Is anyone attempting to run ESOPs on Relius? We do run our ESOPs on Relius, but do run into several calculations that must be done outside the system. (release of shares, 1042 allocation limits, 415, etc.)

Does anyone have any tips or tricks to make ESOPs easier to run on Relius they would be willing to share through a user's group?

We would also like to simply our statements by combining different stock funds together for particiapnts. (Loan 1, Loan 2, 1042 stock,etc.) They get confused by all these different stock funds.

Does anyone use an ESOP software that "does it all" or close to it?

I'd be interested to keep tabs on this thread, although I may not be able to partake in a users group, you can email me at william.thompson1@att.net. I have some information on the release transactions, and trade restrictions, although account balance import would be required on the Relius system in order to make a go of it. I would look into the import of fund x source x participant: this may be a system policy restriction within your company, but if you're allowed to use it, it can be a real boon for unit transactions. Not for the weak of heart, I would suggest a standalone system with some IT support.

Also, regarding reports for ESOPs, there are a couple of different methods to require Crystal reports to aggregate line items for Account1, Account2 as you described - the most current version of the report writer would be the desired version for this in order to utilize conditional formatting.

Bill Thompson
Seattle area

I have run them as follows:

acct 1 - cash
acct 2 - stock
acct 3 - loan
acct 4 - unreleased shares

I create a dummy ee to hold the shares, and track the loan as 'negative'. only the dummy has account 3 and 4
so for a new plan, I have, for example, 1 million in shares and a negative million in loan, so total balance = 0.
I then run a negative contribution = # of shares released to the dummy ee, and a positve # of shares to all other employees. These two transactions net out. If need be, I do this in two steps. Step 1 principal only. check for the 1/3 rule with HCEs. I have a customized allocation report separating the HCEs from the NHCEs.
That is a real simplified explanation, obviously there is more to it than that.
I run a positive contribution to the loan account.