14. Roster Processing

Transcription

1 14. Roster Processing Plan processing Roster processing Roster processing roster list You can create rosters by entering data manually or by using the file import capability. If you want to create the roster by importing a data file, follow the instructions found in Section 15: Import Data File. To process rosters by entering data manually, click on Roster processing in the left navigation menu. You will have the option of modifying an existing roster held as a work-in-progress (Edit roster), creating a roster pre-filled with information from a prior roster (Model roster), or building a completely new roster (Create new roster). For detailed instructions and views of the screens that you will use to create or edit a roster, see the instructions that begin on page For a quick reference, you can print the guides found on the next six pages, but keep in mind that processing procedures may change from time to time. If you do print the reference guide, please refer back to this administration guide periodically to ensure that you have the most current instructions. American Funds Recordkeeper Direct Administration Guide Page 14.1

2 Roster processing reference guide CREATE A NEW ROSTER (Page 1 of 3) I. Log on to the Plan Sponsor website ( and then click on Roster processing in the left navigation menu. II. Click on the Create new roster button. A. Select the appropriate status(es) (e.g., active, terminated, etc.). B. Select the appropriate contribution type(s) under Available money types (e.g., employee elective deferral). If you are submitting loan repayments, be sure to check the loan payment box. C. Skip the Affiliate and location and Additional items sections. D. Click on Continue at bottom of screen. III. On Roster Processing screen: A. Update the payroll date if necessary. Date must be in mm/dd/yyyy format, or an error will occur. B. If there are loan payments, indicate if the loan repayment date should default to the roster payroll date. C. Indicate if you would like to use a forfeiture account to help fund this roster. If you check yes, a subsequent screen will allow you to enter the amount to be funded from the forfeiture account(s). Forfeiture assets may not be used to fund employee contributions. D. Select ACH as payment type. If your plan uses multiple bank accounts for ACH transactions, you will be able to select which account(s) to use. E. To alphabetize participant names, place the cursor in the green bar section of the NAME column and click once. F. Do not check the boxes to the left of the SSN for each participant (under the DELETE column). These boxes should be checked only if you want to delete the participant from the roster. G. Position the cursor in the first money source column to the right of the first participant with a contribution, highlight the field and enter the dollar amount of his/her contribution. If there are additional money sources (e.g., employer match), tab and enter the amount in the appropriate money source column. Do not process any loan payments yet. H. Tab to the next participant and continue entering the contribution amounts. I. After you have input the contributions for all participants: If there are no loan repayments, go to Section VI. If a participant does not appear on your roster, go to Section IV. If you need to make loan repayments, go to Section V. American Funds Recordkeeper Direct Administration Guide Page 14.2

3 Roster processing reference guide CREATE A NEW ROSTER (Page 2 of 3) IV. To add a participant to the roster: A. Select Add participant(s) to roster. B. On the Roster Processing Search screen, type in the first 7 characters of participant s last name and click on Search. 1. If the participant appears: Select his/her record by placing the cursor in the box to the left of the name and click once (check mark will appear in the box). Click on Add selected to roster, and input the contribution(s) for the new participant. 2. If participant does not appear, search by SSN. 3. If the participant is still not found: The participant needs to be added to the system before you can continue to process the roster. Select Participant add/update under Plan Processing on the left navigation menu. Enter the participant s SSN, click on Search, respond Yes on the next screen, and then follow the online instructions. C. Once the participant and his/her investment elections have been added to the system, click on Roster Processing and select the roster you were working on. The status will be Work-In-Progress. D. Click on the Edit Roster button. E. Follow steps A through B above to add the new participant to the roster. F. After you have input the contributions for all participants, and if there are no loan repayments, go to Section VI. If there are loan repayments, go to Section V. V. To process loan repayments A. Click on the 0.00 value in the LOAN PAYMENT column. B. On the detail screen, update loan ID if applicable, tab over to the payroll date, and enter the dollar amount. C. Repeat Step B if there are repayments for multiple loans for the participant. D. Click on Calculate total at the bottom of screen, and then click on Add to roster. E. Repeat steps A through D for all participants with loan repayments. VI. Click on Recalculate (this button is located above and below the participant list). A. Verify that your grand total and the totals for each contribution type are correct. American Funds Recordkeeper Direct Administration Guide Page 14.3

4 Roster processing reference guide CREATE A NEW ROSTER (Page 3 of 3) VII. Click on the Transmit roster button. A. Verify screen. Verify that payroll date, contribution type(s) and dollar amounts are correct; verify your bank account routing number. Click on Continue to continue transmitting roster. B. Notification screen. Type in the address if you want to send notification that this roster has been processed. Click on Submit to continue. C. Warnings. If you receive a warning message, open the dialog box so that you can review the warnings. The most common warning is Participant has default plan allocations, which appears for participants who have not chosen investment elections and, therefore, have their contributions invested in the plan s default investment option. The participants SSNs will be displayed so that you can notify them. This type of warning is informational only. To accept the warnings and continue transmitting, click on Continue. If you have questions about the warnings, contact the ongoing services group. D. Confirmation screen. Click on Print this page and retain the printed confirmation for your records. Then click on Return to roster list. VIII. Verify that the roster you just processed is in HELD status. If not, contact the ongoing services group. IX. Click on the Log Out button (top right corner). American Funds Recordkeeper Direct Administration Guide Page 14.4

5 Roster processing reference guide MODEL A ROSTER (Page 1 of 3) I. Log on to the Plan Sponsor website ( and then click on Roster processing in the left navigation menu. II. III. Select the roster you want to model by placing your cursor in the circle to the left of the roster and click once (a small black dot will appear within the circle). Click on the Model roster button. A. Update the payroll date. Date must be in mm/dd/yyyy format, or an error will occur. B. If there are loan payments, indicate if the loan repayment date should default to the roster payroll date. C. Indicate if you would like to use a forfeiture account to help fund this roster. If you check yes, a subsequent screen will allow you to enter the amount to be funded from the forfeiture account(s). Forfeiture assets may not be used to fund employee contributions. D. Select ACH as payment type. If your plan uses multiple bank accounts for ACH transactions, you will be able to select which account(s) to use. E. To alphabetize participant names, place the cursor in the green bar section of the NAME column and click once. F. Update the dollar amounts of participant contributions as necessary. G. After you have input the contributions for all participants: If there are no loan repayments, go to Section VII. If a participant does not appear on your roster, go to Section IV. If you need to make loan repayments, go to Section VI. If you need to add a contribution source, go to Section V. American Funds Recordkeeper Direct Administration Guide Page 14.5

6 Roster processing reference guide MODEL A ROSTER (Page 2 of 3) IV. To add a participant to the roster: A. Select Add participant(s) to roster. B. On the Roster Processing Search screen, type in the first 7 characters of participant s last name and click on Search. 1. If the participant appears: Select his/her record by placing the cursor in the box to the left of the name and click once (check mark will appear in the box). Click on Add selected to roster and input the contribution(s) for the new participant. 2. If participant does not appear, then search by SSN. 3. If the participant is still not found: The participant needs to be added to the system before you can continue to process the roster. Select Participant add/update under Plan Processing on the left navigation menu. Enter the participant s SSN, click on Search, respond Yes on the next screen, and then follow the on-line instructions. C. Once the participant and his/her investment elections have been added to the system, click on Roster Processing and select the roster you were working on. The status will be Work-In-Progress. D. Click on the Edit roster button. E. Follow steps A through B above to add the new participant to the roster. F. After you have input the contributions for all participants, and if there are no additional contribution sources or loan repayments, go to Section VII. If there are additional contribution sources, then go to Section V. If there are loan repayments, then go to Section VI. V. To add a contribution source (e.g., employer match): A. Select Modify columns. B. On the Roster Processing modify roster columns screen, click on the box next to the additional contribution source(s) to be added to the roster. At the bottom of the screen, click on Save and return to roster. C. Input the additional contribution source contributions. If there are no loan repayments, go to Section VII. If there are loan repayments, go to Section VI. VI. To process loan repayments A. Click on the 0.00 value in the LOAN PAYMENT column. B. On the detail screen, select the correct loan ID from the dropdown window, tab over to the payroll date, and enter the dollar amount. C. Repeat Step B if there are repayments for multiple loans for the participant. D. Click on Calculate total at the bottom of screen, and then click on Add to roster. E. Repeat steps A through D for all participants with loan repayments. American Funds Recordkeeper Direct Administration Guide Page 14.6

7 Roster processing reference guide MODEL A ROSTER (Page 3 of 3) VII. Click on Recalculate (this button is located above and below the participant list). A. Verify that your grand total and the totals for each contribution type are correct. VIII. Click on the Transmit roster button. A. Verify screen. Verify that payroll date, contribution type(s) and dollar amounts are correct; verify your bank account routing number. Click on Continue to continue transmitting roster. B. Notification screen. Type in the address if you want to send notification that this roster has been processed. Click on Submit to continue transmitting the roster. C. Warnings. If you receive a warning message, open the dialog box so that you can review the warnings. The most common warning is Participant has default plan allocations, which appears for participants who have not chosen investment elections and, therefore, have their contributions invested in the plan s default investment option. The participants SSNs will be displayed so that you can notify them. This type of warning is informational only. To accept the warnings and continue transmitting, click on Continue. If you have any questions regarding the warnings, contact the ongoing services group. D. Confirmation screen. Click on Print this page and retain the printed confirmation for your records. Then click on Return to roster list. IX. Verify that the roster you just processed is in HELD status. If not, contact the ongoing services group. X. Click on the Log Out button (top right corner). American Funds Recordkeeper Direct Administration Guide Page 14.7

8 Roster processing roster list The roster list appears when you click on Roster processing in the left navigation menu. From this screen you can modify an existing roster held as a work-in-progress by clicking on the Edit roster button. You can create a roster pre-filled with information from a prior roster (Model roster) or build a completely new roster (Create new roster). The Search for rosters function allows you to view all rosters that meet criteria you set, such as those created within a specified date range or having a certain status or contribution totals. The date range search feature allows you to retrieve any roster created in the last two years. If searching for rosters older than two years, the Plan Reports function must be used. Refer to Section 18.5 Plan Reporting for instructions. American Funds Recordkeeper Direct Administration Guide Page 14.8

9 Roster processing create new roster -- choose roster criteria To build a new roster, click on the Create new roster button. You ll be taken to the choose roster criteria screen shown below, where you specify the criteria to be used to build the roster. Your roster will be pre-filled with the participant status, contribution types, payroll locations and other information you select. Select only the status(es), contribution type(s) and other criteria for which you have investments to minimize the need to scroll horizontally to see all the columns in your completed roster. After selecting your criteria, click on the Continue button. American Funds Recordkeeper Direct Administration Guide Page 14.9

10 Roster processing create new roster -- establish roster On the Establish roster screen, make the appropriate selections for the following: The payroll date defaults to the current date. Enter the actual payroll date that corresponds to the roster contributions if it is not the current date. Indicate if the loan repayment date should default to the roster payroll date. Indicate if you want to use a forfeiture account to fund the roster (see page 14.12). Select ACH as your payment type. If your plan uses multiple bank accounts for ACH transactions, you will be able to select which account(s) to use (see page 14.13). For each participant with an investment, enter the contribution amount in the column corresponding to the contribution type. To facilitate data entry, click on the Modify columns button to display only selected contribution columns (see the following page). If loan payment is one of your contribution types, click on the 0.00 for each participant with a loan payment to go to the Loan payment details screen (see page 14.15) to enter the payment amounts. When you have entered all contribution amounts and verified the totals, click on Transmit roster to submit the roster. American Funds Recordkeeper Direct Administration Guide Page 14.10

11 Roster processing modify roster columns You can click on the Modify columns button on the roster processing screen to make it easier to enter data into the contribution roster. Select the fields you want to appear in your roster by clicking on the box next to the appropriate field(s). It is important that contributions are allocated to the proper money type. If you are not sure which column heading(s) you should select for your employer contribution(s), please check with your TPA. American Funds Recordkeeper Direct Administration Guide Page 14.11

12 Roster processing transmit roster -- forfeiture account(s) If you use your plan s forfeiture account to fund all or part of the employer contribution, use this screen to indicate the amount to be funded from the forfeiture account(s). Please note: Forfeiture assets can only be used to offset employer contributions. They cannot be used to fund employee elective deferral contributions, rollover contributions or loan payments. After you have entered the amounts to be taken from the forfeiture account(s), click on the Calculate button in the Roster funding summary section to calculate the balance of the amount that must be transmitted with the roster. When you have verified the roster total and the forfeiture funding, click on the Continue button to transmit the roster. American Funds Recordkeeper Direct Administration Guide Page 14.12

13 Roster processing transmit roster bank accounts to fund roster If your plan uses multiple bank accounts for ACH transactions and you select ACH as your payment type, you will see the screen below, which will allow you to indicate which account(s) should be used to fund the roster. Enter the amounts to be withdrawn from each account until the full roster amount has been funded (Balance to be funded will show as $0), and then click on the Continue button. If the total amount entered does not equal the roster amount, you will receive an error message and will be unable to continue until the correct amount has been entered. Note: If you use multiple bank accounts with your plan, we encourage you to add a descriptive title for each to help you identify the correct account to use to fund the roster. The ongoing services group can help you determine appropriate descriptors when you add a new bank account to your plan. American Funds Recordkeeper Direct Administration Guide Page 14.13

14 Roster processing transmit roster verify Once you have selected Continue, you will see the screen below, which allows you to verify that the proper bank accounts and funding amounts were entered. If all of the information is correct, select Continue to transmit the roster. Select Cancel and return to roster if you need to edit any of the information before transmitting the roster. After the roster has been transmitted, you will receive confirmation of the transaction. An notification will automatically be sent to the recordkeeper, and you will have the option of entering additional addresses if you want to send additional notifications. American Funds Recordkeeper Direct Administration Guide Page 14.14

15 Roster processing Loan payment details When you click on the 0.00 value that appears on the Establish roster screen for a participant with a loan, you will go to the participant s Loan payment details, where you need to enter the following information for each loan: Loan ID. Click on the appropriate loan ID from the drop-down box. Loan payroll date. Input the payroll date that corresponds to the payment. Amount. Input the dollar amount of the loan payment. When you have entered all of the loan information, click on the Calculate total button to verify the total loan payment amount and then click on the Add to roster button. American Funds Recordkeeper Direct Administration Guide Page 14.15

16 After you have finished processing the roster, click on the Submit button. A confirmation screen will let you know that the roster has been transmitted successfully. When using ACH as your payment type, your bank account(s) will be debited for the roster amount within one to three business days following the transmission. Transmit only rosters that have been completed and will be funded. If you re working on a roster and are unable to complete it, or if it will not be funded currently, click on the Save as work-inprogress button so you can return to edit the roster at a later time. If you inadvertently process the same roster twice, please contact the ongoing services group immediately to determine the appropriate corrective procedure. For more details about corrective procedures, please see page 4.3. The system calculates the totals for all contribution types based on values entered or imported and shows the totals at the bottom of the screen. It is your responsibility to verify that the totals are accurate before transmitting the completed roster. American Funds Recordkeeper Direct Administration Guide Page 14.16