During your initial registration, you defined your company’s pay groups, along with the related pay schedule and frequency. You also set funding methods for each pay group’s contributions.
This article will help you understand how to update pay groups and other payroll-related information after enrolling in the program.
From the “Contributions” dashboard, click the Payroll Setup button to navigate to the “Payroll Setup” page.
From the "Payroll Setup" page, you may:
- Edit your payroll settings
- Edit your pay group settings
- Edit your bank account settings
Edit Your Payroll Settings
Underneath the “Payroll System” heading on the “Payroll Setup” page, you will see your payroll provider listed. If you have changed payroll providers, you can update this information by selecting the Change Payroll System button.
Edit Your Pay Group Settings
To edit your pay group settings, begin by clicking the Edit button from the “Payroll” section on the “Payroll Setup” page. From here, you may change your pay schedule name and frequency or remove the pay group altogether.
- Change your pay schedule: Use the drop-down menu to select from seven different preset schedules, including "no regular schedule."
- Remove a pay schedule: If, for example, you no longer have multiple pay schedules, you can remove unneeded groups here. However, you must always have at least one pay schedule, even if it means you have selected the "no regular schedule" option.
- Add another pay group: With the Add Another Pay Group button, you can create a new pay group for employees on different pay schedules. Be sure to:
- Add the name of your next pay group, such as hourly, salary, weekly, etc.
- Select the pay schedule with the dropdown arrow.
- Select the appropriate funding method for this schedule.
After making changes to your pay group settings or creating a new pay schedule, be sure to select Save Pay Schedule.
Edit Your Bank Account Settings
If you want to change the funding method for an existing pay group, click on the How do you want to fund your pay group? drop-down menu, and select your preferred payment method:
- Bank Account via ACH
- Paper Check
- ACH Push (very uncommon)
For any pay group where the funding method is "Bank Account via ACH," you may select from your available bank account(s) listed or choose Add Account. When adding another bank account, be sure to select how you want to link your bank accounts and click Continue.
Looking for detailed payment instructions to remit contributions funds to your employees' IRA accounts? Click on the Payment Method Instructions button for additional information. This pop-up displays remittance instructions, including the regular and overnight mailing addresses for where you can send paper checks and the ACH push routing number and account number.
Remittance instructions can also be found in these articles:
- "Remittance Instructions - The Program Pulls Funds via ACH"
- "Remittance Instructions - ACH Push to the Program"
- "Remittance Instructions - Check"