Mass Mutual: Allocated Link

Transcription

1 Mass Mutual: Allocated Link Overview The Relius Administration system provides three functions for Mass Mutual clients. Each of these three functions are described in this guide. The four functions are: Transactional import of participant data Section I Contribution Export Section II Census Export Section III Transactional Import - The Relius Administration system allows you to import transactional data from Mass Mutual using the Allocated Links functionality. The Allocated Link simplifies the import of the Mass Mutual financial download file because it is programmed to read the Mass Mutual file format directly without having to set up a DER under the Transaction Import functionality. Also the Allocated Link allows you to exclude certain transaction types during the import and consolidate the import of the data by source. Importing the transactional data allows you to quickly perform the necessary annual compliance testing within Relius Administration. Contribution Export - The export utility also you to provide quickly, by date range, contribution, forfeiture, and loan repayment information to Mass Mutual for import into their recordkeeping system. Census Export - The export functions also you to export census information for new employees or all employees to Mass Mutual. The functionality described in this document has been programmed specifically to work with the file layouts provided by Mass Mutual. Mass Mutual provides clients the choice of quarterly or year-to-date files for import of transactional data. With Mass Mutual you must select before each plan year whether reports are to be generated automatically on a quarterly or annual basis. Clients using the Mass Mutual Allocated Link may access the import file format needed for the import from the Mass Mutual website. Electronic Download files can be downloaded from the Mass Mutual websitehttps://wwwrs.massmutual.com/trc/login.asp. Please follow these steps to obtain your RMAP download file: On the Mass Mutual website in the upper right corner under the login heading please login with your member id and password Once you have logged in you will receive a list of available plans. Select the appropriate plan from the list. After selecting the plan you will be directed to a new web page. At the top of the webpage is a heading menu select Plan Management. Select this option. Next you will be directed to another web page. Click on a hyperlink for the word Receive under a category heading of File Transfer. As noted earlier, Mass Mutual automatically generates the RMAP file for you based on the processing schedule you selected. Select from the file list the most current download file by double-clicking on the file and selecting to Save the file SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

2 I Allocated Link Import 1- Import Mass Mutual Allocated Link File Importing a Mass Mutual download file will allow you to import all of the transactional data capture by Mass Mutual in their recordkeeping system for the date range selected. Importing the transactional data will allow you to maintain participant account balance in Relius to be in agreement with+ Mass Mutual. Importing a Mass Mutual transaction file can be accomplished by following the steps listed below: From the Relius main menu, select Processing>Financial Institution Interface>Allocated Links>Import. Investment Vendor frame: Select Mass Mutual from the Vendor name list. Select the Vendor default group from list box (if applicable). Import file frame: Select the drive letter. Select path for the Mass Mutual transaction import file. A list of available files will display. Click on the file, which will remain highlighted. Dates for imported data Transaction date: type or select from the calendar control The transaction date selected will be the effective date of the transaction and should correspond to the transaction date from the import file. Beginning balance date: type or select from the calendar control. The Beginning balance date should be equal to the Beginning balance date in the import file. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

3 Plan Selection frame: Click on the Select Plan button and a new window will open with the same Select Plan dialog as found in the Relius menu, File>Open>Plan. This dialog allows searching for plans based on Plan Name, Plan ID, Administrator or Employer. The list of plans displayed in the Import Instructions frame will be the same as the list of plans in the Relius menu, File>Open>Plan. The plan list can be filtered so that only those plans that have Mass Mutual designated as a Trade Agent are displayed. This is done by setting up a trade agent Utilities>Trade Agent/Custodian Update and with a reserved name of Mass Mutual. Then adding this trade agent in the Plan Specs > Account Definitions > Trade Agent form. Additionally, at least one investment must be assigned to the Mass Mutual trade agent name. Click on the plan of choice, and then click OK. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

4 The investment system links frame has several options: Plan Defaults, Vendor Defaults, Import, Cancel and Help The selection of Plan or Vendor defaults allows for default selections to be selected for use with one or more plans. See Section 3 Click on Import to begin the import of the selected file for the selected plan. See Section 5 Click Cancel to cancel the selection and exit the Allocated Link program. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

5 2 - Plan/Vendor Defaults Plan Defaults: Note Plan defaults take precedence over vendor defaults. The following fields will be pre-populated: Investment Vendor, Plan, and Plan Year. These fields are also used for STP purposes (STP: Straight Through Processing). Trade agent plan identifier: Enter the plan contract number and it will be saved as the trade agent plan id in Plan Specification. See Account Definitions>Trade Agent Dates for imported data Transaction date: type or select from the calendar control The transaction date selected will be the effective date of the transaction and should correspond to the transaction date from the import file. Processing options Import to one fund: - default is No Create 1099 payee records for imported distributions and loans:- default is selected (implied yes ). Import refunds of excess as distributions- default is selected (implied yes ) Source Mapping/Excluded Transactions This frame contains functionality that allows for mapping of Relius money sources to Mass Mutual money sources. Relius attempts to narrow down the choices of sources available for mapping by presenting only similar sources to those of Mass Mutual. Also in this frame are nine columns to select transactions that could be excluded from the import. Investment System Source: This list contains the sources provided by Mass Mutual. Source Name: This column of list boxes displays the Relius money sources available to be mapped to each source in the Investment System Source column. If no match is available or chosen, select None. Excluded Transactions: Transactions under the following headings may be suppressed from the import: Contributions, Forfeitures, Reallocated Forfeitures, Loan, Distributions, Fee, Transfers, Gain Loss, and Insurance Premium. o o To select one of these transactions, click on the button next in a row that contains a source. A red checkmark will be displayed. If the source is None, the transaction cannot be selected. The selections can now be saved as a default by clicking the Save Defaults button. To close the form, click Cancel. To access the help file, click Help. The Next Plan button will display the next selected and the same steps can be repeated to set up additional Plan Defaults. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

6 Vendor Defaults: The Vendor name will be pre-populated. Processing options Create 1099 payee records for imported distributions and loans:- default is selected (implied yes ). Import refunds of excess as distributions- default is selected (implied yes ) Source Mapping/Excluded Transactions This frame contains functionality that allows the selection of transactions to be excluded from the import. Investment System Source: This list contains the sources provided by Mass Mutual. Excluded Transactions: Transactions under the following headings may be suppressed from the import: Contributions, Forfeitures, Reallocated Forfeitures, Loan, Distributions, Fee, Transfers, Gain Loss, and Insurance Premium. To select one of these transactions, click on the button next in a row that contains a source. A red checkmark will be displayed. The selections can now be saved as a default by clicking the Save Defaults button. The selections can also be used to create a new Vendor Group, by clicking Save As. A Vendor Group can be removed by clicking on Delete. To access the help file, click Help. To close the form, click Cancel. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

7 SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

8 3 - Loans For the Mass Mutual import there are two methods on which you can setup your loan accounts in Plan Specifications The Allocated Link import will handle both methods. Account(s) in Relius are setup in Plan Specs in the Account Definition screen. Loan Source/Loan Fund. In this method you will add the Loan source in the Source tab in Account Definitions. You will also add the Loan fund in the Investment tab. You will create one account using the Loan Source and the Loan Investment. The program will look for this method first. Therefore if the plan contains a loan account that contains the loan source and loan fund, all loan activity will be imported into this account Advantages. The advantage to this method is that the loan balance for the participant is consolidated into one account. All loan activity by different sources will be consolidated. Disadvantages. The vested balance will be zero ($0.00) for the participant loan balance. When the loan source is used, Relius looks to the Loan Module to obtain the vested balance. Since you are using the Mass Mutual interface you will not be setting up the participant loan(s) in the Loan Module in Relius. Loan payments that are imported through an investment download are not reflected in the Loan Module, therefore it is not recommended to setup participant loans when using an investment system download. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

9 Employer and Employee Sources/Loan Fund. In this method you will add the Loan Fund in the Investment tab. The normal employer and employee sources are added to the plan. In this method you will create multiple loan accounts, a loan account with each source plus the Loan Fund. The program will look for this method second. Therefore if the plan contains accounts with the Loan Fund, all loan activity will be imported into these accounts. Advantages. Vesting is obtained directly from the source attached the loan investment. Disadvantages. Multiple accounts are needed. The participant statement will not have one consolidated loan balance SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

10 4 - Import After selecting a plan: (See Step1) Click on Import: This action will activate the processing of the import file. Next, the Investment System Links Plan Information [Import] dialog box will appear. The Trade agent plan identifier number is pre-populated from Plan Specifications. However if this value is blank you will need to enter the plan contract number directly on this screen. Upon saving the Plan Defaults this number will be saved in Plan Specifications. The Transaction date and the Beginning balance date are pre-populated from the prior Investment Systems Links (Participant level) screen but can be edited if necessary. The Beginning balance date should be equal to the Beginning balance date in the import file. Processing Options: Import to one fund: (default) No. o Select a specific cash fund from the dropdown if you want to import source level details. Create 1099R payee records for imported distributions and loans - (default) Checked. Import refunds of excess as distributions - (default) Checked. Source Mapping/Excluded Transactions: This frame contains functionality that allows for mapping of Relius money sources to Mass Mutual money sources. Relius attempts to narrow down the choices of sources available for mapping by presenting only similar sources to those of Mass Mutual. Also in this frame are nine columns to select transactions that could be excluded from the import. Investment System Source: This list contains the sources provided by Mass Mutual. Source Name: This column of list boxes displays the Relius money sources available to be mapped to each source in the Investment System Source column. If no match is available or chosen, select None. Excluded Transactions: Transactions under the following headings may be suppressed from the import: Contributions, Forfeitures, Reallocated Forfeitures, Loan, Distributions, Fee, Transfers, Gain Loss, and Insurance Premium. o o To select one of these transactions, click on the button next in a row that contains a source. A red checkmark will be displayed. If the source is None, the transaction cannot be selected. The selections can now be saved as a default by clicking the Save Defaults button. To close the form, click Cancel. To access the help file, click Help. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

11 After all actions are chosen, click Continue SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

12 This dialog will appear after the import runs. The blue flood bar will appear indicating the percent complete. Click Ok. If any errors are found during the import, the following dialogs will appear. Click Yes to view the error log or No to close this dialog. We recommend always viewing the Error Log. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

13 After the log, another prompt is displayed asking whether to continue the import process or not. If OK is selected, Relius also produces three Crystal reports: Totals by source, Totals by fund and Totals by Transactions. The following dialog will appear: SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

14 Select one, two or all three reports and choose how the reports will be viewed, on the screen, printed or both. Once a selection is made, the OK button will be enabled. Click OK to generate the reports. Click Cancel to exit the dialog. Click Clear All to remove the selections. Samples of the three reports are located at the end of this guide. After a successful import, an Allocated Link type transaction will be created in the Transaction Entry form. This transaction is available for posting. SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

15 SunGard, the SunGard logo, and Relius are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and

16 5 - Sample Reports Totals by Source:

17 Totals by Fund:

18 Totals by Transaction Type:

19 6 - Mass Mutual Import File Layout The RMAP download file will have the following naming convention: #####-1-1-RMAP-YYYYM.MDD Data Data Description #######-1-1 Mass Mutual Contract Number. (followed by a -1-1 to the contract number) RMAP YYYYM.MDD File type Date. The last three fields of the date is the file extension Import File (RMAP) Field Position Field Description Number Length Contract ID (must match Trade Agent Plan id) Social Security Number (no hyphens) Fund ID Source Code (see below) Vesting Indicator (1 = fully vested) Dollar amount (no decimal, implied last two positions is cents) Transaction Type (see below) Transaction Sub-type Transaction Date (format YYYYMMDD) Trade Date (format YYYYMMDD) Fixed file format total length 64 characters Money Source Code - Translation Table Source Description Relius Source Code 1 Employee voluntary EE Post-tax 2 Employee supplemental EE Post-tax 3 Employee mandatory EE Post-tax 4 Employer supplemental Employer 5 Employer match ER Pre-tax Match 6 Rollover Unrelated Rollover (non-roth) 7 Deductible voluntary EE Post-tax 8 Prior plan employer Related Rollover (non-roth) 9 Salary deferral EE Deferral (non-roth) 10 Deferred bonus EE Deferral (non-roth) 11 Qualified match QMAC 12 Qualified non-elective QNEC

20 13 Qualified match extra QMAC 14 Safe harbor match ER Pre-tax Match (ACP Safe Harbor) 15 Safe harbor non-elective Employer (ADP safe harbor) 18 Roth related rollover Related Rollover (designated Roth source) 19 Roth salary deferral EE Deferral (designated Roth source) 20 Roth deferred bonus EE Deferral (designated Roth source) 21 Restricted withdrawal All sources except loan 24 Employer supplemental extra Employer 25 Employer match extra ER Pre-tax Match 26 Roth unrelated rollover Unrelated Rollover (designated Roth source) 29 Salary deferral extra EE Deferral (non-roth) 30 Other taxable All sources except loan 31 Other non-taxable All sources except loan 34 Employer supplemental extra Employer 35 Employer match 2 ER Pre-tax Match 39 Roth salary deferral 1 EE Deferral (designated Roth source) 45 Employer match 3 ER Pre-tax Match 54 Non-qualified basic All sources except loan 55 Non-qualified bonus All sources except loan 58 Non-qualified discretionary All sources except loan 59 Non-qualified deferred All sources except loan 99 Loan Loan (no mapping required) Transaction Code - Translation Table Transaction Code Description Relius Transaction Code BA ER Base Contribution Ba DE EE Deferral (pre-tax) De DH Hardship Distribution Di1 DI Distribution Di FE Fees Fe FO Forfeitures Fo GA Gain Ga LD Loan Distribution Ld LI Loan Interest Li LP Loan Payment Lp MA ER Match Contribution Ma PM Post-tax Match Pm PO EE Post Tax Deferral Po QD QNEC ADP Qd

21 QC QMAC ACP Qc RE EE Receivable De, Po,(depends on source) RO Rollover Ro RR ER Receivable Ba, Ma (depends on source) TR Transfer Tr

22 II MASS MUTUAL CONTRIBUTION EXPORT 1 Exporting Contributions Exporting a Mass Mutual contribution export file will allow you quickly provide Mass Mutual the contributions, forfeitures or and loan repayments for a period. Exporting a Mass Mutual contribution file can be accomplished by following the steps listed below: From the Relius main menu, select Processing>Financial Institution Interface>Allocated Links>Export. Investment Vendor frame: Select Mass Mutual Export from the Vendor name list. Export file frame: Select the drive letter. Select directory path for the Mass Mutual export file. Plan Selection frame:

23 Click on the Select Plan button and a new window will open with the same Select Plan dialog as found in the Relius menu, File>Open>Plan. This dialog allows searching for plans based on Plan Name, Plan ID, Administrator or Employer. The list of plans displayed in the Import Instructions frame will be the same as the list of plans in the Relius menu, File>Open>Plan. The plan list can be filtered so that only those plans that have Mass Mutual designated as a Trade Agent are displayed. This is done by setting up a trade agent Utilities>Trade Agent/Custodian Update and with a reserved name of Mass Mutual. Then adding this trade agent in the Plan Specs > Account Definitions > Trade Agent form. Additionally, at least one investment must be assigned to the Mass Mutual trade agent name. Click on the plan of choice, and then click OK.. Click on the Remove button to change plans

24 Type of export Select from the dropdown list Contribution, forfeiture and loan repayment export.. Date Period Enter the export period begin and end date in the boxes provided. Export Select this option after selecting the plan and the date range Selecting this option will cause a source mapping screen to pop up. You have the option of modifying the source mapping. The first column is the list of Relius source and the second column is the mapped Mass Mutual source. You have the ability to modify the source mapping if incorrect. Note - A Relius source can only be mapped once to a Mass Mutual source. If there are duplicate source mappings, a error message will be displayed and not allow the export to continue Click on Continue to start the creation of the export file.

25 Upon completion the following pop screen will appear Click Yes to display an error log file. Click No to not display the error log file. Below is an example of an error log file

26 Cancel Select this option to cancel the export process. This exits you from the contribution export screen. Help Select this option to bring up Help on the Allocated Link export program..

27 2 Mass Mutual Contribution File Format The contribution export file created in Step 1 above will have the following naming convention: COO#####_MMDDYYYY_HHMMSS_XXX.TXT Data Data Description CO0 Fixed value, identifies the file as a contribution file. 0###### Mass Mutual Contract Number.(leading 0) MMDDYYYY HHMMSS XXX Date Stamp in the format: mmddyyyy Time Stamp in the format: hhmmss File version number The contribution export file format is as follows: Export File Header Record Field Number Position Description Exported Value Mass Mutual identifier Hard-coded value NF Contract Number 00000##### (##### is the Mass Mutual contract number) Effective date Format MMDDYY Internal Use Field Hardcoded value Plan Number Hardcoded value Subscription Number Hardcoded value 001 Export File Contribution/Forfeiture Detail Record Field Position Description Exported Value Number Record type Hard-coded value CON or FOR Social Security Number SSNUM (leading zeros added, no hyphens) Source Code ###, (see source mapping translation table under allocated link import) Amount of Contribution ######## (leading zeros added, last two positions assumed to be cents)

28 Columns 3 and 4 repeat for each additional source Export File Loan Repayment Detail Record Field Position Description Exported Value Number Record type Hard-coded value LOP Social Security Number SSNUM (leading zeros added, no hyphens) Blanks Three spaces (blanks) Amount of Loan Repayment ######## (leading zeros added, last two positions assumed to be cents) NOTE: The loan repayment amount is pulled from the participants User Defined Field Numeric #1

29 III MASS MUTUAL CENSUS EXPORT 1 Exporting Census Creating a Mass Mutual census export file will allow you quickly provide Mass Mutual census information for new participants or existing participants. Exporting a Mass Mutual contribution file can be accomplished by following the steps listed below: From the Relius main menu, select Processing>Financial Institution Interface>Allocated Links>Export. Investment Vendor frame: Select Mass Mutual Export from the Vendor name list. Export file frame: Select the drive letter. Select directory path for the Mass Mutual export file. Plan Selection frame:

30 Click on the Select Plan button and a new window will open with the same Select Plan dialog as found in the Relius menu, File>Open>Plan. This dialog allows searching for plans based on Plan Name, Plan ID, Administrator or Employer. The list of plans displayed in the Import Instructions frame will be the same as the list of plans in the Relius menu, File>Open>Plan. The plan list can be filtered so that only those plans that have Mass Mutual designated as a Trade Agent are displayed. This is done by setting up a trade agent Utilities>Trade Agent/Custodian Update and with a reserved name of Mass Mutual. Then adding this trade agent in the Plan Specs > Account Definitions > Trade Agent form. Additionally, at least one investment must be assigned to the Mass Mutual trade agent name. Click on the plan of choice, and then click OK.. Click on the Remove button to change plans

31 Type of export Select from the dropdown list (choice one of the two choices) Date Period Enrollment export of new employees Enrollment export of all employees Enter the export period begin and end date in the boxes provided. Export Select this option after selecting the plan and the date range Selecting this option will cause an export to pop up. You have the option of modifying the date range. Click on Continue to start the creation of the export file.

32 Upon completion the following pop screen will appear Click Yes to display an error log file. Click No to not display the error log file. Below is an example of an error log file

33 Cancel Select this option to cancel the export process. This exits you from the contribution export screen. Help Select this option to bring up Help on the Allocated Link export program..

34 2 Mass Mutual Census File Format The census export file created in Step 1 above will have the following naming convention: ENO#####_MMDDYYYY_HHMMSS_XXX.TXT Data Data Description EN0 Fixed value, identifies the file as a contribution file. 0###### Mass Mutual Contract Number.(leading 0) MMDDYYYY HHMMSS XXX Date Stamp in the format: mmddyyyy Time Stamp in the format: hhmmss File version number The cenus export file format is as follows: Export File Header Record Field Number Position Description Exported Value Mass Mutual identifier Hard-coded value NF Contract Number 00000##### (##### is the Mass Mutual contract number) Effective date Format MMDDYY Internal Use Field Hardcoded value Plan Number Hardcoded value Subscription Number Hardcoded value 001 Export File Census Detail Record Field Position Description Exported Value Number Record type Hard-coded value PT Social Security Number SSNUM (leading zeros added, no hyphens) Employee ID Employee ID Last Name Last Name Middle Name Middle Initial First Name First Name Suffix Skipped field

35 Birth Date Birth Date (format MM/DD/YYYY) Hire Date Date of Hire (format MM/DD/YYYY) Participant Date Plan Entry Date (format MM/DD/YYYY) Subset Sequence Hard-coded value Filler Skipped field Address Line 1 Address Line Address Line 2 Address Line Address Line 3 Skipped field City City State Code State Zip Code Postal Code Gender Code MA (male) FE (Female) Marital Status UN (unknown) MA (married) NM (not married) Years of Service Years of Participation Payroll Frequency Code Pay Frequency Code 01= Annual 12=Monthly 02=Semi-annual 24=Semi-monthly 26=Bi-weekly 04=Quarterly 52=Weekly