The ‘funding date’ field is used to determine when a contribution or balance transfer will be visible on an employee’s account. Generally the ‘funding date’ is the payroll date or rollover date. If the ‘funding date’ is in the future, the system will post contributions on the given funding date; if it is in the past, the system will post contributions on the date the contributions file is processed.
Once the contributions are posted,
- Employees will NOT see any payroll contribution records for FSA and LPFSA, as these are front-loaded accounts. They will see rollover records.
- DCFSA, Transit, and Parking balances will immediately be updated
- Balance transfer contributions will immediately be updated
- HSA balances will display in the employee’s account in 2-3 business days