Should participants who do not want to participate in the plan complete the Payroll Deduction Authorization Form?
Yes, all participants should complete and sign this form. If a participant doesn’t want to contribute to the plan, he/she should complete the form with zeros in the spaces for deferred cash contributions and voluntary contributions (and loan repayments if you are an Investment Choice Plan). Make sure the form is signed and keep it in the participant’s personnel file.
Related Questions
- The Student Authorization to Work form indicates that I must complete several forms. What do I need to bring to Payroll in order to complete the documents?
- Should participants who do not want to participate in the plan complete the Payroll Deduction Authorization Form?
- On the Outreach for Participants form, who needs to complete the last field describing a contingency plan?
