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 ongoing 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 ongoing 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 or a milestone bonus, we recommend using the "SecureSave Match" pay code or creating a third pay code such as “SecureSave Bonus” when processing that. 

If uncertain how to create a pay code, we advise working with your payroll vendor or specialist to create these pay codes.