7.04.01: View DC Feedback File
Participants - that is, employees with the Defined Contributions (DC) plan or a DC component in their benefit plan (Pension Plus, Pension Plus 2, Personal Healthcare Fund [PHF]) - and members with the Deferred Compensation Option can increase or decrease their DC contribution or deferral percentage by contacting Voya Financial.
Voya provides ORS with the deferral percentage changes, and ORS relays that data to reporting units using the View DC Feedback File screen. Voya sends:
- Changes to any contribution or deferral percentage initiated by the participant.
- The mandatory contributions for new employees after an account has been established with ORS and Voya.
- The deferral percentages for Defined Benefit members who enrolled in the Deferred Compensation Option. Note: For defined benefit members (MIP or Basic plan members with the premium subsidy health care) who enroll in the Deferred Compensation Option, the View DC Feedback screen serves as the only method of notification to the reporting unit that a member has enrolled.
If an employee has made a change to their contribution in the past four days, a green information message box will appear on the Work on Reports page alerting you that DC Feedback File information has been added.
Check the View DC Feedback File link on the Things To Do menu every pay cycle for the latest information, and make changes to the contribution amounts on DTL4 records based on the Effective Report End Date displayed on the screen.
To view contribution or deferral rate changes, log in to the Employer Reporting website and click View DC Feedback on the Things to Do menu. The View DC Feedback File screen has three sections:
- Search Criteria
- Unread Feedback
- Read Feedback
- The Search Criteria section helps you find contribution change records for any employee at your reporting unit by any of the following criteria:
- Social Security number (SSN).
- A specific date range.
- Record status (read or unread).
Enter your search criteria in the appropriate field, then click Search. The records will appear in the Unread Feedback or Read Feedback section, depending on their status. You can then see all changes made by the listed employee(s) while employed by your reporting unit. Changes made at other reporting units will not display.
- The Unread Feedback section contains either new deferral changes or deferral changes that you have not marked as read by clicking the Read Record box. The section lists new deferral percentages for both employee and employer DC and PHF contributions. Report these rates on your DTL4 records for the pay period report listed on the screen in the Effective Report End Date column.
- Check the Read Record box to move the data to the Read Feedback section. It remains there only until you exit the link. (The information can be recalled at any time by using the Search Criteria section as explained below.)
- The Read Feedback section shows:
- Any records marked as Read Record in the same viewing - once the screen is closed the records will no longer appear in this section.
- Any records found for an employee entered in the Search Criteria box.
You may also download a spreadsheet that displays the unread deferral information, but the spreadsheet version does not show the Effective Report End Date column. We suggest you print the entire View DC Feedback File screen rather than the spreadsheet so that you have the Effective Report End Date information.