Getting started

To create a Retirement Plan, navigate to Settings > Employee Services > Benefits > Benefits tab > Retirement Plans.

Select New Retirement Benefit.

This will take you to the setup page. If you have already created a Retirement Benefit and want to create a new one, the process is the same. You can also select an existing Retirement Plan and it will bring you in to the same pages.

Use the wizard to set up your Retirement Plan

Provide information for each of the fields.

For Retirement Type, there are several different options in the dropdowns: 401(k), 403(b), Catch Up Plan, Other. Each type has a similar setup; notably, the Catch Up Plan is a field option for the other three types. Note: If you are using Catch Up Plans, you will need to either create them prior to the others or will need to update the pertinent field after they have been created.

Below the Retirement Type and Catch Up Plan fields are a number of options that you can elect for how employees can enroll into this benefit. Select the ones that best match your business's needs.

Payroll information

Fill in the most applicable information for the code dropdowns. These will use the codes from your benefit package. Codes should be created prior to creating the benefit.

Employee Calendar Year Maximum should be filled in here. If you are not creating a new version of the 401K every year, then this field will need to be updated when the new year starts. For 2025, the Calendar Year Maximum is $23,500.00. Not every Retirement Plan benefit needs a new version, though it is recommended. If there are no true end dates to the benefit, then you can leave the End Date fields blank. Select the Deduction Frequency and Deductions Per Year.

Plan information

Add in the Trustee and Account Number, then check applicable boxes. Add in the Minimum Age and how long the waiting period might be, if applicable.

Information blurbs

Effective Start Date: The benefit effective dates are the actual dates an employee has coverage. These are used in the system for ACA and EDI purposes. These dates do not down-sync to the accounting package.

Payroll Effective Start Date: Payroll start and end dates are the dates inserted into the accounting package for benefit HR and deduction codes. This is typically the first day of the pay period, when the deduction takes effect.

Employer Match

If your company matches employee contributions to their retirement benefit, you can set up a series of tiers based on the two Match Types: by a percentage of gross wages or a fixed contribution. If there is a minimum contribution amount, set it on this page. In the above example, the Retirement Plan is set up to match 100% of contribution up to 4% of the employee's gross wages, then 50% of contribution up to 6%.

Documents

You can upload relevant documents to the retirement benefit here. Employees will be able to access and view this during enrollment. Select Save & Finish and it will return you to the versions page for the benefit you just created. As noted previously, if you have not created a Catch Up Plan and want to have those assigned to the Retirement Plan you created, go through the process of creating a new benefit and then return to the first Retirement Plan and update the Catch Up field.

Once you are done creating this, or any other benefit, you will also want to go update the Benefit Package settings to include the benefits you have made.