General Retirement Option Settings

After defining the retirement plan details, in the General tab of a retirement option in Benefits Setup > Plans and Options, you define plan options. You can add as many options as necessary and use qualifiers to determine which employees are eligible for each option. If multiple options are defined for a single plan, you must configure eligibility qualifiers for each option.

General tab fields for configuring retirement options
Field	Description
Name	The display name of the option.
Description	The description of the option. Dayforce doesn't show the description to employees during enrollment.
Reference Code	The ID used in import files to properly import employee benefits. Cross-reference codes are used to import and export data to and from Dayforce and other applications.
Taxability	The taxability of the option. This value is used for reporting purposes only. Dayforce applies taxation rules to options based on the tax settings of the earning or deduction to which the option is mapped. The options are: None Pre-Tax After-Tax
Beneficiaries	Determines whether employees can designate a beneficiary when they enroll. Primary beneficiaries are entitled to the proceeds of the option if it's paid out, and contingent beneficiaries receive the proceeds if the primary beneficiary or beneficiaries predecease the individual enrolled in the option. When the option is configured to allow primary and contingent beneficiaries, benefits administrators or employees can designate as many beneficiaries as necessary, so long as the percentages of each beneficiary type total 100%. The options are:
Default beneficiary designation from current election during enrollment	Dayforce defaults to the current beneficiary for the election when employees are re-electing an option. Dayforce shows this field if you selected either Primary and Contingent or Primary Only in the Beneficiaries drop-down list.
Entry of beneficiary during enrollment required	Employees must designate a beneficiary during enrollment. Dayforce shows this field if you selected either Primary and Contingent or Primary Only in the Beneficiaries drop-down list.
Waived Option	Dayforce tracks when employees waive an offer of coverage. In addition, select the checkbox to prevent Dayforce from showing a waive option to employees with enrollment restrictions. For more information on configuring waive options, see Waive Options. For more information on enrollment restrictions, see Enrollment Restriction Definitions.
Suppress Costs	Dayforce doesn't show employee costs or coverage amounts to the employee in Benefits during enrollment, in Benefits > History, and in Benefits > Current Elections. For the Mobile and Web enrollment types, when you select this checkbox, Dayforce doesn't show: The employee costs in any of the enrollment screens. The employer costs in the Review and Next Steps screens. This checkbox doesn't show when you select the Subject to Flex Credit Benefit checkbox for retirement plans with a country selection of Canada.