This process enroll participants through web and IVR during enrollment period. During offering period, keep track for any contribution changes through web site, exchange files with client to update the contribution change, and post actual contribution.
At beginning of enroll period, we need to setup Plan information, Load Eligibility File (In), create temporary acct and password. After enroll period finished, we need create financial Acct in system and post contribution percentage or dollar amount, Create enrollment file (Out), Send Enrollment letter. During Offering period, participants can cancel their enrollment, we have Scheduled process for weekly cancellation file and contribution file exchanged with clients through FTP using PGP encryption
Business Rules
Enrollment process includes enrollment period and offering period.
During enrollment period, participants login used temporary user name and password. They can enroll and change contribution as many times as they want. When enrollment period end, all contribution will be posted to new financial account.
The temporary user name could be last 9 digits of SIN or Employee ID. The password could be 8 digits birthday formatted as YYYYMMDD. We provide option to enroll through web and IVR.
Contribution Type: Salary or Bonus
Contribution Value Type: Percentage or Dollar Amount
Incremental:
During the offering period, participants login use financial account and password. They can only cancel enrollment, change contribution is generally not allowed to avoid confusion. System will generate weekly cancellation file to update client’s payroll system. System usually loads a contribution file from client to post real contribution.
When Enrollment process occurred recursively, we support two type of re-enroll:
1. Fully re-enroll.
All participants have to re-enroll to the plan according to new plan requirement. Previous enrollment will be cancelled automatically. However, the financial accounts remain untouched, participants can still use old account and password to view their contribution. System will not use any old Eligibility data, and expecting a full eligibility data file
2. New member only.
The enrolled participants enter to next offering period automatically. Only new participants will go through enrollment period. System will use old Eligibility data and Eligibility refresh file to start the enrollment
Other option:
1. Participants can cancel or pre-set contribution for next offering period during the current offering period if recursive enroll is new member only
2. Participants only allow 2-time cancel on the offering period during each calendar year. He is eligible to enroll again in next calendar year.
3. If Client support both salary and bonus percentage, if 1 percentage changed to 0, still allow them change it back. If both percentages changed to 0, not allowed changing them back, this is real cancel for next offering period. Cancel during offering period means change both percentages to 0, and eligible for next enrollment period.
4. You can cancel your plan anytime during enrollment period and offering period. You may not get refund when you cancel in the end of offering period. The refund date will be setup each year.
5. You may change the percentage of contribution to the plan as often as you like with no penalty. The percentage change will be effective after next scheduled file exchange date
User Manual
Manage Enrollment
1. Delete Eligibility Data function will delete all records in table. This is used if everyone need to re-enroll
2. Load Eligibility File function will Insert/Update records in table, keep the status unchanged.
3. “Request enrollment report” – apply for all corps
4. “Reset Enrollment Rates function” will reset contribution percentage/amountfrom to 0 on Acctprecent table for all employees. Used at the beginning of offering period if everyone need to re-enroll. Currently for Sodexo only since Sodexo force all participants to reenroll every year. – apply only for corps that force all participants to reenroll
5. “Populate Enrollment Rates” is a process that occurs before the offering period. In this process, It will Insert/update AcctPercent table from Eligibility table for the participants who have account in the system already. For those who don’t have accounts in the system, we need to create cif/account in the beginning of the process as well. – apply for all corps
Enrollment Process
Enrolling in the Employee share purchase plan is quick and easy. The plan’s website will allow you to enroll in the plan online. Prior to the process please make sure you have read the plan documents
To enroll in the plan follow the simple steps:
Step 1: Go to the plan website and select “New Member Enrollment”
This will bring you to the next page, which is …
Step 2: Enrollment Login
This page allows you to identify yourself to the site for enrollment purposes. To login please complete this page as follows:
1. Company Name:Select “Demo Corp” from the drop down list
2. Temporary Account Number
This has been preset to your Last Six Digits of SSN
3. Temporary Password
This has been preset to your birthdate in the format MMDDYY. For example if you were born on March 25, 1967 then use 19670325
Once you have complete the form select “Login”
Step 3: Enrollment FormThis page allows you to select how to manage your enrollment. Your choices are as follows:
New Enrollee:
If you are not yet enrolled in the plan your only option would be to select “New Enrollment.” To continue with the enrollment process select “New Enrollment.”
Step 4: New Enrollment This page allows you to indicate the percentage of your salary to be contributed to the plan. Please note that you can select a different percentage for each of your salary and your bonus.a) Salary Percentage
a. Rate deducted from your salary with each payroll period
b) Bonus Percentage
a. Rate deducted from your bonus when paid
Input the percentage you want deducted from each of your salary and bonus amounts, the press “Submit”
Once you have selected the amounts to be deducted and clicked submit, you will be brought to…
Step 5: Successful Enrollment Confirmation
Congratulations. You have now successfully enrolled in the plan. This page simply lists the amounts you have enrolled for. Feel free to print the page for your records if you wish. Select “Close” to end your enrollment session.
You have now successfully enrolled. Your new enrollment will be effective at the beginning of the next offering period, which is the beginning of regular calendar quarters (January 1st, April 1st, July 1st, October 1st). This means that deductions from payroll start on the first payroll after this date.
After you Enroll
Welcome Letter and Account Login
You have now successfully enrolled in the employee stock purchase plan. A financial account will be created for you on the SG Vestia system. You will be mailed a welcome package that will allow you to login to your new account going forward. Included in this package is an online agreement/W-9 form. Please return this form as soon as possible as it is required prior to placing any sell orders.
You can login to the account using the login ID and password contained in the welcome letter. Go to the plan website at www.sgvestia.com/plans. Input your account number and password to login to your account.
Cancel your Enrollment during offering period
The “Manage Enrollment during offering period” page allows you to cancel your enrollment in the plan. This lets you terminate your contributions to the plan. Since you have already enrolled in the plan your previously selected percentages will be displayed for your convenience. Simply click “Cancel” and your cancellation will be effective with the next pay period.
Any money withheld for the quarter will be reimbursed by ACS payroll shortly after your cancellation request; and no purchase will be make for you at the end of the quarter.
Cancellation
You can cancel your plan anytime during enrollment period and offering period. You may not get refund when you cancel in the end of offering period. The refund date will be setup each year.
Increase or Decrease of Contribution
You may change the percentage of contribution to the plan as often as you like with no penalty. The percentage change will be effective after next scheduled file exchange date
Change Contribution for next offering period
The “Manage Enrollment during offering period” page also lets you change the amount you contribute to the plan. The change will take place with the NEXT offering period. You may change the percentages until the end of the enrollment period, which is 15 days prior to the end of the quarter. Once you press the ‘modify’ button you will receive a message that your participation percentage for the NEXT offering period has changed.
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