For the first year that the plan is using the ftwilliam.com Compliance Module, the system assumes that prior year data, such as ownership, family attribution, hours and compensation, were the same as the current year. You may need to add additional data to correct any prior year differences that impact plan calculations; the easiest way to do this is to use a supplemental grid.
From the Compliance Menu at the top right of your screen, hover over “Census” and select “Other Import/Export/ Reports”; select “* ftw First Year Supplemental Census Grid” – this grid is generally added from the “UD Grid 1” drop-down box - and click “Save selections”. Click “Edit Data” to open the grid. You may need to add supplemental data in the following situations:
- The plan has a 1000 hours requirement and there are participants who worked fewer than 1000 in the current year but more than 1000 in prior years. You should enter the actual prior years of service, i.e. prior to the current year, for these individuals in each of the Prior YOS columns - for each contribution source and for vesting.
- There are compensation differences between the current and previous years that would impact HCE or Key Employee determination. Enter actual prior year compensation in the “Compensation Statutory Prior Year” column.
- If you are doing Top Heavy testing and there were in-service distributions taken in prior years. You can enter the amounts in the grid in the “TH Inserv Distrib Yr1, 2, etc” columns. Note that Year 1 is the current plan year.
- The plan is using the Top Paid Group (TPG) election for determining HCEs. You need to indicate who was in the TPG in the prior year - this is the third from last column on this supplemental grid.
- There are one or more former key employees on the census – you can tag someone as a former key by selecting Yes in the “Key_EE Prior Year” column. You can also code someone as a current key employee by selecting Yes in the “Key EE Determ Date” column.
Once you have all the necessary supplemental data added, return to the Compliance Menu; note that you do not have to enter data into all fields on the grid.
Q.S. Tip: If you have a large amount of supplemental data to enter you can download the grid to a worksheet, add the data to the worksheet, save as a .csv file and upload. |
Please note that the Other Import/Export/Reports menu can also be used to create custom reports. You can add any grid on this screen then download the data to Excel (click the Excel icon), or open in Word (click the Word icon). In addition if you want to see more detailed calculations you can add a grid to show these, e.g. add the “ ftw Self Employment Calculations” grid to see more detail on how the earned income amount was calculated.
