What in Carnation
What are the deminimus amounts for both ER and EE we can adjust through gain/loss without manager approval.
ER = $25 EE = $1
What is the official company font?
Arial 11pt
How can you tell if a trust accounting imbalance is caused by a transposed number?
If the out‑of‑balance amount is divisible by 9.
Solo plans may show FBO on the statement, but for TA purposes they are treated as this?
What is pooled
What is the current minimum complexity score to send to QC and where in the trust template do you put this.
what is #4 and the Blue Section of the notes tab
What are the three Ascensus Core Values:
Which file should you use as your working file for Lincoln plans?
The Excel version of the Plan Admin (Trust Import) report.
What should you do if a required Vendor report is missing?
Email the Asset Download Team using the approved template.
Give an example of 5 items that would go into the Earnings column on the per acct.
What is the required process if a plan has an amended prior‑year Form 5500 that has not yet been filed?
NIGO the current Trust Accounting case back to the Consultant with a pulse note stating that the amended 5500 must be filed before current‑year trust work can be finalized.
When forfeitures are held in the pooled trust account (rather than a separate forfeiture account), how should the forfeiture balance be handled on the plan totals and financial reports?
Answer - As one line item we do not separate out the forfeiture balance unless it has it’s own account.
How does Principal indicate a loan is deemed?
They list deemed loans as defaulted.
When an audited vendor plan has an entry in any cell labeled “other” on the Allocated Recon tab, what must you do with this transaction.
It must be manually link to the plan totals tab.
What is the primary difference between a Fee Reimbursement and a Refund of Fees Paid?
Fee Reimbursement is fees paid by the plan – Refund is when the corp pays the fees
When is a Hold Harmless Letter required for a terminated plan?
A Hold Harmless Letter is required once it has been verified with the client that prior‑year accrued contributions will not be funded after a plan has terminated and assets have already been distributed.
Master Flow Through – when prior year transfer due deposits are made to the SDBA accounts in the current year are these added to total deposits to be allocated on the contribution recon tab and explain why?
No – because we already gave the participant credit for these amounts in the prior year.
List the three types of Information Security simulated social engineering test that Futureplan Security Risk department is now implementing:
Phishing (email)
Vishing (voicemail)
Smishing (SMS) - texting
When working with Principal Vendor Reports – How do you determine the source type and split by source for contributions.
Answer – what is Excel Import File and Vendor Resource Guide for source type codes. (Page two) – Process & Procedure Folder
What are the 5 Steps when a plan has fee reimbursements. – PerAcct Tab – Plan Totals Tab – Financial Report Tab and 5500 Tab.
What are six things need to be manually linked from the Mutual Fund Tab and where do you link them? Must have all six.