DC 401k Match - hidden from paycheck

We're changing our match plan amount and only going to fund it to the employees' account at year end. My understanding we can update the Contribution BN15 to update the match and hide the match using Deduction PR05 "Print on Payment" from Y to N. This would allow Lawson to calculate a match only for eligible Employee Groups and specific Pay Class earnings.

Does anyone use Lawson for this type of DC Match set up?

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Comments

sriman-shivakoti

We never show employees company deductions so we do that. We also only submitted our contributions for on subset of our employees annually but only if they are still employed at year's end. That is fun to track.

rchudek1

We do not show employer deductions for retirement either. We use custom programing to determine eligibility along with monthly and annual reversals of employer deductions for those who do not meet eligibility to recieve a contribution. We have an interface that is run at the beginning of the new year for the previous years contributions, so these contributions are only sent annually.

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