How to set up a 401k plan
Description
Cause
Resolution
  1. Click Maintain, Payroll, and Payroll Settings.
    • If the Payroll Setup wizard hasn't been run before, the option will read “Payroll Setup” instead of Payroll Settings
  2. Click Benefits, Summary of Benefits.
  3. Click the Add Another Benefit button.
  4. In the Add a Benefit window, click Retirement Plans and click OK.
  5. Click 401K and make a selection for the Who contributes to this plan? Field (Employee, Company or Both).
  6. Click Next.
  7. Define the employee and company contributions and click Finish.
  8. Go to Maintain Employees/Sales Reps.
  9. Select the employee deducting 401k.
    • If the employee will contribute a percentage: Click the Withholding Info tab, and enter the percent amount in the Percentage column
    • For a flat amount: Click the Employee Fields tab, uncheck Use Defaults and Calculated, and enter the amount in the Amount column
  10. Click Save.
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