If you would like to update an employee to a different plan, please follow these steps.
If you are moving an employee to an existing plan, skip to step X. If you are moving an employee to a new plan, select Create Plan.
Choose to fill out either a base contribution, matching contribution, or neither if employers will not be contributing to this GRSP.
When choosing a base contribution or matching contribution, you can toggle between the $ and % depending on your preference for offering either a flat dollar amount or a percentage of the employee’s income.
Once you are satisfied with your plan, select Create this plan.
Navigate to the Employees section and check the box next to the desired employee’s name you wish to make changes on.
Above the employee’s name, a bar with a drop-down menu will appear that allows you to select a different plan.
A window will pop up asking if you want to save. Click OK to finish.
This will automatically cause the employer contributions to be updated for that employee, based on the criteria of the new plan. For example, if the employee has selected to “maximize contributions,” their contributions will also automatically be updated. Ensure that no changes need to be made to these contribution amounts before exiting.
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