QS Part 2: Compliance Menu - Plan Specifications

The first time in the module you land on the Plan Specifications page with the Sources & Investment accounts section expanded. After the first time you can go to the Plan Specifications from the Compliance Menu box at the top of the screen, hover over “Plan Specifications”; click on “Edit”. Expand one section or all the sections. Review each section and update as required. 

• 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.

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”.

• Make sure all date fields are populated and in the correct numeric format using the calendar in the box.
• If you want to use employee number, rather than social security number as the unique participant identifier, you should indicate here under “Enter ID for Participant Upload/ Download”. If you are using employee number you will need to edit the census grid you are using by deleting the SSN field and adding the employee number field.

• Review plan specifications and make sure they are in line with the plan document