If you are an ftwilliam.com compliance user, you will benefit from the integration between DTS and Compliance. The software gives you the ability to pull data directly from the compliance software into DTS for Plan Terminations, Partial Plan Termination, Force-Outs and RMDs.
To access the tool, locate the ‘Module Options’ button on the PLAN dashboard and click “Compliance Pull” from the drop down menu. Once selected, a modal will appear with your options:
- Plan Termination;
- Partial Plan Termination and;
- Force-out campaign;
- Required Minimum Distributions.
Note: Corrective distributions and refunds coming soon.
Now select your campaign from the drop down menu and add your filters. There will be different filters depending on the campaign you chose. If you choose the “Force-Out Campaign” the software will populate the maximum balance from the plan document checklist when you are a document software subscriber. For year-ends, the software will populate the most current year-end. If the year-end is incorrect, you may need to run your reports in compliance before proceeding.
Once you’ve entered your filter information, you will have the option to choose an email template to send to the plan sponsor and participant once the distribution records are set-up. If you’ll be using the participant and plan sponsor portals, this will automatically send out invitations to the portal inviting each party to login and fill out distribution details. If you do not want to send invitations at the same time the records are set-up, you can skip this part and proceed to the “Next” button.
After clicking “Next” you should receive your results of the pull in a grid. Each campaign will pull the appropriate data from compliance for you to review before proceeding with distribution record set-up. Simply select your records you want to proceed with by checking the boxes on the left and then click “Pull”. You can also export the results by clicking the link called “Export Grid Results”.
After clicking “Pull” you should see a distribution on your dashboard for each of the participants you selected from the results. The software will populate the contact information for your participants, the “Date of Hire”, “Date of Termination” when appropriate, “Approximate Vested Account Balance”, “Outstanding Loan Balance”, and “Roth Balance”. When the RMD campaign is used, the software will populate the RMD amount for you.
