Contract Changes on Precision
When a client submits a pay rate or contract change for a talent enrolled in a 401(k) pension plan, no new 401(k) form submission is required on Precision — as long as the contribution structure remains unchanged.
The existing 401(k) configuration (e.g., fixed percentage or amount) will automatically apply to the new pay rate once updated in the system.
How 401(k) Structure Works on Precision
Each 401(k) setup in Precision is defined by:
Contribution Type:
Fixed Percentage (e.g., 5% of gross pay)
Fixed Amount (e.g., $200 per pay cycle)
Matching Contribution (e.g., employer matches up to 3%)
Effective Date: The date when the structure is applied.
Contribution Details:
Enter % for fixed percentage contributions
Enter the amount for fixed dollar contributions
Confirm matching contribution values
Yearly Maximum Limit: Once reached, no further contributions are made for the rest of the year.
Example Scenario
Before: Talent contributes 5% of gross pay towards 401(k).
After Pay Increase: The same 5% applies automatically to the new salary — no new Precision form needed.
When to Submit a New 401(k) Form
Only submit a new form if:
The contribution structure changes (e.g. from fixed % to fixed amount, or contribution % updated).
The client modifies their matching contribution policy.
The talent opts to adjust their contribution rate.
Alignment Tip
Before confirming any change, always:
Verify with the client if they intend to keep or update the 401(k) setup.
Ensure consistency with contractual agreements and IRS contribution limits (see annual update on WorkMotion Knowledge Base).
Partner: Workwell Global/PGC
Source: 00333780
How to Join the 401(k)
Offering a 401(k) is optional: It is not mandatory for clients to offer a 401(k) plan to candidates. If they choose not to, there is no obligation to do so.
Onboarding and 401(k) information: U.S.-based workers will receive detailed information about the 401(k) plan during onboarding with PGC. This includes an email outlining how to register and participate in the plan.
Provider and registration: The 401(k) plan is provided by John Hancock, and employees can find registration instructions on the following website: http://www.theplatinum401k-pgc.com/ . Also inside of the talent's benefits portal Employee Navigator.
Here are the key steps for registration:
Go to https://myplan.johnhancock.com/registration and click Register Now.
Enter personal details: Contract Number, Last Name, Social Security Number, and Date of Birth.
Input contract number and access number: that is provided in the instructions and listed on the PGC site listed.
Create login credentials: Enter your email address, then choose a username and password.
Set security questions: These will help verify your identity if you forget your login information.
Review and confirm your details. Once completed, your account will be registered. For future access, use your chosen username and password. If needed, you can reset them via the "Forgot Username/Password" option on the login page.
Partner: PGC
Country-specific or partner-specific: USA
Source 00250214