Note: Upcoming releases to Advanced HR will include functionality to automatically create a scheduled E/D when employees enroll in these plans. Setup Information: Prior to creating a 401(k), HSA, FSA, or FSA Dependent care plans, the Plan years must be set up in the Default Table Setup. The Plan Years are used to define the Date that the savings plans can begin as well as that year’s maximum contribution value. Since contribution limits may change from year to year, it is recommended that these are set up in advance when the plan year limits are learned. You may need to create the Single Plan or Family Plans as well as a Catchup Plan Year. To create the Plan Year information: Go to Setup – Default Tables Setup – Benefits – HSA Plan. Click Add. In the Category drop-down list, select the type of plan to create. Example - 401K. In the year, select the start date of this plan year. In the Tier drop-down list: Select Single for the Single HSA or FSA plan or the standard 401(k) plan contribution. Select Family for the Family HSA or FSA plans. Select Catchup for the Catchup Plan contribution. In the Value field, enter the maximum contribution for that plan year for that type of plan. Select Active, to make this the active Contribution cap. Click Save when completed. Now that the plan year is present, we can create the benefit for open enrollment. In our example, we will use 401K, however the HSA and FSA plans are created in the same manner. To create a 401(k) plan: Go to Administration – Benefits. Click on Add. Select 401(k) from the plan Type drop-down menu. Enter the information on the Info, Enrollment, and Admin tabs. Note: For additional information on these tabs, please review the Creating Medical, Dental, and Vision Benefit Plans section of this guide. On the Allocation tab, select the following information Field Name Definition
Note: Upcoming releases to Advanced HR will include functionality to automatically create a scheduled E/D when employees enroll in these plans. Setup Information: Prior to creating a 401(k), HSA, FSA, or FSA Dependent care plans, the Plan years must be set up in the Default Table Setup. The Plan Years are used to define the Date that the savings plans can begin as well as that year’s maximum contribution value. Since contribution limits may change from year to year, it is recommended that these are set up in advance when the plan year limits are learned. You may need to create the Single Plan or Family Plans as well as a Catchup Plan Year. To create the Plan Year information: Go to Setup – Default Tables Setup – Benefits – HSA Plan. Click Add. In the Category drop-down list, select the type of plan to create. Example - 401K. In the year, select the start date of this plan year. In the Tier drop-down list: Select Single for the Single HSA or FSA plan or the standard 401(k) plan contribution. Select Family for the Family HSA or FSA plans. Select Catchup for the Catchup Plan contribution. In the Value field, enter the maximum contribution for that plan year for that type of plan. Select Active, to make this the active Contribution cap. Click Save when completed. Now that the plan year is present, we can create the benefit for open enrollment. In our example, we will use 401K, however the HSA and FSA plans are created in the same manner. To create a 401(k) plan: Go to Administration – Benefits. Click on Add. Select 401(k) from the plan Type drop-down menu. Enter the information on the Info, Enrollment, and Admin tabs. Note: For additional information on these tabs, please review the Creating Medical, Dental, and Vision Benefit Plans section of this guide. On the Allocation tab, select the following information Field Name Definition
Evolution%20Advanced%20HR%20User%20Guide%20-%20End%20User.docx