-
Why Keep?
Why Keep
-
Employers
-
Employees
-
- Solutions
- Resources
- About Us
Onboard
Creating a vesting bonus couldn’t be easier. Simply create a free account and a Keep Onboarding Specialist will get you set up in minutes, with zero development needed.
Add Employees
Add employees to your Keep platform via HRIS integration or a spreadsheet, and begin sending personalized bonuses in minutes.
Create Bonuses
Customize and send vesting bonuses to your employees.
- Choose the bonus amount
- Length of vesting schedule
- First vesting cliff
- Vesting cadence thereafter
Once complete, send the vesting bonus contract to the employee. Upon each vesting milestone, the portion that vests is no longer owed by the employee.
Fund Bonuses
Transferring money to fund all your employee bonuses is easy. Transfer money to Keep via ACH within 48 hours of acceptance of the bonus from the employee.
Creating a vesting bonus couldn’t be easier. Simply create a free account and a Keep Onboarding Specialist will get you set up in minutes, with zero development needed.
Add employees to your Keep platform via HRIS integration or a spreadsheet, and begin sending personalized bonuses in minutes.
Customize and send vesting bonuses to your employees.
- Choose the bonus amount
- Length of vesting schedule
- First vesting cliff
- Vesting cadence thereafter
Once complete, send the vesting bonus contract to the employee. Upon each vesting milestone, the portion that vests is no longer owed by the employee.
Transferring money to fund all your employee bonuses is easy. Transfer money to Keep via ACH within 48 hours of acceptance of the bonus from the employee.
Hire top talent
Secure and incent highly sought-after candidates with strong and transparent offers.
Retain employees
Reward employees for their performance and commitment with upfront cash earned over time.
Reduce hiring time and expense
Save time and money by automating manual tasks like bonus tracking, clawbacks, W2 corrections, and more.
Increase productivity
Less turnover equals higher productivity and performance. Achieve your business objectives with a consistent A team.
Help employees achieve goals
Help employees fulfill their financial goals sooner. Reducing financial stress is a powerful motivator.
Manage salary escalation
If you're not compensating employees the way they need, proactively, you unwittingly allow employees to bloat your compensation plan and escalate salaries.
Employee Objectives
- Achieve financial goals earlier. Home down payment, pay debt, etc.
- Enjoy financial freedom.
Take what you want, when you want. - Receive ongoing recognition and rewards for good work
Business Objectives
- Attract great talent for every position, without compromise
- Reduce turnover and incent
employees to perform - Reduce manual administration of bonuses and time-consuming tasks
Questions?
We’ve got answers.
We are here to answer any questions you may have. Please refer to some of our commonly asked questions. Didn’t find what you were looking for? No problem. Visit our help center or contact our friendly sales team.
Employer
Employee
Employer
What is a vesting bonus?
A vesting bonus is upfront cash that is earned over time with a legally enforceable right to repayment. It is structured as a 0% interest loan to facilitate the repayment process in the event of an early employee exit.
At each milestone the portion that vests is no longer owed by the employee. In the event the employee leaves the company, any unvested balance taken by the employee is legally required to be repaid by the employee to Keep. If unpaid within a specified time period, the balance converts into an interest-bearing loan. Terms and conditions apply.
Is Keep available outside the United States?
Keep is available everywhere. Contact a Keep specialist to discuss your specific hiring or retention challenge.
Are employees legally responsible for repayment?
Yes. If an employee receives cash and the retention period is not fully fulfilled, then any portion that has not vested must be repaid within a 60-day repayment period. If, after the Full Repayment Period, there is a remaining balance, this balance converts to a 1 or 3 year (employee choice) interest-bearing installment loan, paid monthly over 12 or 36 months, as the case may be. If the employee is late on their monthly payments, their account will default and Keep will collect any remaining balance.
Are employee and corporate taxes applied?
Keep escrows the appropriate percentage of the loan to be taxed and withholds them when loan proceeds are deposited into an employee account.
How does funding the bonuses work?
The employer can fund the bonuses themselves or Keep can fund the loans with your guarantee. If Keep is asked to fund the loans, there will be an additional cost and Keep will underwrite your company. Keep accept payments via ACH and wire.
How can we start delivering vesting bonuses at my company?
To get started, simply sign up through our website. A Keep team member will contact you to help answer any questions.
Employee
Can I transfer the funds to my bank?
Yes. After receiving a signed agreement between employee and employer, Keep will complete any regulatory review required, ensure that your employer is current on its obligations with Keep, and fund your loan within 1-2 days thereafter. We will notify you when we have initiated funding. Keep vesting bonus funds can be transferred to your bank account once this process is completed.
What happens if I leave the company?
If you have withdrawn more cash than has vested at the date of your departure from your company, you are legally required to pay back the total remaining balance on your vesting schedule. There is a 60-day repayment period at 0% interest before the loan converts into a 1 or 3 year interested-bearing loan, divided into monthly payments.
Why is this called a forgivable loan?
Keep vesting bonuses are structured as loans in order to facilitate the vesting process, and in the event of early employee exits, the collections process. However, these loans are offered at 0% interest during your tenure at your company and are fully prepaid by your employer.
Can I spend money that hasn’t vested?
Yes. Once your Keep vesting bonus agreement has been signed by both parties, you can access 100% of your available funds.
What should I do with the money?
The cash is yours to allocate however you see fit. Alleviate financial stressors, make a down payment, invest, or more. The possibilities are limitless. Here's a quick post on 5 ways to leverage your Keep bonus.
Does the forgivable loan have an interest rate?
During your tenure at the company that offered you the Keep Vesting Cash Plan, your loan will have a 0% interest rate. If you leave the company before your plan fully vests and you have withdrawn more cash than has already vested, you are legally required to pay back the total remaining balance on your vesting schedule. There is a 60-day repayment period at 0% interest before the loan converts to a 1 or 3 year interest-bearing loan, divided into monthly payments.
How do taxes work?
You will not be taxed on the loan you receive from Keep. However, when your employer prepays this loan (on each of your vesting dates), you will be taxed for the amount that has vested.
