Auto Enroll Feature with Financial Institution Where They Track Hours and Determine Elig. But Not Bundled Plan

[HarleyBabe]

Have a plan that is auto everything crazy. I guess not such a bad thing in some ways. First I think they would go bundled if it weren't a complex plan but they want the financial institution to track hours and reach out to the newly eligible to invite them to enroll so they don't have to worry about enrollment. I wouldn't be so concerned if there weren't a 1000 hour requirement on the plan. The requirements are age 21, 1 year of service where 1000 hours is worked and then monthly entry. We have a meeting this week with the financial institution, myself, the client and a few others to implement this and address concerns. My concerns are bottom line, it being done wrong and me not finding out until year end. I am looking for thoughts and concerns and others experience with this. I'm sure I'm not thinking of everything. I just see a lot of room for auto error. I

It has been explained to me that the institution will receive a payroll feed every week and hours and when it hits the requirements, that a notice will go to the participant to enroll. I'm just leary, maybe needlessly. Can someone offer me their experience and maybe topics I should discuss in regards to this.

[K2retire]

I have similar concerns. According to a large record keeper that we work with, the standard eligibility provisions of 1000 HOS in the first anniversary year, switching to plan year after that, is something they cannot track. If they are tracking plan year vesting, their system automatically resets to zero on the first day of each plan year and they do not have a way to determine if the participant reached the 1000 HOS threshold unless it is reached in a plan year.

[HarleyBabe]

Yes, I'm not sure how this will work. I don't think it can but I'm curious how bundled plans handle this. Unless they just do it wrong. Can you think of other concerns. I'm trying to come up with all the potential issues.