Compliance Testing/Elective Deferral Accumulators

[Guest TouchofGrey]

The plan year end period is 12/31/2003. On 12/31/2003 we receive a contribution for the payroll period ending 1/4/2004. We "bucket" contributions for both compliance testing and elective deferral tracking into either a "current" year bucket or a "prior" year bucket. We have no bucket for "next" year, Our system rolls its accumulator buckets as of the last business day of the plan year. Here I am on 12/31/2003 with a contribution I cannot invest without messing up the accumulators. My system protects itself by not allowing a future plan year contribution to be posted until the accumulators have advanced. There is a way that I can post the money, but the accumulators get out of sync and I have to manually adjust them after they "roll". Just wondering if anyone else out there has come across this situation and how you deal with it. In the past we only encountered the problem on a few plans, but now its just getting out of hand. We are using OMNIPlus to accumulate plan information.

Thanks