Businesses provide a basic employee roster during RetirePath Virginia registration. RetirePath contacts employees directly using the email or mailing address provided by the employer. A series of communications sent to each employee explains how the program works, how to set up the account, and how to opt out if they wish.
The notifications inform employees that they have 30 days to opt out or adjust their account. If an employee takes no action, they enroll automatically with the default savings and investment selections. Employees can opt out or change their savings rate at any time.
Employers maintain their employee roster and submit employee contributions each pay period.