J.P. Morgan Contributions Update
May 2022 - The J.P. Morgan Employer Portal has undergone specific enhancements to further improve the Contribution submission process. Please review this article to learn more about our newly released features. The new features are being deployed on a rolling basis beginning May 5th. Not all plans will have this feature available to them but will do so by the end of Quarter 3, 2022.
Upgraded Portal Design
Upon launching your J.P. Morgan sponsor portal, you will notice the new design of the Contributions tab. The main landing page, otherwise known as the Contributions Dashboard, has been redesigned with a more simplistic view.
As you navigate throughout the new portal and click on different buttons you will see each landing page has been redesigned:
- Contribution Submission Page
- Review Submission Page
- Confirmation Page
- Transaction Details Page
- Pay Group Information
The upper right corner of the Contribution Dashboard also now displays the year to date total contributions for the plan.
New Action Buttons
Along with the new design, the upgraded portal includes new action buttons that allow Employers to Skip or Remove contribution dates they no longer intend to submit. Employers may also Cancel recently submitted contributions. (*Please note - You may cancel a contribution in processing status up until 1PM.)
Please see this article for further detail about these enhancements.
Contributions
New Grid View
After selecting "Start Contribution" on the Contributions Dashboard, plan sponsors are redirected to the new Grid view for submitting contributions. The experience is uniform for all users regardless of the submission method.
Other notable enhancements include (but are not limited to):
- Improved formatting and navigation
- Summation of contribution totals
- Click on any column header to sort data in either ascending or descending order
For more information about the different submission options, please see Manual Entry and File Upload.
Pending Contributions Pop-up
We have added a popup to the upcoming contribution selection that will look back for any contributions started (but not confirmed) this will allow employers to resume the latest started contribution or create a new one.
Employers who do not have any contributions in a submission started state within the past 35 days are not going to see this popup.
Money Source Summary
On the contributions page, there is an expanded money source summary that includes all money sources that will display at the bottom of the contributions grid. This will also show on the Review Submission and Contributions details page.
Review Submission and Contributions
The Review Submission page summarizes the submission of your contribution and is meant for reviewing the accuracy of a submission. On this page you will find the following:
- Edit or Cancel your submission through the options on the upper right-hand of your screen meant to correct any errors showing under the Contributions Adjustments section.
- Use the search bar under the contributions details section to search for an employee.
- Toggle the On/Off button to show employees with or without contributions.
- Navigate through the participant's list under the contributions details page by using the pagination arrows.
- View a money source summary at the bottom of your Review contributions page.
- Once you confirm your submission is ready hit the 'Complete Submission' button on the bottom right of the screen.
File Upload - Header Mapping
Employers who choose the File Upload process when submitting contributions can now benefit from the new real-time header verification tool. This feature provides further assistance by allowing plan sponsors to select the headers from their file and match them to the corresponding (required) headers the J.P. Morgan portal is looking for.
Transactions History Filtering
At the very bottom of the Contributions Dashboard, plan sponsors are able to view the status of previous submissions. The History can now be filtered by time frame, submission type, and pay group. These three filter types can be selected via the drop down buttons where sponsors can choose how they would like to narrow down their search.
Please see this article for further information about our updated transaction History.
Adding Participants During an Off-cycle Contribution
We are excited to share that employers now have the ability to include new participants via off-cycle submission when uploading a contribution file. The updated contribution grid will recognize new participants in the submission. From there, you will be able to add the saver(employee) and their required demographic data.
Email Notifications
Aside from our usual email remainders regarding deferral changes, upcoming payrolls, and missing payrolls, we have added two additional email alerts to further inform you about your contribution submission:
- Successful Contribution - Confirmation that the contribution was successfully processed
- Action Needed - Detected errors in the submission where further action is needed (Payroll Integrated plans only)
To view our updated email remainders, please click here.
Validations
Non-integrated Plans:
Most of the errors our system detects in a submission are now presented immediately during the submission process. The new in-grid experience allows for an easy and intuitive way for the plan sponsor to correct and make adjustments on the spot. To learn more about the contribution validations, please read this article.
Integrated Plans:
For plans that have an active payroll integration our team will automatically adjust detected errors found in the submission to avoid delays in contribution processing. The sponsor will receive an email notifying them that errors were found and providing linked instructions on what actions may be taken to remedy the error.
- For example, if a saver(employee) has reached their IRS limit, they will be removed from the file to allow for the remainder of the saver(employee) contributions to process.
Please see read this article to learn more about managing validation errors for an integrated plan.
Persona Switching
Prior to our portal enhancements, employers who had access to more than one plan would need to log out every time they were looking to switch from one plan to another. This action is no longer needed as we have added a feature in the upper right corner of the portal where you may switch from one plan and access another.
*Please note this feature is only available if you have access to more than one plan.
If you have any questions, please reach out to us at everyday401k.success@vestwell.com