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Intuit

State retirement savings plan (Savers program)

Learn what the state mandated Savers programs are and how to set it up in your payroll service.

Savers program is a state mandated retirement plan that is supported through a payroll deduction. It is taxable to all payroll taxes and is modeled after Roth IRA. This contribution does not show on W-2s.

Here are the Savers program mandated by states:

  • Oregon: OregonSaves
  • California: CalSavers
  • Illinois: Illinois Secure Choice

QuickBooks Desktop Payroll

Enhanced, Basic, Standard, and Assisted

Note: Oregon reports are available now, California and Illinois reports will be available mid-December 2019

    1. Go to Lists and select Payroll Item List.
    2. Select the Payroll Item button, and select New.
    3. Select EZ Setup and Next.
    4. Select Other Deductions and Next.
    5. Select Miscellaneous deduction under Deductions and select Next till finished.
      1. Go to Lists and select Payroll Item List, then choose the Miscellaneous deduction just created (double click to edit).
      2. Change the name of the payroll item to:
        • Oregon: ORESAV
        • California: CALSAV
        • Illinois: ILLSAV

    Note that this needs to be named exactly as ORESAV, CALSAV or ILLSAV upper or lower case.

    1. Select a liability account to track to Chart of Accounts.
    2. Set the Tax Tracking type to None, so that the amounts do not report on tax forms, then select Next.
    3. Select the Neither checkbox, select Next.
    4. Choose to calculate on gross pay, then select Next.
    5. Select Finish.
    1. From the Employees menu on top, choose Employee Center.
    2. Double-click the employee's name.
    3. Go to Payroll Info tab.
    4. Add the item from the drop-down list under Additions, Deductions, and Company Contributions.
    5. Update amount per paycheck employee is having deducted.
  1. Go to Reports.
  2. Select Employees & Payroll, then State Mandated Retirement.

Online Payroll

QuickBooks Online Payroll

  1. Go to Workers or Payroll menu, then select Employees.
  2. Select the employee's name.
  3. Select Edit employee.
  4. In the Does [employee name] have any deductions? section, select Add a new deduction.
  5. Fill in the following fields:
    • Deduction/contribution or garnishment: Deduction/contribution
    • Deduction or contribution type: Other deductions
    • Type: Other after tax deductions
    • Description (appears on paycheck):
      • Oregon: ORESAV
      • California: CALSAV
      • Illinois: ILLSAV

      Note that the description of the deduction should be named exactly as mentioned above to generate the report.

    • Amount per pay period: $ amount or % of gross pay
    • Annual maximum (Optional)
  6. Select OK.

Note that if the description of the deduction is named differently, the State Mandated Retirement Plans report won't show up.

  1. Go to Reports and select Standard.
  2. Scroll down to Payroll Reports and select State Mandated Retirement Plans Reports.
  3. Choose Plan and adjust the Date Range as needed, then select Run Report.
  4. You can export the report into an excel file. To export, select Export To Excel from the Share drop-down.
  5. Open the excel to verify if the info is correct.
  6. Delete the top lines, then save the file.
  7. Go to the website to upload the data.

Intuit Online Payroll

  1. Go to Employees and select the employee's name.
  2. In the Deductions & Contributions section, select Edit.
  3. Select Add a Deduction.
  4. Fill in the following fields:
    • Deduction: New Deduction
    • Category: Other deductions
    • Type: Other after tax deduction
    • Description (appears on paycheck):
      • Oregon: ORESAV
      • California: CALSAV
      • Illinois: ILLSAV

      Note: The description of the deduction should be named exactly as mentioned above.

    • Amount per pay period: $ amount or % of gross pay
    • Annual maximum (Optional)
  5. Select Save.

Note that if the description of the deduction is named differently, the State Mandated Retirement Plans report won't show up.

  1. Go to Reports and select State Mandated Retirement Plans in the Employer Reports section.
  2. Choose a Retirement Plan from the drop-down, and adjust the date range as needed.
  3. Select Update Report.
  4. Select View in Excel to download the report.
  5. Open the excel to verify if the info is correct.
  6. Delete the top lines, then save the file.
  7. Go to the website to upload the data.

Intuit Online Payroll Full Service

Contact us and we will add the deduction item for you. From the Help section in your online payroll, select Contact us to connect with a payroll support.

  1. Go to Reports and select State Mandated Retirement Plans.
  2. Choose a Retirement Plan from the drop-down, and adjust the date range as needed.
  3. Select Run Report.
  4. Select Export To Excel download the report.
  5. Open the excel to verify if the info is correct.
  6. Delete the top lines, then save the file.
  7. Go to the website to upload the data.

FAQ

No. Each state has an employer portal in which companies can pay and report each payroll directly online. Visit their website for more details:

The Savers program acts as a payroll deduction IRA, not a retirement plan as defined by the IRS instructions for the W-2. Hence, these contributions will not reflect on W-2s.

Yes, limits follow the standard IRA limits. See Deferred compensation limits for more details.

Yes. Employees can contribute to more than one savings plan or account at a time. However, IRS contribution limits for IRAs are cumulative for all Traditional and Roth IRAs owned by an individual.

At this time, these contributions are made on a post-tax basis. This is subject to change per state law.

Visit the state website for assistance:

 

Visit the state website for assistance:

 

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