"Has anyone updated vesting information in the Voya recordkeeping system? This is my first time handling a vesting update for a plan on Voya. I've just completed the compliance testing and vesting calculations for one of the plans. The plan includes an employer match with a 6-year graded vesting schedule. Since this is a calendar year plan, I'm unsure whether I should update vesting as of the current date or through 12/31/2024, which is the end of the plan year and the period used for the calculation. When I attempted to upload the file using an 'as of date' in separate column by updating 12/31/2024, I received an email from Voya stating that the update failed. Has anyone else encountered this issue? What might be causing the error, and what's the correct process to ensure the vesting update is accepted by Voya?"

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"The Plan defines W-2 compensation to exclude reimbursements and fringe benefits, which is fairly straightforward. However, do some plans treat a taxable pay advance issued under a signed agreement and repaid over multiple payrolls, as eligible Plan compensation? While it technically aligns with the definition of eligible compensation, complications may arise if an employee reduces their contribution election after deferring into the Plan using the advance. Additionally, if a team member leaves early, the company may initiate a clawback, withholding the remaining balance from their final paycheck but possibly no reduction of 401(k) contributions. Does that mean we have to remove the previous 401(k) contribution from the Plan? It sounds to me the easiest way to move forward is this pay advance not be considered eligible compensation due to the downstream impacts and operational headache of the clawback or advance payment."