Creating increment rules for Secure Act 2.0 percentage

You can increment a yearly percentage to a defined maximum for defined contribution rules. This increment is for Secure 2.0 auto-enrolled employees who do not have changes in their contribution records in the prior year.

You cannot change the new section added for Secure Act Percent Increment Rules on any existing contribution rule. Changes are accomplished by creating a new contribution rule.

  1. Select Benefits > Plans > Benefit Plans.
  2. Select a benefit plan.
  3. In the Contributions tab, click Create.
  4. Specify the match limit schedule contribution rules.
    See Creating match limit schedule contribution rules.
  5. Specify the match percent schedule contribution rules.
    See Creating match percent schedule contribution rules.
  6. In the Service Section, specify this information:
    From Date
    Specify a date to activate a start period for the contribution.
    Date Type
    Specify a type of date for the contribution.
  7. Click Save.

    After saving the information selected and specified, the details specified in the previous fields are locked in on the Secure Act Percent Increment Rules section.