Create 401(k) Catchup Plan

Here’s how you create the plan.

1. Click Navigator > Benefits Administration > Plan Configuration.
2. Create a plan.
3. In the Basic Details step, follow the same steps as stated in Create 401(k) Plan to complete the fields, except that, in the Options section, you need to add only the After-Tax option.
4. In the Eligibility step, at the plan level, add the eligibility profile to check for employees who are 55 years or older.
5. In the Enrollment step, at the plan level, click the Life Event tab, and add the Unrestricted life event.
6. In the Enrollment step, at the After-Tax option level, click the General tab, and complete these fields.

   Option	Description
   Field	Value
   Enrollment Rule	Current - can keep or choose; new - can choose. Employees who’ve enrolled in this plan can keep the existing contribution or enter a new rate. New employees can enter a new contribution rate.

7. Save your changes.