The annual plan census is an important part of your role as plan administrator. The census materials help Voya Financial, the Program’s recordkeeper, gather information about your plan and participants it needs to take certain actions to assist you with complying with plan compliance. You may request testing for:
For more information please refer to the ”Compliance and Communications” section of the electronic Plan Administrator Guide (“ePAG”).
To keep your information up to date, just respond to the solicitation email our compliance team sent you in the second week of January. When you respond a secure email will be sent to you that includes the pre-populated census spreadsheet from the recordkeeping system. If you have not previously provided the ABA Retirement Funds Program (“Program”) with a participant’s termination or rehire date, use the census to do so. Even if you don’t need our compliance services, it’s helpful to return the census to us not only for demographic updates, but also to provide us with the prior year’s compensation.1 Providing this information helps ensure that your plan’s records are accurate and complete. This service is available to you for no additional charge.
Detailed instructions will be provided to you, but if you are requesting a nondiscrimination test and/or a contribution calculation, please make sure to:
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- Reply to our solicitation email sent in the second week of January or, if we do not have an email address on file for you, call our Plan Administrator Line at 800.752.6313 and request a census to be sent to you.2
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- Check, correct and complete the census after receiving it from the Program. If you have not previously provided the Program with a participant’s termination or rehire date, or information regarding newly eligible employees, use the census to do so.
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- Complete and return the 401(k) Discrimination Testing and Contribution Calculation Request Form. Keep in mind that testing and/or calculations cannot take place until you reply to our email requesting our services or complete and return the 401(k) Discrimination Testing and Contribution Calculation Request Form to the Program.
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- Complete and return the Top-Paid Group Worksheet if your firm’s plan made that election in its adoption agreement.
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The Program generally turns around contribution calculations, nondiscrimination and top heavy testing within 15 to 20 business days upon receipt of your data in good order.
For more information on compliance testing, please visit our online Plan Administrator Guide at abaretirement.com/ePAG and see the section entitled “Compliance and Communications.”
1 This data remains confidential and will be only used to more effectively communicate with your participants.
2 Consider adding an email address to your plan records to receive Program communications more quickly.
