BN - WED - Savings Minimum Report

GENERAL DESCRIPTION:

The Savings Minimum Report is an error report created to identify Savings Plan enrollment with a per paycheck contribution below the minimum amount.

PROCESS CONSIDERATIONS:
  • Employees can elect to enroll into the UW Tax-Sheltered Annuity (TSA) 403(b) plan before-tax or after-tax (Roth) at anytime by submitting a Salary Reduction Agreement.
  • Employees are required to contribute a minimum amount based on their Benefit Primary Job pay frequency.  The minimum per paycheck amount is $8 for a bi-weekly employee or $20 for monthly paid employees.  If an employee submits a Salary Reduction Agreement and the amount is below the minimum, Benefit Administrators will need to advise the employee about the minimum contribution amount and determine if they want to increase the election or stop contributions.
  • Bi-weekly employees who elected the minimum will be identified on the WED report if they transfer to a monthly paid position.
  • Employees are able to make contribution changes at anytime through Self-Service once they are enrolled into the TSA pre-tax or Roth post-tax plan.  There are Self-Service page edits that prevent employees from electing a contribution amount below the minimum.    (Note:  Any changes to contributions for Wisconsin Deferred Compensation (WDC) or WDC Roth plans must be made directly with Empower Retirement and cannot be made through the UW.)



PROCEDURE STEPS:

1.  Log into HRS.  The Workflow Exception Dashboard queries will appear based on your current security and whether there is an error to fix.

2.  Click on the UW_BN_SAV_MINIMUM query hyperlink in the Workflow Exception Dashboard (WED).

UW_BN_SAV_MINIMUM Dashboard

3.  A current list of employees who are enrolled into TSA or Roth plans with a contribution amount below the pay frequency minimum.  This list will be refreshed each evening.  (Note:  Empl_ID's that appear as hyperlinks in the list have more than one error.) 

4.  Click the 'Check to Claim' checkbox next to the person you wish to work with and your name will appear in the Claimed By section with the date and time noted.

UW_BN_SAV_MINIMUM Errors

5.  Click the SAVINGS_PLANS1 hyperlink for the employee you have claimed.

UW_BN_SAV_MINIMUM Errors Link

6.  The employee's Savings Plans enrollment pages will be displayed.  You may need to click on the arrow button to navigate to between between Saving Plan Type enrollments to identify which Savings Plan enrollment is below the pay frequency minimum.

UW_BN_SAV_MNIMUM Enrollment

7.  You will need to correct the election contribution by asking the employee to update through Self-Service or BN - Adding Events to the BAS Activity Table and  BN - Enrolling, Changing, or Canceling Coverage Using On Demand Event Maintenance using an SAV event.  Note:  You can click on the "New Window" hyperlink in the top right corner of your screen to open a second window to correct this data.


ADDITIONAL RESOURCES:

Related KBs:

Related Links:



Keywords:UW_BN_SAV_MINIMUM, Savings Plan, 42, 49, 4L, 4M, 4N, 4O, 4P, 4S, 4U, 4W, 4X, 4Y, 4Z, $8 bi-weekly, $20 monthly, Before Tax, After Tax, Roth, 403(b), WDC, TSA   Doc ID:16469
Owner:Joanna B.Group:Human Resource System (HRS)
Created:2011-01-08 19:00 CDTUpdated:2018-03-12 14:12 CDT
Sites:Human Resource System (HRS)
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