Configure Balances for Qualified Student Loan Payments

When configuring matching contributions for qualified student loan payments, use the Balances task to configure these balances.

Balance name	What you do
Deferred Compensation Qualified Payments	If you're using an Information element to track student loan payments processed outside Oracle Cloud HCM or have defined a deduction element, you need to add those element feeds to the Deferred Compensation Qualified Payments balance. Start the Balance Definitions task. Select your US legislative data group (LDG), and search for Deferred Compensation Qualified Payments. In Balance Feeds by Element, add your qualified student loan payment elements. Select the input value that has the payment amount. Select Add. Select Submit.
Deferred Compensation 401k Employer Match	When you defined the employer-match elements, the template automatically created feeds to the Deferred Compensation 401k Employer Match balance. You need to delete these feeds. Start the Balance Definitions task. Select your US LDG, and search for Deferred Compensation 401k Employer Match. In Balance Feeds by Element, select the Employer Match Results element. From Actions, select Delete Balance Feed by Element. Select Continue to dismiss the warning. Select Submit.
Deferred Compensation 401k Qualified Payments Employer Match	If the employer-match element you defined applies to a 401 (k) plan, add its Employer Match Results indirect element as a balance feed to this balance. Start the Balance Definitions task. Select your US LDG, and search for Deferred Compensation 401k Qualified Payments Employer Match. In Balance Feeds by Element, add the Employer Match Results indirect element. Select the Employer Match Calculated input value. Select Add. Select Submit.
Deferred Compensation 403b Qualified Payments Employer Match	If the employer-match element you defined applies to a 403 (b) plan, add its Employer Match Results indirect element as a balance feed to this balance. Start the Balance Definitions task. Select your US LDG, and search for Deferred Compensation 403b Qualified Payments Employer Match. In Balance Feeds by Element, add the Employer Match Results indirect element. Select the Employer Match Calculated input value. Select Add. Select Submit.
Deferred Compensation 457 Qualified Payments Employer Match	If the employer-match element you defined applies to a 457 (b) plan, add its Employer Match Results indirect element as a balance feed to this balance. Start the Balance Definitions task. Select your US LDG, and search for Deferred Compensation 457 Qualified Payments Employer Match. In Balance Feeds by Element, add the Employer Match Results indirect element. Select the Employer Match Calculated input value. Select Add. Select Submit.