Welcome aboard, Rcosner.
I'm assuming you have LED buttons like this.

When you break it down, it looks like this.

From left to right, there is a microswitch and LED socket, LED holder, button body, spring, plunger, diffuser that rests in a depression on the top of the plunger and is held down by the translucent cap.
The microswitch works just like the switch in the tankstick button and is wired the same way.
The daisy chain ground goes to the common terminal on the bottom of the switch, and the input to the encoder connects to the NO -- normally open -- terminal.
The LED socket terminals hang down like stirrups on either side of the microswitch -- easier to see them in this photo where the microswitch has been removed from the LED socket.

To keep the wiring consistent and easy to remember, I connect the terminals on the side with the larger black plastic tab to black wires / ground. (the side on the bottom of the picture above)
The red wire / operating voltage connects to the other terminal. (the side of the socket on the top of the picture above)
If the LED doesn't light up, just unplug it, turn it 180 degrees, and plug it back in.
Scott