There are occurrences where the loan payment date that is set up for a participant's new loan does not align with the company's payroll schedule in error, even if it set up for the correct frequency. The sponsor will typically reach out in response to the Loan Amortization Schedule notification, similar to the below example, advising us of the correct paycheck date. The date can be corrected in the participant's census in Relius.
Please note that if the pay frequency is changing (biweekly to weekly or montly to semi-monthly for example), we should not proceed in just changing the date and the loan would instead need to be reamortized.
1) Open the participant's census in Relius and select the Loan tab.
2) Double click the appropriate loan to open the loan detail. Correct the "Date of Next Payment" field and hit save.
3) After you have saved changes, select "View Amortization Schedule." Save this file and send to sponsor for their records.