Financial

401(k)

Everyone needs a nest egg. That’s why Pinterest offers a 401(k) Plan to help you save for retirement. It’s a powerful savings tool that lets you contribute and invest money over time. Our retirement plans are with Vanguard (plan number 094193) and we review the plan periodically to ensure we have the best performing funds and mix, while accounting for employee participation across funds.

Plan Features

Contribute 1-90% of your eligible earnings either pre-tax or Roth options up to $23,000 (or $30,500 if you’re age 50 and over) for 2024. Note that if you elect to contribute on both a pre-tax and Roth basis, pre-tax contributions are deferred first.
Employer match: For every $1 you contribute in your pre-tax and Roth plans, Pinterest will match $0.50 up to $6,000. Contribute a combined total of $12,000 or more in your pre-tax and Roth 401(k) to take advantage of the full match.
After-tax contributions up to 12% of eligible earnings or $41,400, whichever is less. This is based on 12% of $345,000 (maximum eligible compensation per IRS) and Pinterest matching contributions. The total of all contribution sources cannot exceed $76,500 for those age 50 and over or $69,000 for those under age 50. For more details, please refer to this FAQ.
Automatic Roth in-plan conversion option (must turn on this feature at Vanguard).
Auto enrollment contribution rate of 6% with an automatic increase of 2% per year (up to 12%)
Plan rollover from other 401(k) plans or an IRA.
Vanguard Brokerage Service with Ameritrade.

For more plan information, please refer to the Plan Highlights.

Interns are not eligible for this benefit.

Automatic Enrollment

You can register into your Vanguard account after receiving your first paycheck from Pinterest. You’re automatically enrolled in the 401(k) Plan after your first two pay periods as a new hire at a contribution rate of 6%. You are also automatically enrolled in an annual 2% increase (up to 12%). You can change your contribution at any time.

Consider increasing your contribution rate up to the 2024 IRS annual limits:

$23,000/year (if you’re under age 50)
$30,500/year (if you’re age 50 and over)

Want to opt out of the 401(k) plan?

If you wish to opt out, you could do so after your first paycheck (no deductions will be taken out of your first 2 paychecks) and within 31 days of hire. You will have access to the Vanguard website after your first paycheck to make this change. You can also set your deductions to 0%. Instructions for both methods are here.

Updating Your Contribution Amount

To adjust your contribution percentage, login to the Vanguard website and click on the “manage my money” button at the bottom of your page:

Then click on: change my paycheck deduction:

Have a 401(k) account from a previous employer?

To rollover a previous 401(k) account to Pinterest’s 401(k) Plan, follow these instructions (you’ll be prompted to login first).

Excess 401k Contributions

If you’re saving in the Pinterest 401(k) Plan only, we automatically stop your contributions when you hit the limit. So, you don’t need to do anything.

If you entered your contributions with your previous employer in Workday during your onboarding, then Payroll will automatically stop your Pinterest contributions when you hit the IRS limit.

However, if you think you contributed too much via Pinterest and your previous employer, please see this information from Vanguard.

Have other questions?

If you have any other questions, or require information on withdrawals or loans, please call Vanguard at 1-800-523-1188.

For more details on the 401(k) plan check out this recording here.

Disability Insurance

If you become sick or injured and can’t work, disability insurance helps protect your income while you recover.

Short-Term Disability

California Employees

Coverage – 60% of base salary (or OTE for commissioned employees) up to $2,000/week for 12 weeks. From Week 13 to 26, Short Term Disability benefits are based on 60% of salary (or OTE for commissioned employees) up to $1,620/week. Benefits received are tax-free.
When payments begin – Benefit payments begin after you satisfy the seven-day waiting period. This means your payments will kick in seven days after you become disabled.
Please refer to the Statement of Coverage for additional plan information.

Non-California Employees

Coverage – 85% of base salary (or on target earnings for commissioned employees) up to $2,850/week for 12 weeks. From Week 13 to 26, Short Term Disability benefits are based on 80% of base salary (or on target earnings for commissioned employees) up to $2,200/week. Benefits received are taxable.
When payments begin – Benefit payments begin after you satisfy the seven-day waiting period. This means your payments will kick in seven days after you become disabled.
Please refer to the Statement of Coverage for additional plan information.

To take a leave of absence, please contact The Larkin Company, our leave administrator at: pinterestleaves@thelarkincompany.com. Your case manager will be able to answer any questions you have about Pinterest’s leave of absence policies, income replacement benefits, and the laws surrounding leaves.

Long-Term Disability

Long Term Disability (LTD) insurance starts on the 181st day of your disability. Once LTD coverage begins, it pays you up to 66 2/3% of your annual salary (up to $20,000 per month).

Life Insurance

Basic Life and Accidental Death and Dismemberment (AD&D) insurance

Pinterest provides Basic Life and AD&D Insurance at no cost to you. It provides the following coverage:

2x your salary (up to a maximum of $1,000,000)

Voluntary Life and Accidental Death and Dismemberment (AD&D) insurance

As a new hire, when you experience a life event, or during annual benefits Open Enrollment, you may purchase additional coverage life and AD&D insurance up to $1,000,000 (in $10,000 increments). Coverage for your spouse and children is also available for purchase. Please find rates here. If you enroll within 31 days of your hire date, you are entitled to a ‘guarantee issue’ amount. This means that $500,000 for you and $50,000 for your spouse is automatically approved without completing a statement of health. If you were to elect a voluntary coverage that is greater than the guarantee issue amount, you will be prompted to complete an online statement of health in your Workday inbox. To find life plan policy documents, please find the documents here.

Long Term Care

Long term care costs are expensive and generally not covered by health insurance, disability insurance or Medicare, and can take an emotional toll on the caregiver.

Trustmark provides Long Term Care that often helps with activities of daily living that have become difficult due to physical impairments like illness, injury, and aging, or by severe cognitive impairments like Alzheimer’s disease or strokes. LTC insurance doesn’t just mean care in a facility… you can utilize benefits at home too.

Check out this flyer on how to get more information on filing claims, canceling your policy, or if you have any other questions.

If you are already a policy owner you can access your Trustmark Voluntary Benefits via your owner’s portal here.

To learn more, visit Trustmark and sign up to speak with a Consultant.

Pre-Tax FSA and HSA

Flexible Spending Accounts

Flexible Spending Accounts (FSA) are tax-free accounts that can be used for eligible healthcare and dependent care expenses. They let you spend pre-tax money on health care and/or dependent child care expenses. You can set aside pre-tax money from your paycheck directly into an FSA. There are three types of FSAs outlined below. To learn more about FSAs, please visit HealthEquity.

If you have enrolled in one of these plans, you can manage your funds via the Collective Health website (access via Okta) then hop over to HealthEquity via SSO.

Healthcare FSA

Healthcare FSA accounts can be used to pay for eligible out of pocket medical, dental and vision expenses. To find a list of eligible expenses, please visit HealthEquity. For 2024, you can contribute up to $3,050 in pre-tax dollars to the Healthcare FSA. Up to $640 of unused funds from 2024 will rollover to 2025.

Limited Purpose Healthcare FSA

If you enroll in the Blue Shield HSA medical plan, per IRS rules, you can only enroll in a Limited Purpose Healthcare FSA which can only be used on dental and vision out of pocket expenses. For 2024, you can contribute up to $3,050 in pre-tax dollars to the Limited Purpose Healthcare FSA.

Dependent Care FSA

Dependent Care FSA is for eligible expenses (i.e., nanny, daycare, eldercare, etc.) for your qualifying dependent (as claimed on your taxes). Per Pinterest policy, the maximum election for Dependent Care FSA cannot exceed $2,500 in 2024 if your annual earnings were $150,000 or more in 2023. The maximum election for Dependent Care FSA for all other employees is $5,000.

Note: A qualifying dependent may be a child under age 13, a disabled spouse, disabled older child, or an older parent in eldercare.

Health Savings Account

If you enroll in the Blue Shield Health Savings Account (HSA) medical plan, you’re eligible for a Health Savings Account (HSA) that both you and Pinterest can contribute to help pay for your care.

If you have enrolled in a HSA plan, you can manage your funds via the Collective Health website (access via Okta) then hop over to HealthEquity via SSO.

Pinterest Funding

Pinterest contributes $750 annually for individuals and $1,500 annually for families. If you join after the start of the plan year, the Pinterest contributions will be prorated based on your date of hire.

Once you have $1,000 in your HSA account, you can invest the money in your account and watch it grow, tax-free! If you ever decide to leave Pinterest, you will retain access to your account to manage. For 2024 the IRS maximums are:

$4,150 for just you
$8,300 for you + family

If you are 55 or older, you can contribute an additional $1,000 to your account. To learn more about the HSA plan, please visit HealthEquity.

For more details watch this short video about our Pre-Tax funds here.

Additional Financial Resources

No matter what financial goals you’ve set, Pinterest offers programs to help you get there. In addition to 401(k), Life Insurance, and Disability, we also partner with the organizations below so that you and your family can achieve financial well-being no matter your life stage.

New Hire Stipend and Ongoing Expenses

In your first paycheck you will receive a one-time stipend of $1,000 USD (or the local equivalent) to assist with home office set up expenses. There is no need to expense purchases for this initial set up. This stipend is subject to all applicable local payroll taxes. Check out the policy here.

Home Office Expenses

Need to replace or replenish your home office supplies? No problem! Prior to making a purchase, have a conversation with your manager about what you’d like to reimburse. After you’re both aligned, submit your expense via Expensify. Note that reimbursements exceeding $500 will require skip-level manager approval. Find more info here.

PinFlex Connectivity Reimbursement

As part of our PinFlex program, you will receive a reimbursement of $130 to help cover the costs of using your cell phone and home Wi-Fi for business activities. There’s no action required for US employees to receive this reimbursement. You can expect to see it in your first paycheck of the month. More information can be found in our policy

Lyra

Financial Resource Center via Lyra Work Life Services.

Take a financial checkup to determine your financial wellness score.
Browse financial resources like articles and videos that include 45 different calculators for debt, mortgages, savings, taxes, and more.
Talk to a guilt-free, confidential Money Coach to stress less and save more through a free 30-minute phone consult. MSA can help with budgeting, and planning for taxes, debt, retirement, and more. Get 25% off tax services, too. Get started with your coaching benefit by calling 877.505.7147.

Discounts

Time to start saving money! Pinterest is happy to offer PerkSpot, a one-stop-shop for exclusive discounts at many of your favorite national and local merchants! PerkSpot is completely free, and optimized for use on any device: desktops, tablets, and phones. To get started, create an account using your personal email address. Enjoy access to online offers from popular national retailers and Pinterest exclusive discounts.

Can’t find a specific discount? Feel free to suggest one with PerkSpot.

Rocket Lawyer

Whether you’re buying a home, starting a family, working through a landlord dispute, or planning your estate, Rocket Lawyer Legal benefit can help! Register with your Pinterest email address to gain access to the following:

Legal Documents Library: Access Rocket Lawyer’s extensive online legal document library (such as Trust, Power of Attorney, Lease, Child Care Authorization Form)
Attorney Q&A: Submit legal questions on Rocket Lawyer’s legal platform to be answered by their nationwide attorney network
Attorney Phone Consultations: Receive free 30-minute phone consultations with a Rocket Lawyer attorney, on every new legal matter
Attorney Discounts: Receive a 40% discount on an attorney’s hourly billing rate, after your free 30-minute consult

Schwab

Charles Schwab is a Fortune 500 company offering a full-service approach to building and managing investments. As the equity provider of Pinterest, you have access to a full range of investment services offered by Schwab to help you with your financial goals. This includes:

Equity awards consultation team who are available by email, phone or secure chat to answer questions you have about your awards. If you have any questions about your equity, schedule a complimentary consultation here.
Schwab Intelligent Portfolios Premium ™ – Robo-advice meets 1:1 professional guidance. Introducing automated investing with unlimited guidance from a CERTIFIED FINANCIAL PLANNER™ professional at a special low cost for Pinterest employees. Schwab’s robo-advisor builds, monitors, and automatically rebalances a diversified portfolio based on your goals. To learn more: schwab.com/intelligent-pinterest

SoFi Student Loan Refinancing and Home Mortgages

As the leader in student loan refinancing, SoFi has partnered with Pinterest to help you take down student debt with student loan benefits, exclusively for Pinterest employees and their family and friends.

SoFi consolidates and refinances federal and private student loans in order to offer rates customized to you, creating meaningful savings. Upon refinancing through sofi.com/pinterest, Pinterest employees and their family and friends receive a $300 welcome bonus*.

Additional benefits include:

Serious savings: Members save thousands by refinancing.
Low rates: Low variable and fixed rates with 5, 7, 10, 15 and 20-year repayment options.
No extra fees: No application/origination fees or prepayment penalties – ever.
Simplicity: Consolidate all existing student loans (federal and private) into a single loan with one monthly payment.
Support when needed: Access to live customer support 7 days a week.
Membership perks: Exclusive networking events, financial workshops and more.

If you have any questions about SoFi student loan refinancing, please visit sofi.com/pinterest or contact customer service by calling 855.456.7634 or emailing ask@sofi.com. You can also visit the SoFi FAQ page to learn more.

*Additional terms and conditions apply. If you apply and are approved, the interest rate shown in the Final Disclosure Statement will include an additional $300 welcome bonus because of your involvement with a SoFi partner company at the time of loan origination. Offer good for new customers only. Cannot be combined with other rate discounts, with the exception of the 0.25% AutoPay rate discount. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice.

Money Management Educators

Money Management Educators exist to provide personal and family security through financial wellness education. We are committed to being the premier resource for objective information and innovative ideas for our corporate clients and their employees. Schedule your free one hour personal education session with one of our highly qualified financial service professionals by emailing admin@mmeducators.org. The following topics are available:

Savings and Investing
Tax-Favored Investing
Retirement Income Strategies
Wills, Trusts, and Estates
College Education Funding
Wealth Protection
Creative Strategies for Gaining Wealth
Income Real Estate
Mortgage Strategies
Roth 401k