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New Plan Year Checklist

The 2025 plan year is open

It's time to update participant information for the new plan year

The new plan year begins July 1, and we encourage you to complete these 4 steps before July 31 to ensure employees can take full advantage of their retirement benefits.

Log in to the MyRPB for Employers portal to:

  1. Enroll new employees in the retirement plan on the “Manage Plan Participants” screen.

  2. Enter termination dates for employees who no longer work for you as of June 30, 2024 on the “Manage Plan Participants” screen. You can also enter a future termination date for employees who will be leaving.

  3. Review and update compensation and contribution information.

    • Add a new record for each existing or new employee on the “Adjust Compensation & Contributions” screen using the “+ Add Record” button and setting the effective date to July 1, 2024 or the appropriate start date.1

    • Enter the information for new employees and update the compensation and contribution information for existing employees.

  4. Schedule payments for the new plan year on the “Make Retirement Plan Payments” screen.

    • Always create new employer and employee payment schedules for the new plan year. They don't automatically carry over from the prior plan year.

    • The portal won’t default to the new plan year until July 1.

      • If you’re creating a payment for the 2024 plan year after July 1, select 2024 as the plan year.

      • If you’re creating payments for the 2025 plan year before July 1, select 2025 as the plan year.

    • Use the payment frequency options to align employee contribution payments with your payroll cycle.2

    • Know the IRS annual contribution limits. Visit for more information. Employee contributions can’t exceed the IRS calendar year limit.

Get employees engaged

The new plan year is a great time to raise awareness, encourage employees to save for retirement, and increase participation in your plan.

Resources for you:

Resources to distribute to your employees:

Are your plan payments up to date?

Review and pay all 2024 plan year balances. Go to “View Retirement Plan Summary” to check if there is a retirement balance and then make the required payment.

  1. Or the appropriate date for your organization's fiscal year.
  2. The Department of Labor requires employers to make employee retirement plan contribution payments as soon as possible after the money is withheld from paychecks.
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