Employee Statuses

For purposes of reporting to Clients, Peanut Butter uses the following definitions regarding the status of each Client Employee within each SLR Plan:

• Eligible. Client Employee has not yet been invited.
• Invited. Client Employee has been invited to join the Program and/or elect to participate in an SLR Plan.
• Reviewed. Client Employee has declined to participate or asked not to receive future communications regarding the Program.
• Activated. Client Employee has registered her/his Peanut Butter Account, but not yet elected to participate or completed loan verification for participated an SLR Plan.
• Approved. Client Employee has elected to participate in an SLR Plan and completed loan verification.
• Ready for Payroll Alignment. Client Employee has elected to participate in an SLR Plan, completed loan verification, and should have the first contribution recorded on payroll this month.
• Aligned. Program Administrator has confirmed that the first contribution under the SLR Plan will be recorded on Client Employee’s paycheck this month.
• Enrolled. Client Employee will have a contribution applied to her/his student loan account this month.
• Suspension Pending. Client Employee will have her/his final contribution applied to the student loan account this month.
• Suspended. Client Employee will not have a contribution applied to her/his student loan account this month.
• Ready for Realignment. Client Employee has elected to participate in a tiered repayment program, completed a tier, and should have the next contribution recorded on payroll this month based on a new tier.
• Graduated. Client Employee has paid off all qualified student loans and is no longer participating in the program.

For purposes of reporting to Clients, Peanut Butter uses the following definitions regarding the effective dates for each Client Employee within each SLR Plan:

• Qualified Date. The later of (a) the first of the Plan Effective Month or (b) the first of the month following the Client Employee’s hire date plus the holding period for the SLR Plan.
• Approved Date. The date that, electing to participate in the SLR Plan, the Client Employee completed loan verification.
• Payroll Effective Month. The first month that Client Employee is/was scheduled to see a contribution recorded on payroll.
• Contribution Effective Month. The first month that Client Employee is/was scheduled to see a contribution applied to her/his student loan account.
• Suspension Effective Month. The first month that Client Employee is/was suspended from the SLR Plan.