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January begins annual testing for 401(k) plans to ensure that they are compliant with important Internal Revenue Code requirements. The ABA Retirement Funds Program (“Program”) offers compliance testing and contribution calculation services to clients at no additional cost. If you are interested in having testing performed on your plan by the Program, please review the following information:

What do I need to do next?

Detailed instructions will be sent to you in an email on or about January 10, 2025 (from abaretirement@phmurphyandcompany.com), or in a letter if we do not have your email address on file.1 If you request a nondiscrimination test and/or a contribution calculation, please make sure to:

  • Respond to the email2 or submit the 401(k) Nondiscrimination Testing and Contribution Calculation Request Form.
  • After receiving your request form, the Program will send you a secure email that includes a pre-populated Employee and Contribution Census (“Census”) spreadsheet from the recordkeeping system. Review, correct, and complete the Census information according to the instructions provided (be sure to include participants’ termination or rehire status, information on newly eligible employees, and the prior year’s compensation).
  • Return the Census by February 12, 2025. If you have made a “Top Paid Group” election in your adoption agreement, complete the Top Paid Group Worksheet included in the email as well.
    • The compliance team will notify you of the results via encrypted email within 15 business days of receipt of your request in good order and will identify any corrective measures your plan may need to take. Materials received in good order after February 12, 2025, will be completed within 20 business days after receipt.

Compliance testing is complicated. If you are not sure whether you need to participate, please call 800.752.6313. Representatives are available to answer questions and assist you in completing the Census.

For more information on compliance testing, please visit the online Plan Administrator Guide at abaretirement.com/ePAG and see the section called Compliance and Communications.

1 Consider adding an email address to your plan records to receive Program communications more quickly. You can do this by emailing contactus@abaretirement.com. Be sure to include your 6-digit plan number.
2 The email solicitation campaign is open from about January 8 – 14, 2025. If you are working with your accountant on an extension after that time it may be helpful to click “yes” in the solicitation email to receive the Census during the campaign period. Be sure to open the Census email and save the Census to your home drive for later use as there is a time limit on the secure emails used to send the Census. You can also request a Census after the campaign period by emailing compliance.testing@voyaplans.com and specifying your 6-digit plan number and the plan year for which you would like the Census.

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Help is available for annual compliance testing