Setting up IRA payroll deductions

This section enables employees to have their IRA Payroll Deductions to be automatically deposited into their IRA accounts. Employees should make arrangements directly with their bank or other financial institution to set up an IRA account.

To set up IRA payroll deductions

1. From the navigation menu, click Employee Self Service, then click Payroll and Compensation, then click IRA.
   
   The IRA page appears.
   
   
2. Click the Enroll button.
   
   The IRA Info dialog box appears.
   
   
3. In the Account Name field, enter the name of the bank/financial institution account holder.
   
   Important: The name that appears in this field must match the name on your bank/financial institution account. Additional names on the account are acceptable.
   
   
4. In the Routing Number field, enter the routing number of your bank/financial institution account.
   
   A Confirm dialog box appears containing the current IRA information, new IRA information, and the Employee Authorization dialog box.
   
   
5. In the Account Number field, enter the account number.
   
   
6. In the Confirm Account Number field, enter the account number again.
   
   Note: ESS will not allow you to cut and paste from the Account Number field. You must re-enter the entire account number.
   
   
7. In the Goal Amount field, enter the goal amount.
   
   
8. In the Amount to Be Deducted per pay check, enter the deducted amount.
   
   Important: If you do not meet your Goal Amount by the end of the year, the Goal Amount will reset to the same amount the following year if you do not take any action.
   
   
9. Click the Submit Changes button.
   
   A Confirm dialog box appears containing the new IRA payroll deduction information.
   
   
10. Read the new IRA payroll deduction information to ensure that all information was entered correctly.
    
    
11. In the Employee Authorization inner dialog box, enter the last four digits of your Social Security number.
    
    
12. In the Employee Authorization inner box, click the Certify/Confirm button.
    
    Important: An email will be sent to you stating that your IRA payroll deduction enrollment is pending and that it should be processed by the next business day but may take up to two paychecks to become effective.
    
    
13. For more information regarding IRA Payroll Deduction Program, employees should refer to the OPA website.
    
    

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Related topics
EForms
Canceling your IRA payroll deductions
Changing your IRA settings
Removing pending changes for IRA

1099

Last revised: Septemer 1, 2009