How do I set up the pay code in my payroll system?

Before you run your first payroll, you must create pay codes (also called deduction codes) in your payroll system for the SecureSave contributions--one for employee deductions and one for the employer match/bonus. 

  • For the employee deductions, name the pay code something like "SecureSave Deduction". This deduction is post-tax and should be reported on the W2 in boxes 1, 3 and 5.
  • For the employer match, name the pay code something like "SecureSave Match". This contribution is taxable to the employee as normal pay and reported on the W2 in boxes 1, 3 and 5.

If you are offering your employees a one-time signup bonus, we recommend using the "SecureSave Match" pay code when processing that. 

Please work with your payroll vendor or payroll specialist to create these pay codes.