Overview
401K Plans are used to tie a deduction to a 401K Plan for reporting purposes. A Standard (ID 1) 401K plan is created for you. If you use the normal system calculated 401K plan (Employee Master File, 401K Plan section), and you want to set up a "catch up" deduction (Deferred amount) or a Loan Repayment for the normal system calculated plan, select Standard as the 401K Plan. If you have other 401K Plans, they can be set up in this add/edit list using any ID other than ID 1.
The 401K Plans add/edit list can be accessed by double-clicking in the Plan field (under 401K Options) on the Other Deductions Codes screen.
Key Functionality
ID
WinTeam automatically assigns an ID to each new record, and uses the ID field to identify each record. You may change system-assigned ID Numbers.
Description
Use this field to enter a unique name for the record. After a new record is created, WinTeam displays this Description with the corresponding ID number in the Add/Edit list.
Active
Select this check box to make the selected record active. Clear the check box to make the record inactive.
Default
Select this check box to make the selected record the default value for this Add/Edit list. WinTeam uses this record to automatically fill in the corresponding field on a new record in the related screen.
Security
This add/edit list is part of the SYS Add Edit List ALL Security Group.
Security Features include the ability to:
- Deny Set Active\Inactive
- Deny Set Default
Tip: For more information see Security Groups Overview and Security Groups By Module.