The ABA Retirement Funds Program (“Program”) has undergone an update to its recordkeeping system through Voya Financial. As a result, you will notice the following changes to the Program’s systems:

Here’s what has changed for contribution submissions:

• Contributions that exceed the annual contribution limit will automatically be categorized as catch-up contributions without the need for a separate election. You will no longer need to use separate catch-up contribution-specific sources for salary deferrals and Roth contributions.
• Plans with Safe Harbor non-elective contributions and plans with Safe Harbor matching contributions will also see only one source for Safe Harbor contributions.

Here’s what has changed within Sponsor Web:

• A notification email will go out to Sponsor Web users from Voya Financial (noreply@e.voyafinancial.com) to alert Plan Administrators to new enrollments in their plan.
• Under the Processing Center dropdown, “Payroll Admin” will be replaced by “Contribution Submission” > “Voya PayCloud.” (There is no change for ProgramPay users.)

Here’s what has changed for Plan Access users:

• The Sponsor Web System has replaced Plan Access. All resources found in Plan Access will be available in Sponsor Web.

Here’s what has changed for Participants:

Participants who have elected a 90-day Automatic Account Rebalancing schedule have been transitioned to a Calendar Quarterly Automatic Account Rebalancing schedule. No action is needed on the part of the participant. A communication went out to affected participants to inform them of the change.

If you have any questions, please email us at contactus@abaretirement.com or call the Plan Administrator Line at 800.752.6313, Monday through Friday, 8 am to 8 pm Eastern Time.