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Use this procedure to update eligibility entered in the Setup > Plans > Participant Eligibility Rules option.
See Also: How to Set Up Participant Eligibility Rules
To update eligibility, do the following:
1. Access the Update Eligibility screen. On the Setup menu, point to Participant and then click Update Eligibility. The Participation Eligibility Update screen displays.
2. Select the Location from the list. Leave blank to update all locations.
3. Select the Eligibility Type to Update from the list. Leave blank to update all Eligibility Types.
4. Specify the Effective Date. TSM SmartClient will update all Eligibility Dates as of this date. For example: If you wish to determine eligibility status of Plan participants for the 2006 (calendar year) Plan year (i.e. for non-discrimination testing), you would enter an Effective Date of 12/31/2006.
5. If you want TSM SmartClient to recalculate any existing eligibility date, select the Recalculate Existing Eligibility Date check box.
6. If you want TSM SmartClient to populate the estimated eligibility/allocation dates on the Setup > Participants > Participant Plan Other Information - Eligibility tab, select the Populate Estimated Dates Update check box. Estimated eligibility/allocation dates are the estimated future dates in which the participant will become eligible. For example: If a participant's Eligibility Date is calculated to be a date after the specified Effective Date, TSM SmartClient will populate the Eligibility Date field with this estimated date.
7. Select any or all of the following reports:
· Non-Eligible Participants Report
· Eligible Participants Report. If you select this report, and if the Eligibility Type to Update is Forfeiture, Match Contribution, or Profit Sharing, the Group by Allocatable check box will become available.
For either Participant Report, specify the Sort Order.
· Permissive Disaggregation Report
· Error Report
8. Select the Update Databases check box to update the database with the calculated Eligibility Date, Enrollment Date, Allocation Date, and/or Eligible flags, as applicable.
9. When you are done, click Process All to process the eligibility update.
1. Access the Participant Plan Other Information option. On the Setup menu, point to Participants, and then click Participant Plan Other Information. The Participant Plan Other Information window displays.
2. Click the Eligibility tab . Here you will see the updated Plan Participation, Safe Harbor, After Tax, Profit Sharing, Forfeiture and Match Eligibility Dates, if applicable, as well as Eligibility flags, and Allocation Dates for Match, Profit Sharing, and Forfeiture, if applicable.
3. Click the Dates tab . Here you will see the Enrollment Date, which determines the Plan Participation Eligible flag. Note: Once a participant is flagged as Plan Participation Eligible and After Tax Eligible, he will remain flagged even, if his employment is terminated.