- Select the asset custodian and enter the financial data import ID code, if applicable.
- Click the “Work with Sources/Inv Accounts” link.
- Make sure all the sources in the plan are displayed; if there are some missing, click the “Add Default Sources” link. Suppress any unused sources. If sources are still missing please review the rest of the plan specs then return to this screen and click on Add Default Sources again.
- Review the vesting schedules and adjust if necessary.
- If you will be allocating earnings, review the earnings allocation method and factors and adjust if necessary.
- You can indicate on this screen whether the plan will be tracking participant balances by ftw investment account. If you do answer yes here, you will need to click the “Work with Investment Accounts” link and add one or more accounts. Note the following regarding investment accounts:
- AccountID - this is the unique identifier for the investment used by the system; this field is limited to 12 characters. Note that for accounts held with an asset custodian you must use “Vendor”.
- Account Name - you can assign a name to the investment; this name will be used to identify the investment on the client reports and is always editable.
- Account Description - this is a field you can use to enter more detailed information about the investment; it is not used in any other areas or reports.
- Type - select “Brokerage” for brokerage accounts and “Cash” for all other investments. “Unit” is not currently an active option. Please refer to the User Guide or the User Forum for more details.
- Be sure to click the “Update” button when you are finished adding accounts.
- To quickly add all accounts to all sources check the box at the bottom of the screen “Add all Investments to all Sources” and click on the Update button.
Q.S. Tip: In ftwilliam.com a brokerage type investment account is an asset account for one participant with multiple contribution sources. |
Q.S. Tip: If you are using an asset custodian and not tracking participant loans separately then select No to “Use Investment Accounts to track Participant balances”. If you are responsible for allocating gains/losses, or using the loan module, or the plan has assets in different places, you will need to indicate “Yes” here. |
Once you have added your investment accounts, do the following on the Work with Sources screen:
- Suppress any sources that will not be used – note that you can check multiple sources and select “Suppress” from the “Do with selected” drop-down. Or use the option on the Work with Investment Accounts screen to add all accounts to all sources.
- Click “Update”.
