To enable your benefits provider to manage payroll deductions on your behalf, you must first make sure that all benefits are configured appropriately in Paychex Flex. This will help ensure that employer contributions and employee deferrals are made accurately, and in a timely manner.

Please follow the below guidelines below to update any 401(k), 401(k) Loans, 403(b) and S125 deduction 'Component Types' and 'Descriptions' in Paychex.

Please also confirm that for retirement deductions, there is only one instance of each Component Type in your Paychex account.

Paychex has a 20 character limit for Component Type Description

Traditional 401(k) - Deduction Codes

		Component TypeDescription
Employee deduction	401k EE Pretax	401k EE Pretax
Employee deduction catch-up	401k EE Catch Up	401k EE Catch Up
Company contribution	401k ER	401k ER
Company contribution catch-up	401k ER Catch Up	401k ER Catch Up

Roth 401(k) - Deduction Codes

		Component TypeDescription
Employee deduction	Roth 401k EE	Roth 401k EE
Employee deduction catch-up	Roth 401k EE CatchUp	Roth 401k EE CatchUp

Simple 401(k) - Deduction Codes

		Component TypeDescription
Employee deduction	401k SIMPLE EE	401k SIMPLE EE
Employee deduction catch-up	401k SMPL EE CatchUp	401k SMPL EE CatchUp

403(b) - Deduction Codes

	Component Type	Description
Employee deduction	403b EE Pretax	403b EE Pretax
Employee deduction catch-up	403b EE Catch Up	403b EE Catch Up
Company contribution	403b ER	403b ER

Roth 403(b) - Deduction Codes

	Component Type	Description
Employee deduction	Roth 403b EE	Roth 403b EE
Employee deduction catch-up	Roth 403b EE CatchUp	Roth 403b EE CatchUp

401(k) Loan - Deduction Codes

		Component TypeDescription
Employee deduction	401k Loan Payment	401k Loan Payment

S125 - Deduction Codes

		Component TypeDescription
S125 Medical deduction	POP EE Pretax	S125 Medical
S125 Dental deduction	POP EE Pretax	S125 Dental
S125 Vision deduction	POP EE Pretax	S125 Vision

FAQ

What do I do if there is more than one instance of the benefit type?

In case there is more than one instance of the Component Type, please reach out to your Paychex representative to remove the duplicate Component Types and keep the most up-to-date one that is applicable with your current retirement recordkeeper.