Employees will be in one of the following four statuses.
Employee Status |
Definition |
When it will be set |
Pending |
The employee has just been added to the employer portal, and employee eligibility validation has not yet begun. |
|
Ineligible |
Employees will be in the "Ineligible" status when:
In this status, the employee is not eligible to contribute to an IRA. |
Specifically, any of the following conditions cause an employee to be ineligible:
|
Active |
Employees who have met all eligibility requirements are then eligible to contribute and will be in "Active" status. |
|
Opted Out |
Employees who have explicitly chosen not to participate as savers in Delaware EARNS will be marked as "Opted Out." |
|
Employee Detail Statuses
This detailed underlying status drives an employee's overall status.
CIP - Customer Identification Program
Status |
Description |
Pending |
Initial/default value when employees are added; CIP results not yet available |
Verified |
CIP result received; the employee has been verified |
Not Verified |
CIP result received; the employee has not been verified |
Account Status
Status |
Description |
Open |
Account is open |
Open (On Hold) |
Account is open, but has a hold placed on it. Contributions cannot be made. |
Closed |
Account has been closed. Generally only expected if an employee opts out of the program. |
30 Day Waiting Period
Status |
Description |
Met |
30 days have passed since the employee was added to the Vestwell platform; the employee may be eligible to begin contributing |
"X" days left |
Indicates the number of days until the 30 day wait period since the employee was added to the Vestwell platform will be passed; the employee cannot yet contribute |