Step 3 Enter Payroll Contributions

For the third step, complete the Manage Employee Contributions screen.

For each employee who receives a company contribution under your plan, add a new line for your 401(k) deduction (or contribution) code.

  • If your plan uses a fixed contribution rate, the Rate column displays that rate.
  • If the company contributes at various rates based on a Contributions table, 0 displays under Rate and Costpoint uses your Contributions table to determine the appropriate percent for each employee.

If you want the contribution to start immediately, leave the Start Date field blank. If you are entering a future contribution, enter the start date which should normally be a pay period start date in your Pay Period table. If you enter a date that falls after the start of one pay period, the deduction begins at the start of the following period.