Important Update: Changes to Sub-account Contributions in eMoney 

As part of our ongoing efforts to improve the eMoney platform, we are introducing an update that affects how contributions to sub-accounts are handled for qualified retirement and deferred compensation accounts.  

It’s important to note that this change only applies to sub-account contributions—the way contributions are handled at the parent account level will not be impacted by this release. 

What’s Changing? 

Currently, qualified retirement and deferred compensation account contributions can be entered at either the parent account or sub-account level. The ability to enter sub-account contributions is unique to these account types, while contributions for all other accounts (cash, taxable, etc.) are only handled at the parent account level. Contributions will now only be managed at the parent account level to create consistency across all account types. 

Why is This Change Being Made? 

This update is focused on reducing confusion and streamlining the process by creating a consistent approach across all account types.  

When Will This Happen? 

• October 24: Starting on this date, users will no longer be able to add new contributions to sub-accounts for qualified retirement and deferred compensation accounts. All new contributions must be entered at the parent account level. 

• November 3: We will run an automatic data migration to move existing sub-account contributions to the parent account level. Most users will not need to take any action during this process. 

• December 6: Sub-account contribution data will be cleared from the system, and contributions will only exist on parent accounts moving forward.