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K2retire

Datair PE Win question

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After using Relius Administration for a number of years, I was surprised to learn that PEWin apparently doesn't know that a participant who terminated after reaching the plan's retirement age should be considered "retired" and potentially receive a contribution for the year based on the plan's waiver of allocation conditions. Is there really no way to do that other than to mannually look at each terminated participant's date of birth and change their status to retired?

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After using Relius Administration for a number of years, I was surprised to learn that PEWin apparently doesn't know that a participant who terminated after reaching the plan's retirement age should be considered "retired" and potentially receive a contribution for the year based on the plan's waiver of allocation conditions. Is there really no way to do that other than to mannually look at each terminated participant's date of birth and change their status to retired?

You are correct.

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K2, Can you elaborate on how you have those plans set up in Relius? We've had to code them as "retired" in Relius, too.

Another thing to watch out for is anyone who terminated on the last day of the plan year.

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Kevin, it's been a number of years since I used Relius, but I thought that if the plan specs were properly set up it would look at a terminated participant's age when caclulating the contribution and figure out that they were past normal retirement age.

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if employment status code = R (Retired) instead of T (Terminated)

and the allocation requirements screen in plan specs = 0 then no matter how many hours the person worked they should receive a contribution.

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I have to say here that I recently ran a contribuiton calc for a 401(k) PSP that had a person retire in 2011 and as such, she was entitled to a P/S allocation. She was born in 1945 and retired in September 2011 at the age of 66. She reached NRA the year before (age 65) but continued to work. I did not import the original census, but I am guessing that our president (who wokred ont his plan over the New Year's weekend for the owner, as they have a cash balance plan also) marked her event date as "retired" since that is what she actually was. If that had NOT been done, this woman wouldn't have gotten the allocation, as the plan has a last day rule.

It's been 8 years since I have worked on Relius - <_< I alwyas felt it was better, but our actuary doesn't. :lol:

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I actually had a problem with this issue on one of my large clients. I receive monthly census data and import that all year long and then compare totals to the annual payroll data (W-2) at the end of the PY for a double check. At that time I go through and recode the retirees and early retirees so that I can be sure they get an allocation (from termed" to "retired".

Anyway - for 2011 the client had an issue with the monthly files they were sending, so when I went to reconcile at PYE with the annual data it was all off. A nightmare needless to say, but I ended up having to do a lot of reimports of data. This overrode the status on 6 of my retirees and early retirees back to "terminated" and the system did not give them an allocation.

Thankfully this was discovered quickly and rectified and this is a tax exempt entity - no issues with the deduction (or missed deduction for those 6!).

We are switching to FT William for Admin and I hope these types of things aren't a problem for them!

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Guest john.nasha

Hello All, Sorry for my questions but I really not understand that if employment status code is Retired instead of T (Terminated)

and the allocation requirements screen in plan specs = 0 , what this mean exactly ?

And what about the year plans? I'm newbie .Thanks

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this question started out with a Datair theme, but (for better or worse) some direct references to coding on Relius, so if you are a newbie to Datair I would ignore such comments peratining to Relius coding

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