Data Validation Center. (DVC) Processing User Guide.

Transcription

1 Data Validation Center (DVC) Processing User Guide.

2 Introduction The Data Validation Center (DVC) permits contribution files to be uploaded directly into our database, thereby providing a more secure and efficient method for submitting your contributions to Alliance Benefit Group. The DVC and its accompanying services are available at no additional charge to you. 1

3 Advantages The DVC offers a number of advantages including: 1. Safety and Security a) As the concern for safely transmitting data increases, DVC processing allows you to upload your data directly into our database; thus, eliminating the need to send confidential information via or through the postal service. b) For your protection, we employ powerful 128-bit encryption technology and Secure Socket Layers (SSL) in all areas where personal identification is required. Your account information is kept behind our firewall on separate servers and all transaction information is processed under encrypted channels. 2) Timeliness of Deposits a) The Department of Labor (DOL) is aggressively focusing on how quickly the assets are invested into the participant s 401(k) investment allocations. The DOL has increased their focus on auditing employers regarding the frequency of deposits and threatening potential plan disqualification for non-compliance. b) The DVC procedures will allow you to meet the DOL requirements for the investment of your 401(k) contributions. 3) Plan Costs a) DVC will help keep plan costs down for the plan sponsor. 4) Updated Participant Information a) Employee census data is collected and updated in our system on a per payroll basis. b) We will send you a summary of the data compiled during the plan year at year end for your review and approval before final testing is performed. c) Accurate and up to date census, compensation, and contribution amounts will allow Alliance Benefit Group to provide preliminary testing. d) All employees are requested to be included in the file so Alliance Benefit Group will have the information to generate a Newly Eligible Employees listing before every entry date. e) Hours of service given each pay period will update the vested balance shown on the participant website and participant statements. f) The Status Code and Status Date information will allow Alliance Benefit Group to send out distribution paperwork to terminated participants. g) Address information will be updated with every contribution file making the mailing of confirmations and statements more accurate and timely. 2

4 Format of Data Below is a listing of items that are required when sending data through DVC. As the sponsor of a 401(k) plan, you have a fiduciary obligation to ensure the format and contents of your report are accurate. If you outsource your payroll and do not have the flexibility to change the format of your data, we have provided you with a sample letter to send to your payroll company if you prefer to have them create a custom report for you. Any adjustments to a prior payroll should be made in the current period or an should be sent to Alliance Benefit Group notifying them of the adjustment so it can be made in our system. This will ensure accurate year to date information for testing purposes. Specifications of file: 1) File can be saved as a comma separated value (.csv), excel (.xls), Microsoft Excel 2007 (xlsx) file formats, and files generated via a UNIX platform. 2) Each line must contain only one record/field for each employee. 3) All employees with compensation must be included, even if they are not contributing or are recently hired. You do not need to include a specific group of employees if your plan excludes them (such as Union Employees). 4) No column headings. 5) No totals. 6) No dashes (-) in zip code. 7) No empty spaces ( ). 8) No dollar signs. 9) Two digits after the decimal. 10) No commas to separate thousands. 11) No negative numbers. 12) MM/DD/YYYY format (4-digit years are necessary, include slashes(/)). 13) Any column with numerical data needs to be formatted as a number. 3

5 21 Columns Read Left to Right: If column information is not applicable to your plan, please insert a blank column as 21 columns are required. 1) Social Security Number a) Leading zeros (0) will be added 2) Last Name a) No comma between the last name and suffix, include a blank space ( ). Incorrect example: Howell, III. Correct example: Howell III. 3) First Name 4) Street Address 1 5) Street Address 2 6) City The address in your file will override the address in our system. Please make sure to enter the correct address in your payroll system before you run your file. Please use No. instead of the # sign. 7) State a) Two-letter abbreviation 8) Zip a) No dashes 9) Employee Number (if applicable) 10) Company Location or Division Code (if applicable) 11) Date of Birth a) Correct format 01/01/2004 b) The system will not allow you to import your file without this date. c) Date of Birth in payroll file will NOT overwrite date in our system if different. 12) Date of Hire a) The participant s original date of hire. b) Correct format 01/01/2004. c) The system will not allow you to import your file without this date. d) Date of Hire in payroll file will NOT overwrite date in our system if different. 13) Status Code Y = Rehire D = Deceased P = Disabled R = Retirement T = Termination L = Leave of absence Rehire dates need to be entered under status code as a Y and status sub code R along with the status date. See next page. 4

6 14) Status Sub Codes R = Rehire N = Normal retirement E = Early retirement P = Postponed retirement A = Approved paid leave of absence U = Approved unpaid leave of absence F = Family Medical Leave Act M = Military leave of absence a) If a status date is entered, a status code and sub code if applicable must also be entered. The system will not allow you to import your file without this information. 15) Status Date a) If a status code is entered, a status date must also be entered. The system will not allow you to import your file without this information. b) If status code is T then this date would represent the participant s date of termination. c) Correct format 01/01/2004. d) Status Date in payroll file will NOT overwrite date in our system 16) Plan wages for current period. a) Employees with zero compensation and a status code will not be brought into the system. Please delete the entire row of anyone with a status code and status date but no compensation. 17) Employee Pre-Tax Contributions for current period including Catch-Up Conts. a) No negative contributions. Contact ABG if an adjustment needs to be made. 18) Employer Matching Contributions for current period. 19) Loan payments for current period. 20) Other plan contributions made on an ongoing basis for the current period. a) Example would be Employer Base contributions in addition to Matching Contributions or any after-tax contributions including Roth 401(k) contributions. 21) Hours of service for the current period. a) Only salaried employees should have an estimate of hours worked. b) This column must be populated for file to import. Participant allocation changes should be made through the Web or VRU to guarantee the changes are effective before the payroll is run in through DVC. Allocation changes received by fax or mail will be entered into our system within 5 business days of receipt. 5

7 Data Submission Payroll files will be submitted to Alliance Benefit Group through the Plan Sponsor website at Below are step-by-step procedures to assist you with your payroll submission. 1) Enter the User ID and Password provided by ABG and click Sponsor. If you do not have access codes, please contact your Alliance Benefit Group Account Manager. 2) Pick your plan s 401(k) name if your plan has multiple plans with Alliance Benefit Group. 6

8 3) Along the right side of your screen you will see several links. Click on Data Validation Center. 4) Under Process Selection: Payroll should be selected 5) Select the payroll method that you are processing with and click Next in the lower, right corner. 7

9 6) Select the pay period that you would like to work with and select the "Next" button to move to the next step in the process. If you wish to view the detail totals for payroll periods previously entered, click on the right arrow to expand the selected rows details. If you click on the instructions the following will appear. 8

10 In addition, if you wish to delete data for a payroll period previously entered you can do so by highlighting the data row or multiple rows and selecting the "Delete Selected Rows button. Example below: 7) Select the Process Format you have been instructed to use for the file upload. The 'View Data Format' button allows you to view the layout that the data must conform to in order to be successfully uploaded. Select the 'Select File' option to locate the file to be uploaded. Please note, if the file being uploaded does not meet the required format the file must be corrected in order to continue. Choose all options that fit the criteria of the file being created under the selected file. 9

11 8) Please include any special instruction in the special instructions box. Click next and the following screen will appear. Do not hit the back button. 8.) Once File uploads a box will appear if you choose to preview your file like the below: Click ok. 10

12 9.) During the Edit Data portion of the process you will be able to manually edit the data that is being imported as well as confirm data accuracy. In addition, any warnings or errors are viewable during this step by using the status filter. You may also add and save new data during this step. Click Next at bottom when complete. 10.) Verify the information in the Totals/Funding step is accurate. If appropriate, input funding/deposit information. It may be necessary to process and upload multiple files at the same time. If that is applicable, you will check the process another file box. When you are ready to continue click submit button for final processing. 11

13 11.) The file import confirmation screen will summarize the final file characteristics for your records. If appropriate, you may print the file import confirmation as well. 12.) Make sure to click Exit Data Validation Center. Once you are taken back to your account summary page the file will transmit to Alliance Benefit Group. Any questions please contact your dedicated account manager team for assistance. 12