Vesting "Tests" and Reporting

[Guest Doug Johnston]

In our firm, we periodically "test" vested %'s for each participant computed by Relius for employer contribution accounts. In the past, we performed the tests by exporting (through Census DER and/or custom reports) the relevant data to determine vested %'s, including prior year vested %, current hours of service, status codes, etc. That made the process fairly automated. In addition, most of our Participant Certificates, and many of our Summary of Accounts and other employer reports have historically reported vested % for each participant.

With v7.0, we are finding (and Relius support has confirmed) that it is virtually impossible to get accurate vesting information on a report. None of Relius' Reportwriter employer or participant statements seem to show the vested %'s either.

1. Is it just me, or do other firms "test" vesting computations and report vesting to participants and employers?

2. Has anyone found a way to export vested %'s from Relius 7.0?

3. Does anyone have any custom participant statements and/or employer reports with vested %'s that they would like to share?

I'm really curious if other firms see this as a serious product flaw. Thanks.

[Guest benji]

Newkirk has a Statement Extraction program in version 7.0. It enables you to produce statements through Newkirk that will provide participants vested percentages and vested balances. It also enables you to produce MACRO level reports for the plan sponsor that does provide aggregate vested percentages and vested balances for the plan.

The statement incorporates a newsletter, plan specific fund performance, and the traditional statement into one 8 page, 4-color mailing.

[pmacduff]

Doug - I'm on 7.0 (SP2) and have not yet upgraded to 7.1. I can still export vesting percentages through a DER. I just export it to a text file and open it in Excel. I know that you were talking about something alittle more elaborate than just vested %s, so I don't know if that is helpful. Did you say that you previously had a DER that worked for you to export the data you wanted? I agree with you on the vesting issue, we constantly "spot check" reports and double check Quantech's calcs. Vesting can be a nightmare, especially on a takeover case. Sorry I wasn't more help. Patti

[Guest Tbrown]

I am currently on 7.1 and have had no problems exporting vested percents. In fact I just tried it and was successful. I also did not have any problems at 7.0. We currently do not use many of the Quantech provided reports but have our own. And I have had no problem at all getting the proper vested percents to display on the reports. The vested percent is nothing more than a database field. We currently are displaying it in the fundid section on the summary of accounts type report.

If you contact Relius support and speak to the reportwriter department, they should be able to give you a couple of formulas to display it properly. If someone there is telling you that it is nearly impossible, I would immediately notify Ken Simons or your sales rep. That is just not true.

Tim

[Tom Poje]

Doug:

vesting is a curious animal. It depends on what type of certificate you are trying to print. As Tim indicated, it can be attached to Fund ID or account ID. This works well for a certificate that prints data horizontally.

now, if you are trying to print the data vertically (a typical portrait report) where you are only showing data by sources - then you do not have the ability to attach vesting. however, assuming that match and profit sharing have the same vesting schedule, the following will work. providing your first account in plan specs is subject to vesting, and when you print you certificates you check 'zero activity accounts' the system will print the correct vesting percentage. You might have to add a dummy account #1 sublect to vesting to get this to work, but it does. And since you are printing by source, it is ok to have a dummy account with no $ in it. If you don't click on zero activity accounts, then the system will print the vested percentage for the first account it finds money in - if this was deferrals then 100% would show up - even if the ee has $ subject to vesting.