Thri ft and Savings Account Setup Question
I have been in the process of trying to setup a new plan that would function as follows:
-Company contribution of 5% of Employee pay class salary amount per pay period (base salary, plus OT, etc....)
-All current employees will be enrolled but then new hires will have a 60 day waiting period.
-No employee contributions or premium associated with the plan.
So far this is what I setup so far and the issue I am running into:
-Setup DC plan with no coverage and the flat contribution option with a 5% of salary.
- the deduction code attached to the plan is setup to be5% of the new Pay Class for determining the correct salary to use in the calculation.
- Employee group setup to handle the 60 day waiting period for new hires
2 problems:
-When I manually enroll an employee in this plan in BN31.2 and it populates in BN32.1, my payroll team cannot see the deduction code populate on their end.
-On the benefit side of things this setup literally just takes 5% of the employees annual base salary and does not recognize that the deduction code attached to the plan which includes the pay class to determine salary.
Can anyone provide examples of how they setup plans that are similar or do we have to use the custom contribution option to get this to work?
I am still hoping there is a way to set this up without customization.
