401(k) Process to Change June 1 for USPS and SPRS Agencies

The 401(k) process will improve for Uniform Statewide Payroll/Personnel System (USPS) and Standardized Payroll/Personnel Reporting System (SPRS) agencies when two Application Change Requests (USPS and SPRS) migrate on June 1.

The Employees Retirement System (ERS) requested changes to how 401(k) deduction and 401(k) loan repayment deduction payroll documents are transmitted to the Texa$aver vendor/administrator. With the changes from the USPS and SPRS ACRs, the payments will go to the 401(k) vendor/administrator’s financial institution on the payment date rather than remaining in Fund 0942 until the end of the month as current processing requires.

For what agencies need to know about the changes, please see ACR 30014 – USPS and ACR 30029 – SPRS System Changes.