How To Make 401(k) Contribution Elections and Changes in Workday

Created by Ashley Nunez, Modified on Thu, 8 Aug at 11:42 AM by Ashley Nunez

1.  Log in to your Workday account through the Favorite Website:   www.favoritestaffing.com.  You MUST use your Web Browser to log-in using Single Sign-On from your phone, laptop, or desktop.  Do NOT enroll in benefits via the app.  Corporate employees, use your Single Sign-On.

 

  1. To log in, please use your Mobilize credentials.

 

2. Select Profile.


 

3.  On the Workday home screen click Benefits and Pay under Your Top Apps: 

 

4.  Click Click Retirement Savings.


5.  Select the date you want the change to take place and click Continue:

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6.  Click Continue again:

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7.  To update your Traditional 401(k) election, click Manage and Confirm and Continue:

 

 

 

 

 

8.  Select Amount for a flat dollar amount contribution or Percentage and enter the amount.

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9.  Click the Save button.

 

10.  To update your ROTH contribution (if wanted), click Enroll.

 


11.  Click Select and then Confirm and Continue:

 


12.  Select your contribution type, Amount or Percentage and enter the “per pay period” contribution.  Then click Save.

 

  

13.  Click Review and review your elections.

 


14.  Click Submit and Done.

 

 

 

Things to remember:

 

  • Favorite will match contributions to Traditional or ROTH up to 4%.
  • Maximum contribution percentage is 50%.
  • Changes can be made at any time, but changes being reflected in your pay are subject to payroll processing times.
  • You can view funds by registering at Empower at www.empowermyretirement.com 
    1. Upon registering with Empower, please set up your beneficiaries for your account.  This action can be found in the right-hand corner of the home page.

 


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