guide to the online contribution tool

Transcription

1 guide to the online contribution tool Take advantage of your Retirement Plan. Making your plan contributions online is easy with the online contributions tool on the Members Retirement Program s employer website. Set up your first contribution by answering a few easy questions and you are set. The next time you need to make a plan contribution, just enter the amount, make any necessary adjustments and in a few clicks you are done. Get Started axa.com/mrp Click on Employer Log-In. Log in and click on Online Contributions. Online Contributions First Visit to the Site Click on Manual Payrolls. Then click on Contribution Setup. Manual Payrolls Contribution Setup

2 Step 1 Select Criteria Status of Participants Uncheck Select All and then check Active. If you have to make a contribution for a participant who is already terminated, you can select Terminated as well. Please know that this will display all participants who are terminated in your plan. Employee Compensation Group Leave as is. Do not uncheck any boxes. Frequency Leave as is. Do not uncheck any boxes. Add/Remove Columns Participant Leave as is. Do not uncheck any boxes. Contribution Types Click the boxes for the type of contribution you are making with this submission. An explanation of the contribution types is available at the bottom of the page. Select Criteria Uncheck Select All (then select) Leave As Selected Leave As Selected Check Appropriate Box(es) Contributions Defined

3 Step 2 Add New Payroll Insert the payroll date from which these contributions were taken. If this is not a 401(k) contribution, just choose the current date. If you enter a future payroll date, we will deduct the contribution amount from your bank (ACH) and process the contribution on that payroll date or the next business day if it is not a business day. Insert the contribution amounts for each participant and contribution type. When those two steps have been completed, you will see the Continue button appear so you can move to the next step, Selecting Your Funding Method. Add New Payroll Select Payroll Date Add Contribution Amounts Add Participants Continue NOTE: If you need to add a participant who is not listed on the screen, click Add Participant.

4 Step 3 Select a Funding Method If you have previously supplied your ACH banking information, it will be the only choice available. If you have not provided your ACH banking information, click on the link below to download the ACH Form. You must complete and return this form in order to use the online contribution feature. Select Funding Method ACH Link Funding by Forfeiture Account Continue In addition, if your plan has an amount in the Forfeiture Account, that amount can be used to fund the contribution if the contribution type is forfeiture eligible, i.e., Employer and/or Matching contributions. Forfeiture amounts cannot be used to fund salary deferral or safe harbor contributions. If you want to use Forfeiture amounts click the forfeiture box and then enter the amount you want to use from the forfeiture account on the next screen.

5 Step 4 Fund Your Payroll Type in the amount in Funding Amount for the ACH amount and Forfeiture Amount (if applicable) and click Continue. The You Have Funded amount must equal the You Need to Fund amount in order for the Continue button to become active. Fund Your Payroll NOTE! Add Funding Continue Step 5 Verify and Submit Contribution Verify & Submit Verify

6 If an employer uses forfeiture, the Verify and Submit screen will look like this. Verify Verify Submit Contribution

7 Using the Loan Repayment Feature If you would like to make online loan repayments, it can be done with or without making contributions. Click the box next to Loan Repayments under Contribution Types in Step 1 Select Criteria and click Continue. Loan Repayments The next screen will have a column for Loan Payment and any participant with an active loan will have $0.00 in the column. Click on that number and a window will pop up with the outstanding loans and expected payment amount. Click Blue $0.00 Add Loan Payments Outstanding Loans Choose the Loan to Pay Click Add Loan Repayments and you will prompted to add a loan payment date and amount. After adding those items, click Add to Payroll and that amount will appear in the Loan Repayment column. Payment Date and Amount You will then follow the steps above to process the submission.

8 Using the Copy Feature After you have submitted your first online contribution on the new website, you will be able to utilize the copy feature to reduce the time necessary to process a contribution. Here s how it works. When you click on Manual Payrolls you will get a list of the online contributions that you have processed. Choose the one you would like to copy, Click Copy from the Actions pull down menu and that contribution breakdown will appear on the screen. Insert the new payroll date and make any changes to the contribution amounts and follow the steps. With the copy feature you did not need to set up a new contribution with each visit. Copy The Members Retirement Program (Contract Form #6059) is funded by a group variable annuity contract issued and distributed by AXA Equitable Life Insurance Company (New York, NY 10104, ). AXA is the brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (NY, NY), AXA Advisors, LLC, and AXA Distributors, LLC. AXA S.A is a French holding company for a group of international insurance and financial services companies, including AXA Equitable Financial Services, LLC. The obligations of AXA Equitable Life Insurance Company are backed solely by their claims-paying ability. All guarantees are based on the claims-paying ability of AXA Equitable AXA Equitable Life Insurance Company. All rights reserved Avenue of the Americas, New York, NY 10104, (212) G GE MRP (7/18) (Exp.7/20) Cat. # (7/18)