Dawn Hafner Posted July 30, 2002 Posted July 30, 2002 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? DMH
BeckyMiller Posted August 7, 2002 Posted August 7, 2002 Dawn, we found that doing ESOPs on Relius is frequently too complicated to justify the investment in special programing. You get too many different populations of eligible and ineligible employees, unique attributes for dividends, tracking basis on released shares at historical cost (not FMV on allocation date), measuring 415 under special ESOP rules, etc. For a non-leveraged plan, it works great. But after that, it needs to be manipulated.
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