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Administrator Guide
Last Updated: 2023-06-23
Troubleshooting: Coordination of Events and Changed Retirement Savings Elections

Troubleshooting: Coordination of Events and Changed Retirement Savings Elections

Changes to retirement savings elections for future-dated open enrollment or life events are missing.
Example: A worker has a contribution amount of 5 percent for a pension plan, effective January 1. On December 5, the worker changes the contribution to 10 percent. On January 1, the contribution reverts to 5 percent.
Changes to elections using the default event type for retirement savings (configured in Edit Tenant Setup - HCM) don’t participate in coordination of benefit events.
Don’t include retirement savings plan types in your benefit plan year definition for open enrollment. Instead, create an ongoing benefit plan year with the retirement savings plan types.
If Workday processes earlier-dated retirement savings elections after later-dated termination events, audit these situations and update the termination event as needed.