Plan configuration

Plan configuration endpoints are company-scoped; see Authorization for the headers.

Four sections must be set during plan configuration: MigrationConfig, ManagementOption, InvestmentConfig, and CoreConfig. See Company and plan configuration for the shape of each, and the Company service for the endpoints.

Four main sections must be set during plan configuration: MigrationConfig, ManagementOption, InvestmentConfig, and CoreConfig. The plan configuration process has a lifecycle, because these sections are interdependent. Because bulk updates with incompatible fields can cause errors, we recommend using the individual update endpoints for each section to guide the configuration process; however, we also support a bulk update endpoint if partners want to encode this logic on their end.

Each section of the plan configuration has a status. A locked status on a section indicates that this data will be populated by Basic Capital; partners should not let users edit locked sections in their UI, because updates attempting to edit a locked section will error.

Sections are locked in the following cases:

1. In case of plan migration - all other sections will be locked
2. If fully managed option - investment config section will be locked

See ConfigurationSectionStatus in the core data types.

The plan configuration can have the following statuses, which will depend on the statuses of each individual section:

• DRAFT: indicates user has additional sections to configure
• IN_REVIEW: user action is complete, all tasks are blocked by Basic Capital (only applicable if there are locked sections, otherwise will go directly to READY_FOR_SUBMISSION)
• READY_FOR_SUBMISSION: plan config is ready for submission; user must manually submit after review is complete
• SUBMITTED: plan config has been submitted and can no longer be edited

Once a plan is submitted it cannot be undone and Basic Capital's operations team will need to be reached out to in order to rectify.

Many employers will be interested in having a Safe harbor compliant plan to lessen their compliance burden. This is a high level summary of how to achieve Safe Harbor plan status.

QACA

• 100% match for 1%
• 50% for next 5%
• Total employer match: 3.5%
• Require employee contribution to realize entire match: 6%
• This is the lowest match an employer can provide and still be safe harbor.

Basic safe harbor

• 100% match for 3%
• 50% for next 2%
• Total employer match: 4%
• Required employee contribution to realize entire match: 5%

Enhanced safe harbor

This one can take multiple forms. It requires that at each deferral percentage it is at least as generous as basic safe harbor. Most often it is a single tier approach. Min required employee contribution to realize entire match:

• Single tier: min 4% match, max 6% match
• Multi tier
  • First tier must be at least 100% at 3% to be as generous as Basic safe harbor.
  • Total employer match and total required employee contribution to realize match cannot exceed 6%

Required for all plans created post 2022 (notable exception is plan migrating post 2022 that was created pre 2022 this is not required)

• Auto enrollment rate
  • min: 3%
  • max: 10%
• Annual auto increase
  • min: 1%
    • Exception: if auto enrollment is set to 10%, then no annual auto increase is required
    • Exception: If Qaca match configuration's auto enrollment is set to 6%, then no annual auto increase is required