At the end of the year when does the Plan Administrator need to enter Profit Sharing and Employer Matching and how is that process done?
There is an Annual Payroll with a pay date of 12/31 in contribution processing and that is where you would enter your employer match and profit-sharing. We send out correspondence around the first week of January regarding year-end (update census, post any employer match and profit sharing, etc.). If you are going to have a match or profit sharing, it needs to be entered by the last week of January since this is included in your compliance testing which has a deadline of March 15.
