Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

I am trying to process year-end payroll and the year-end match. Am I supposed to calculate the match for employees or does ExpertPlan do that?

April 26, 2017CALCULATE employees expertplan payroll process year-end

0

0 Posted

I am trying to process year-end payroll and the year-end match. Am I supposed to calculate the match for employees or does ExpertPlan do that?

1 Answer

0

0 Posted

ExpertPlan calculates your year-end match. If you go into your 12/31 Annual Employer payroll, the year-end match allocation for that year will be pre-filled based on your match formula of deferrals. Top of Page One of my participants withdrew her contribution and I am unclear what is supposed to happen now. Since your employee took a hardship distribution, you need to change that person’s status in census to ‘S’uspended. You need to keep his/her in this status for 1 year since participant’s who take hardship withdraws are not allowed to make salary deferrals for 1 year. When 1 year is up, change the status back to ‘A’ctive so they can resume contributing. Once you change the status to suspended, you will notice that the employee deferral amount will be pre-filled with a zero.