes, all of your funds are FDIC insured.

  • Q: How do I access my money?

    A: Your funds are easily accessed by using the Visa/Mastercard prepaid debit card that is mailed to you after enrollment. You may spend them for travel or any other purchase that you would like to make. You may even withdraw cash at an ATM. (Fees may apply for cash withdrawals.)