New New or or Under Under Used Used Fe Features Presented By: Andy - - PowerPoint PPT Presentation

New New or

• r Under

Under Used Used Fe Features

Presented By: Andy Schommer & Jane Nickalls

Agenda

• Options on the Transaction Menu:
• Loans
• Distributions
• Payroll
• Miscellaneous Tasks
• 5500 Data Report
• 1099‐Export
• 8955‐SSA Export
• RMD
• Miscellaneous Reports

The Loan & Distribution Modules

• Set‐up – select hierarchy for sources for both loans &

distributions; pro‐rata or ordering rule

• If using the loan module you need to add a loan fund/account

The Loan & Distribution Modules

• Set‐up required – select hierarchy for investment accounts

for both loans & distributions; pro‐rata or ordering rule

• For loans, also select the loan account on the investment

accounts screen

The Distribution Module

• Option to select a participant & add a distribution –

select whether it’s a full distribution or in‐service/partial

• Fee & account options also available
• For in‐service/partial enter a percentage or dollar

amount

• The system will split the distribution amount by source,

investment account, calculate amounts to be forfeited, and create transaction batches

• Short demo is available

The Payroll Module

• Option to upload payroll data for each payroll –

hours, compensation & contributions by source

• Data will accumulate as more files are uploaded
• Files can be deleted & replaced if added in error
• Allows you to compare hours & compensation to

census data

• You can create transaction batches for any period
• Short demo is available

Miscellaneous Tasks Menu

• The data scrub and one of the financial or vesting

reports need to be run for the plan for any of these to be accurate

• All miscellaneous tasks, except the 5500 participant

counts, can be run across all plans by designated admins

• Beware of this feature for 1099‐R and 8955‐SSA – pushing data

will replace what’s already there!

Miscellaneous Tasks Menu

• 5500 Data Report – calculates participant counts
• ‘Pull’ from the Compliance module when you fill out the 5500
• 1099‐Export – produces a report showing who should be

issued a 1099‐R

• ‘Push’ to the 1099 module
• 8955‐SSA Export produces a report showing who should

be reported on the 8955‐SSA

• ‘Push’ to the 5500 module
• RMD – calculates required beginning dates & RMD

amounts; produces a report and a notice

Miscellaneous Reports

• Access reports not associated with a particular task
• Catchup and Excess
• Summary of Test Results
• Plan Highlights
• Vesting Export – two versions; can also be run across all plans

Resources

• There are helpful sections on each of the topics we

discussed today in the User Guide

• Click the Help link at the top right of any screen in the

Compliance menu and select the first icon

• Short recorded demos are also available on the

new distribution & payroll modules – contact support@ftwilliam.com for a copy

• Join our user group if you haven’t already!

Thank you for attending!

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