Make Employees Eligible for Retirement Plans

Typically, when a person's retirement account has a value greater than $0, their calculation card automatically identifies them as eligible.

For employees who aren't contributing to a plan, sometimes you must manually identify them as eligible. This ensures proper reporting on Form W-2. In these cases, use Eligible for Retirement Plan on their Reporting Information Calculation Card.

1. From My Client Groups, click Payroll.

2. Click Calculation Cards.

3. Search for and select the employee.

4. Open their Reporting Information calculation card for editing.

5. In Calculation Card Overview, select Federal.

6. In Calculation Components, click Reporting Information.

7. In Calculation Component Details, expand Reporting Information.

8. Set Eligible for Retirement Plan to Yes.

Tip:

There can be cases where:

1. There are multiple eligible employees not contributing

2. The employer is contributing

This can make it difficult and time consuming to update the Reporting Information card for every employee.

Instead, if you're not already using the W2 Pension Plan balance, feed your employer match element to the balance. This results in the automatic selection of the W-2 Box 13 Retirement Plan box, and no Reporting Information card configuration is required.