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Here we are, it is November 18th and Thanksgiving is next week. It is my favorite holiday, primarily because of the four F's: Family, Friends, Food, and Football. I just love that there is a holiday devoted to slowing down and showing gratitude to all of those around you. Its origin comes from a 1621 feast celebrated by Plymouth colonists (Pilgrims) and the Native American Wampanoag tribe. They had a three-day feast and were celebrating a successful fall harvest. It included various types of food that would satisfy everyone's unique palette.
In today's world, Thanksgiving comes toward the end of a busy year filled with its unique challenges such as inflation and a government shutdown. Employees across the country worked hard to bring in a successful "harvest" for the company. How can an organization recognize a success harvest in a way that satisfies everyone's unique palette.
What if we took the term "unique palette" and switched from food to finances? Everyone has a unique financial journey. With the same approach of recognizing a successful harvest, what if an employer helped address each employee's unique financial situation? This can be done through a flexible match program offered by Thrive.
An employer would take their existing match formula (or it can be a separate budget) and allow employees to choose where that money should go? It can continue to match their contribution into the retirement plan, or it can match their student loan payments, or their 529 savings, or an Emergency Savings Account.
Imagine being an employee that is strapped with student loan debt and cannot afford to participate in the retirement plan, so they do not receive the match money. How would they feel if they receive a memo like this from their benefits & rewards department.
"We would like to thank you for your contribution to a successful 2025. Every year has its challenges, but this year seemed to be unique as we all dealt with inflation and most recently, the government shutdown. Even with these challenges, you all collaborated and worked hard to meet these challenges head on.
We also appreciate that on top of these issues, everyone has their own unique challenges. With that in mind, we are happy to announce additional flexibility to our retirement plan that will better meet everyone where they are on their personal financial journey.
Currently, or 401(k) match of $1.00/$1.00 to 6% will only match contributions that are made to the 401(k) plan. If you cannot save in the 401(k) plan, then you do not receive this matching contribution. Beginning on January 1, 2026, you can choose where you would like the matching contribution to go. It can continue to match your 401(k) contribution, or it can match your student loan payments, or 529 college savings, or an emergency savings account.
We hope this expansion to our 401(k) plan is appreciated by everyone and helps address your unique financial needs."
