After you have all transactional data in the Transactions menu, you will be ready to run statements or other transactional reports. Statements and reports are located either from the Compliance Menu – Transactions – Reports/Statements or by pressing the Print button within the Transaction Batches box on the Transactions screen.
Distribution Report
This report will show all active employees who received a distribution during the plan year and inactive participants with a balance or who received a distribution during the plan year. Before running the distribution report, one of the statement options (such as “Statements – Individual Participant”) must be run first.
The distribution report contains the following fields:
- SSN
- Last Name
- First Name
- Hire Date – First hire date on the system
- Term Date – Last termination date on the system
- Status – Either Active or Term. Based on the status as of the last day of the plan year.
- Source Type
- 401K
- Roth
- Match
- QNEC
- QMAC
- PS
- SH NE
- SH MA
- Rollover
- Roth Rollover
- Distribution Amount –The distribution amount will be a sum of all distribution types, listed by source, then total of all sources.
- Remaining Balance – This is the end balance as of the end of the plan year by source, then total of all sources.
- Vesting % - The vesting percentage will be displayed for each source type.
- Remaining Vested Balance – This is the total vested balance by source.
- Distribution Type – Pulls from the different distribution batch types as coded in the system. Note: if the participant is not active on the last day of the plan year, the type will be classified as “Distribution”. Otherwise the system will display the last distribution type in the plan year.
- Inservice
- ADPACPCorr
- LoanDef
- Distribution
The distribution report is a great tool to use to determine which terminated participants still have account balances that can be distributed. The report is split by active participants, inactive participants with current year distributions and terminated participants with a remaining balance. This report can be printed either as a .csv or word file.
