Rather than contributing by a personal check all at once, payroll deduction offers the option of having a small contribution deducted from each payroll check throughout the year. For example, instead of writing a $120 check, bank employees can have $10 deducted from each month’s paycheck (if paid monthly). The money collected will then be transferred to IdaBankPAC by ACH/EFT or check each month.

Steps for employer to set up payroll deduction:

  1. Assign a deduction code to IdaBankPAC contributions as you would with any other deduction, i.e. Medical, Dental, 401k, etc. Contributions to IdaBankPAC do not qualify as pre-tax deductions.
  2. Provide your solictiable employees with the letter from you and a contribution form, where they can elect the amount they would like to contribute. Once the deduction code has been assigned, enter in the amount being contributed per pay-period.
  3. Your bank’s payroll specialist should send deductions for IdaBankPAC from the employees’ payroll in aggregate by ACH, wire transfer to IdaBankPAC’s account (call for account #) or via a check bundling the deductions within 10 days of the pay period, to the Idaho Bankers Association at:  IdaBankPAC c/o Idaho Bankers Association, P.O. Box 638, Boise, ID 83701
  4. Send Idaho Bankers Association copies of the employees’ initial contribution cards. After payroll has been issued notify the PAC administrator that the funds have been transferred and provide a list of contributors, including their name, home address, employer, title, date and amount of contribution for each individual.  Subsequent deductions need only to include the name, date, and amount.
  5. Any employee who wishes to discontinue his/her payroll deduction contribution to IdaBankPAC must provide a written statement to your payroll deduction staff otherwise the contribution should be deducted regularly from the employees pay check.