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

Modified on Mon, 31 Oct 2022 at 01:48 PM

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.

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