Gusto 401k: Difference between revisions
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(Created page with "== Adjusting contributions == * '''Gusto Dashboard''' > '''People''' menu item > '''Team members''' > ''click a "team member" to select'' * '''Benefits''' menu item > '''401k (Vanguard)''' > '''edit''' ** Enter weekly contribution under '''Employee Deduction Per Pay Period''' ** To suspend contributions, click '''No''' under '''Currently Active?''' at the bottom of the modal dialog.") |
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** Enter weekly contribution under '''Employee Deduction Per Pay Period''' | ** Enter weekly contribution under '''Employee Deduction Per Pay Period''' | ||
** To suspend contributions, click '''No''' under '''Currently Active?''' at the bottom of the modal dialog. | ** To suspend contributions, click '''No''' under '''Currently Active?''' at the bottom of the modal dialog. | ||
== Year-end adjustments == | |||
To make a year-end adjustment, create an "off-cycle payroll". | |||
* '''Gusto Dashboard''' > '''Payroll''' > '''Run Payroll''' | |||
* '''Other payroll options''' > '''Off-Cycle Payroll''' > '''Run Off-Cycle Payroll''' | |||
** '''Work period''': Enter a start and end date. This is arbitrary. The actual dates don't matter. | |||
** '''Payment date''': Date of the contribution. | |||
** '''Deductions and Contributions''' | |||
*** '''Block all deductions and contributions, except 401(k)''': ''selected'' | |||
** Click '''Save and Continue''' | |||
** On a subsequent screen there will be a link to "run report" for this off-cycle payroll, which will allow you to confirm the details of the payroll. | |||
Latest revision as of 22:05, 10 December 2021
Adjusting contributions[edit]
- Gusto Dashboard > People menu item > Team members > click a "team member" to select
- Benefits menu item > 401k (Vanguard) > edit
- Enter weekly contribution under Employee Deduction Per Pay Period
- To suspend contributions, click No under Currently Active? at the bottom of the modal dialog.
Year-end adjustments[edit]
To make a year-end adjustment, create an "off-cycle payroll".
- Gusto Dashboard > Payroll > Run Payroll
- Other payroll options > Off-Cycle Payroll > Run Off-Cycle Payroll
- Work period: Enter a start and end date. This is arbitrary. The actual dates don't matter.
- Payment date: Date of the contribution.
- Deductions and Contributions
- Block all deductions and contributions, except 401(k): selected
- Click Save and Continue
- On a subsequent screen there will be a link to "run report" for this off-cycle payroll, which will allow you to confirm the details of the payroll.