Making a People Operations Wiki on Coda

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Making a People Operations Wiki on Coda

Making a People Operations Wiki on Coda

Benefits

401k

If you don’t find the information you are looking for below, please

submit it here

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Coda 401(k)

Coda offers a 401(k) plan through

Human Interest⁠

Traditional 401k: contributions are "pre-tax," meaning they reduce taxable income, but you’ll get taxed when you decide to withdraw

Roth 401k: made with after-tax income but withdrawals are tax-free

Within your first week you should receive an email (in your coda.io email) from

Human Interest⁠

to activate your 401k account with Coda.

Follow the link in the email to create an account and to take advantage of this employee benefit.

Once you log-in, you can find details about our company plan, check balances, set up contributions, initiate rollovers, and take advantage of built-in investing.

Please note, 401k contributions will be withheld on bonuses if you elect a percent contribution. Flat dollar contributions will NOT be deducted from supplemental pay.

At the moment, Coda does not match contributions.

Check out

Humans Interest’s Resources site⁠

for more information like 401(k) basics, retirement planning, financial wellness, etc.

To rollover a 401(k) from a previous employer,

follow these instructions⁠

Annual Contribution Limits

Contribution limits for 2023: $22,500

For those over the age of 50, you can make an additional catch-up contribution of $7,500 for a total of $30,000

Will Human Interest stop contributions once I hit my limit?

Human Interest will recognize when you’ve hit your annual contribution limit (caveat—new hires with previous company contributions can report this to Human Interest but they do not take responsibility in calculating any excess that may occur). Depending on payroll timing, the flow from system to system may not be caught in time. In instances where you do pass the max annual limit, Human Interest reaches out to the People Ops Team letting us know you’ve over-contributed and our team works to 1. coordinate with payroll to process corrections to make sure your money is returned back to paycheck and 2. will keep you updated on what’s going on. Generally speaking, it’s always good to keep a pulse on your money and accounts to see how close you are to the limit.

Pre-setting your contributions for next year

Human Interest’s system does not allow you to preset your contribution rate for the following year. If you’ve maxed out your contributions for the current year but do not want to risk the 1-2 pay cycle delay when you set the amount at the start of the year, the People team can work with Sequoia One Payroll to pre-set this amount for your first paycheck of the year.

Instructions:

Email [insert email] by early December with your contribution amount (% and whether for Traditional, Roth or Both) and the People Team can provide this change request directly with Sequoia One Payroll. They will be able to make the adjustments internally and pre-set your first paycheck and be ready for the new year.

In January, set your contribution amount to match the information that you've provided to the People Team/Sequoia in December.

If you have any questions or don’t receive the email from Human Interest, please reach out to [email].

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Q&A

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Coda 401(k)

Annual Contribution Limits

Pre-setting your contributions for next year

Q&A

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