Retirement Plans

Employee Guide

Version
R2024.1.0
Retirement Plans

The enrollment screens for retirement plans show if your benefits administrator configured the enrollment with the Retirement Plans section and if you're eligible to elect plan options in the section.

In the Retirement Plan screens, you can do the following:

  • Enter annual, monthly, or per pay contribution values in amount or percentage based on how the plan options were configured for the enrollment. Dayforce calculates your costs and updates the amounts in the cards based on the entered contribution values. The minimum contribution amount or percentage set for the plan option is shown by default.
  • Select plan options.
  • Select beneficiary designations for the selected plan options.

If you select two plan options and both options have recording beneficiary designations enabled, you must designate beneficiaries for both options. The option name shows next to the Beneficiary Designation section heading to identify the option for which you're recording beneficiaries.

You can add primary and contingent beneficiary designations for the plan options. Click Change in the Beneficiary Designation section for the plan option. Select the checkbox next to beneficiaries and enter the allocation value in percentage. The allocation values for the selected beneficiaries must add up to 100%. Click Confirm to save the beneficiary designations only when the Remaining Allocation value shows 0%.

When you select a beneficiary as primary, the beneficiary doesn't appear in the contingent beneficiaries list. If you change the plan option, you must designate beneficiaries again.