What is a census for a 401(k) or other type of qualified defined contribution plan?
A census is a report prepared by a plan sponsor that provides the data that the plan’s third party administrator (TPA) or internal plan administrator needs to perform required testing to ensure that the plan is in compliance with Department of Labor laws and Internal Revenue Codes. The report includes the following data for each employee in the company that is eligible to participate in the company’s defined contribution employee retirement plan: name, gender, birth date, hire date, hours worked, date of termination, social security number, annual salary, employee contribution, and the company’s matching contribution.
