Setting Up Deductions
In this step, you will review the contribution rates your employees have selected after they have had an opportunity to customize their account. You will then enter (or update) the contribution rate in your payroll software.
If you have not created your payroll deduction line item in your bookkeeping or payroll software/file yet, now is the time to complete that step.
Note: : Employee contribution rates are defaulted to the standard 5% savings rate deduction if your employee does not customize their account.
When should this step be completed?
After the 30-day opt-out period has ended, you will receive a notification from Illinois Secure Choice to begin submitting employee contributions. When you receive this notification, and before you run your next payroll, enter the employer portal and review the contribution rate each employee selected. Then, update your payroll application.
Information you will need to complete this step:
- The contribution rate percentages each employee selected. Access the Employer Portal homepage (or Contributions Dashboard) to review this information.
What comes next?
After confirming the employee contribution rates are entered correctly in your payroll application, begin the process of submitting contributions Illinois Secure Choice.