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DC/401(k) System

DC/401(k) System. for Administration Testing Proposals. EMPLOYEE BENEFIT SYSTEMS, INC. Please watch this demo once through. Then you may click on any heading to jump to that chapter:. 1: Plan Level Screens. 2: Source Level Screens. 3: Employee Level Screens.

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DC/401(k) System

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  1. DC/401(k) System for Administration Testing Proposals

  2. EMPLOYEE BENEFIT SYSTEMS, INC. Please watch this demo once through. Then you may click on any heading to jump to that chapter: 1: Plan Level Screens 2: Source Level Screens 3: Employee Level Screens 4: Investments and Transactions 5: Reports 6: Import & Export 7: System Layout and Navigation Proceed

  3. EMPLOYEE BENEFIT SYSTEMS, INC. Part 1: Plan Level Screens Return to main menu Proceed

  4. The DC/401(k) System has five main levels.

  5. Information for each Level is organized on screens accessed by horizontal tabs… with subcategories for each on vertical tabs.

  6. with the Plan/Sponsor – Plan/Trust screen. We will start at the Plans level

  7. One of many drop-down boxes This screen has basic identifying information.

  8. The Plan/Sponsor – Dates screen Plan/Sponsor – Dates screen Tracks years when Plan was Top Heavy. Dates roll forward when the plan is calculated and “Update To Next Period” is selected.

  9. The Plan/Sponsor – Sponsor screen Plan/Sponsor – Sponsor screen You may attach multiple plans to the same sponsor. Then the census data is shared by all plans under that sponsor.

  10. The Provisions – Eligibility screen Provisions – Eligibility screen The Advanced button offers full flexibility in defining eligible groups. • Set up plan eligibility including: • Computation period • Included and excluded classes • Determination of Years of Service

  11. Provisions – Comp screen Compensation is source-specific. Elect to recognize comp from Entry Date. Here you define the compensation period, and the component parts of comp that will be excluded.

  12. “Activate” Top Heavy here. The Provisions – Limits/TH screen Provisions – Limits/TH screen Defines annual dollar limits and adjustments for Top Heavy plans. You may override them for nonqualified plans.

  13. Provisions – Vesting screen Provisions – Vesting screen Here we have requirements for vesting service and the exceptions resulting in immediate vesting… also forfeiture handling. Note: These are not the vesting schedules. We’ll find them on the Sources Level.

  14. Provisions – Ret screen Provisions – Ret screen Setting the criteria for Normal and Early Retirement. Also defines the start date for Minimum Distributions.

  15. Assumptions – 410b/401a4 screen This screen sets the plan provisions for non-discrimination and coverage testing.

  16. Assumptions – 410(k)/m screen Language to print on test results explaining why failed test is deemed to pass. Here we have the ADP and ACP test parameters.

  17. EMPLOYEE BENEFIT SYSTEMS, INC. Part 2: Source Level Screens Return to main menu Proceed

  18. A great variety of DC source types have been pre-defined. You may define an unlimited number of sources: each with its own eligibility, vesting provisions, and allocation method.

  19. The Eligibility -- Participation screen Eligibility -- Participation screen Entry date options Service crediting The entry requirements to become a participant in this source

  20. The Eligibility -- Participation screen Eligibility -- Contribution screen Current employees Former employees The requirements to receive a contribution and forfeiture allocation

  21. to complete the prior schedule. Vesting – Regular/Top Heavy screen If your plan had a prior vesting schedule, enter the date here… and click here: Vesting schedules (regular and Top Heavy) are defined on this screen. As we already saw, the vesting service definitions and exclusions are defined at the Plans|Provisions|Vesting screen.

  22. from simple Salary Proportion (dollar or percent), to Graded for any class-tiered formula. Define the formula for each class using the many fields and operators. Allocation – Contribution screen Virtually any allocation formula can be designed:

  23. EMPLOYEE BENEFIT SYSTEMS, INC. Part 3: Employee Level Screens Return to main menu Proceed

  24. Census – Employee screen The employee census information may be entered on this screen, or imported. Social Security Number and Employee Number are not required unless you import census data. Note that system will determine HCE status.

  25. Census – Service screen Years of Service and hours worked for various purposes are calculated. For participants receiving distributions, details of the payout schedule and amount may be entered.

  26. Census – Addr, etc. screen Code to identify family members for attribution rules For RMD Calcs Participant address and beneficiary information

  27. Step 1. Use the Add button to move field definitions from Available to Selected. Census – Edit screen Step 2. Use the Up and Down buttons to position fields. This screen is a powerful and friendly utility that lets you quickly create spreadsheets, employee listings, data entry forms, and export files.

  28. Enter information for selected employees. Drag this bar to freeze columns to its left. Instantly re-sort the listing by clicking on any column header.

  29. Use the Right Click function to change blocks of fields easily. Export grid as either an Excel file or a .csv file.

  30. The system lets you input, import, and override payroll data in a variety of ways. Because the employee data is held at the Sponsor level, you only need to import once for multiple plans. The compensation definitions at the Plan level will automatically calculate the correct comp for each plan for testing and valuation purposes.

  31. The Employee Sources screens let you view and modify financial information for each employee.

  32. Accounts – Loans screen • Make sure that loans • are enabled: • At the Plan Level (Misc – Loans) • At the Source Level (Type/Name – Detail) Select Loan Source. Click “Amort Loan.” Click “New Loan.” Set up and edit participant loans for automated loan processing. 

  33. Complete loan parameters. Print the schedule. Set up and edit participant loans for automated loan processing.  Click “Apply.”

  34. Many of the fields are completed from the Amortization Schedule. Set up and edit participant loans for automated loan processing. 

  35. Testing – Top-Heavy screen Testing – 415 Limits screen the 415 Limits screen to understand why any limitations have been imposed on the Sources – Detailed screen. You will want to refer to both the Top-Heavy screen and…

  36. EMPLOYEE BENEFIT SYSTEMS, INC. Part 4: Investments and Transactions Return to main menu Proceed

  37. You may define and attach to this plan an unlimited number of investment types using either dollar or share accounting. If loans are allowed, you will set up a loan investment here.

  38. Select the type of gain/loss. Select the allocation definition. Select the allocation basis. On these screens you set up the parameters for allocating gain/loss, expense, adjustments, and transfers. Let’s look at gain/loss.

  39. The Transactions | Allocations | Results tab displays how transactions will be allocated among the participants. 

  40. EMPLOYEE BENEFIT SYSTEMS, INC. Part 5: Reports Return to main menu Proceed

  41. The standard and custom reports are grouped into the seven vertical tabs on the left side of the Report Scheduler. Choose the printer (including .rtf and .pdf); selection and sorting criteria; font types, sizes & colors; borders; logos; and much more! We will briefly describe how to access, modify, and print reports. Click on Report Setup to globally modify the appearance of your standard reports.

  42. The tabs on the right side let you control the printing and appearance of the reports. Click the box to the left of each report title for one or more reports.

  43. The Select tab lets you display or suppress certain information.

  44. Some reports let you specify certain employees.

  45. The Sort tab provides multiple criteria and levels for sorting employees.

  46. The Printer tab lets you further customize the report and then choose to print or save it as a .pdf or word processing file. Remember: you can preview all reports before printing!

  47. EMPLOYEE BENEFIT SYSTEMS, INC. Part 6: Import & Export Return to main menu Proceed

  48. Transfer 5500 & 1099R data from DC/401(k) to Pension Reporter System. 1. Export to other DATAIR Systems.

  49. Pick a fund company conversion interface. Choose the import file. 2. Import from Daily Val fund Companies. Find detailed instructions for each fund company link at our “F1” Help. Downloads from Daily Val Providers American Funds, AXA Equitable, FasCore, Great West Life, Guardian, Hartford, ING, Lincoln National Life, John Hancock, MassMutual, MetLife, MFS, Minnesota Life, Nationwide, Oppenheimer, Principal, and Transamerica

  50. 3. Data Import Assistant for customized import/export routines Here you can click on field names within categories to easily build or modify a template to import or export data. You can even view your data file above your work screen.

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