Bulk update of plan 49 election amounts

Hello,

Our organization is requiring all employees who participate in the 457 benefit (Plan 49) at lower than 2% of their gross pay to increase the election to 2%. 

This needs to be done in bulk, all at one time, effective 7/2/2022. I want to write an SQR to accomplish this, but I'm not sure how to approach it. Is it as simple as inserting a new effective dated row to the PS_Savings_Plan table with the new rate for each employee who is under the threshold?

Thanks, Leslie

HCM 9.2, PT 8.57, Image 36