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Paying fees from forfeitures in Relius


Solé

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I have a client that never makes employer contributions anymore but they have a balance in the forfeiture account. I've tried getting the plan specs for fee payments set up so that fees will first come from forfeiture account then from participant accounts. But every time I try and post the fees it all comes from participant accounts and the balance remains in the forfeiture account. Can anyone help with this? Can I do this through a forfeiture adjustment transaction? 

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Have never seen this set up as an "if not this, then this" arrangement.  I suspect the payment from Participant accounts is hardwired in the admin system. 

What does the plan document say?  In the Relius document, Article 3 Plan Contributions, Sec. 30 "Forfeiture Allocation Method," Box (f) should be checked if the plan is to direct use of the forfeitures to pay plan expenses.   If Box (f) is checked and they are not doing this, then you have another problem.

Patricia Neal Jensen, JD

Vice President and Nonprofit Practice Leader

|Future Plan, an Ascensus Company

21031 Ventura Blvd., 12th Floor

Woodland Hills, CA 91364

E patricia.jensen@futureplan.com

P 949-325-6727

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