Maintaining List Values (Desktop)

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This article goes through the process of creating list values in PensionPro. List values are highly important because these values allow the user to customize certain fields to fit the company’s needs. Keep in mind that many of the List Values in the system need to be set up prior to importing data in order for the import to complete. If specific List Values are not created and marked as active, the system will have nothing to match the imported data to. Note that tabs and fields will depend on what tier the user is on.

Tier Availability: Track, Team, Core, Essential, Premium, Business

Add-On Availability: SalesPitch

Security Rights Required: Maintenance

 

Menu:

 

Create/Edit List Values

  1. From the Application Menu, click Maintenance > List Values.
  2. Users are directed to the Core List Values. Other List Value Types can be chosen from the drop-down such as Template, SalesPitch, or Distributions by choosing the correct tab.
  3. The left-hand side of the screen lists various tabs for each list value subject.
  4. Choose the tab that corresponds with the list values to be added or edited. A description of the tabs and their corresponding List values is included below.
  5. Select a List Type to edit by making a selection from the List Type dropdown menu.
  6. To add a list value, select the Add button on the right-hand side of the grid. Users can edit a list value by clicking once on the value to select it, and then click the Edit button to update an existing record.
  7. Enter a Display Name and Description of the list value.
  8. Check the Active Checkbox to make the list value active.
  9. Click Save at the bottom of the screen.

Note: List values cannot be deleted but they can be made inactive so they do not appear as an answer in the drop-downs. If a list value should be inactive, click the edit button and un-check the active box.

Both active and inactive values will display on the List Values grid. Active values are noted with a Yes under the active column in the window and inactive values are noted as No.

List Values have a maximum character limit of 50 characters.

 

Core Tab

General 

  • Address Type: PensionPro has the ability to save as many types of addresses as the firm would like to store. Field examples include Main Address, Physical Address, Shipping Address, and for some firms, Vacation address.
  • Billing Time Code: Billing codes should be set up to match the actual codes in your billing system. Billing Codes will be associated with Time Codes allowing the userto identify billable items from time that may be included in your standard fees. This value is not included in the Track tier.
  • Document Specification Status: This list value creates the drop-down list that will reflect the status of your document specifications across Plans. This value is not included in the Track tier.
  • Note Category: This list value was created to help organize the many notes that may apply to a client, plan, or contact. Such as Billing or Meeting Notes could be a possible note category.
  • Number Type: List the types of phone numbers that would normally be stored for client or contact. Examples include Cell Phone, Main Number or Toll-Free.
  • Status: This list value creates the drop-down list that will reflect the status of the service relationship with Plan Sponsors. The status of "Terminated" cannot be edited. Examples include Active, Terminating, New Client, or Onboarding.
  • To-Do Status: This list value is user defined and tracks the status of a To-Do. Examples include New, In Process, Deferred, Completed. This value is not included in the Track tier.

Client\Employer

  • Client Category: There are a wide variety of uses for the client category. Many firms use the client category to identify high revenue relationships, to identify clients from a certain acquisition or to assign a certain service level (A, B, C, D). Examples include Client Level 1, Client Level 2, Gold, Silver, or Bronze.
  • Entity Type: The drop-down created by this list value is used to identify the Plan Sponsor’s entity type when entering a new client and will also be verified by the Plan Sponsor each year through the automated Year End Data Collection routine on PlanSponsorLink.com. Examples include Corporation, Government, LLC, S-Corporation, or Non-Profit.
  • Family Relationship: The drop-down created by this list value is used to indicate any family relationships of owners and officers. Some TPA’s include every relationship even those that do not affect family aggregation like, brother or cousin. Others, narrow the list to only those that would affect the aggregation rules. This value is not included in the Track tier.
  • Officer Title: The drop-down created by this list value will be used by your staff members and the Plan Sponsor when indicating the officers of the firm in the Year End Data Collection on PlanSponsorLink.com. This value is not included in the Track tier.
  • Payroll Frequency: This list value was created to designate the client's payroll frequency. Examples may include "Biweekly", "Monthly", "Semimonthly", and "Weekly." This value is not included in the Track tier.

Contact

  • Contact Category: List Value creates a list of categories for ease of Blast Email and other communication. Examples are Top Producers, Regions, or Referral Types.
  • Contact Grouping: List Value creates a list of groupings for ease of Blast Email and other communication. Examples are Investment Advisors, Brokers, and Attorneys.
  • Contact Preference: List Value creates a list of preferences for communications. Examples are Cell Phone, Email, Fax”, or Phone.
  • Contact Profession: This list value creates a dropdown list of Professions that is to be associated with Contacts. Examples include CPA, Accountant, Attorney or Controller.
  • Contact Source: List Value creates a list of initial connections types with this contact. Examples include Referral, Conference, or Direct Inquiry.
  • Contact Status: List Value creates a status for the contact record. System defaults are Active and Inactive.
  • Prefix: The list value creates a drop-down for the various prefixes used when communicating with Plan Sponsors or other contacts. Examples might be Dr., Ms., Reverend, Mr. or Mrs.
  • Suffix: The list value creates a drop-down for the various suffixes used when communicating with Plan Sponsors or other contacts. Examples might be Jr., Sr., M.D., ESQ or Ph.D.

File Types

Not included in Track Tier

  • Administrative Form Type: A list of administrative file types to be associated to files when loaded to PensionPro on the Plan Details > Files > Administrative Forms screen. Examples include Beneficiary Form, Salary Reduction Agreement, Loan Application, etc. This will be the titling of the file when loaded to PlanSponsorLink.com. This list value also has a description that can be entered to further define the file.
  • Distribution: A list of distribution file types to be associated with files when loaded to PensionPro on the Distribution Files tab of a Distribution Project. Examples include Distribution Form, Loan Request, Loan Amortization Schedule, etc. This will be the titling of the file when loaded to PlanSponsorLink.com. This list value also has a description that can be entered to further define the file.
  • Document Collection: A list of multiple collection document types to be associated with files when loaded to PensionPro. Examples include Signature Page, Trust Statements, New Client Forms, etc. This will be the titling of the document when loaded to PlanSponsorLink.com. This list value also has a description that can be entered to further define the document.
  • Fiduciary: A list of fiduciary file types to be associated with files when loaded to PensionPro on the Plan Details > Files > Fiduciary Files screen. Examples include Investment Policy Statement, Fund Performance Reports, Asset Review, etc. This will be the titling of the file when loaded to PlanSponsorLink.com. This list value also has a description that can be entered to further define the file.
  • Plan File: A list of legal plan file types to be associated with files when loaded to PensionPro on the Plan Details > Files > Legal Plan Files screen. Examples include Adoption Agreement, Master Plan File, Summary Plan Description, etc. This will be the titling of the file when loaded to PlanSponsorLink.com. This list value also has a description that can be entered to further define the file.
  • Project: A list of project file types to be associated with files when loaded to PensionPro on the Project Files tab of a Project. Examples include Annual List Valuation, Form 5500, Safe Harbor, etc. This will be the titling of the file when loaded to PlanSponsorLink.com. This list value also has a description that can be entered to further define the file. Note: if "Allow for PSL Upload" is not checked, the Project File Type cannot be selected by Plan Sponsors when uploading project files on PlanSponsorLink.

 

Investment

  • 1099 Responsibility: This list value identifies the responsible party for preparation of the Form 1099-R on distributions. Examples include Internal, Vendor, or N/A.
  • Data Collection Source: This list value will be used under the Investment tab on the Plan Level. The purpose is to identify the various ways that investment information or trust accounting information is received in the office. Examples include Automatic Monthly/Quarterly Statements, From Client, and Automatically received from Platform Provider.
  • Distribution Processor: This list value defines which party is responsible for the process of distributions from the plan. Examples include Provider, In-House, or Unknown.
  • Fee Disclosure Type: This list value defines the type of fee disclosure that will be required for the plan. Examples are 408(b)(2), 404(a)(5), none, etc. Identify up to four disclosures.
  • Investment Direction: In anticipation of adding investment information to PensionPro, this list value would include the different “types” of investment direction that might be applicable to plans. Examples include Participant Directed, or Trustee Directed.
  • Investment Model: In anticipation of adding investment information to PensionPro, this list value would include the different “models” of plan investments that might be applicable to plans. Examples include Vendor Platform, Pooled Accounts or Daily Recordkeeping.
  • Investment Provider: In anticipation of adding investment information to PensionPro, this list value would include the different investment providers that might be applicable to plans. Examples include John Hancock or TransAmerica. It could also include individual investment names in a balance forward balance sheet like Plan Checking Account or Smith Barney. For In-House Recordkeeping plans, users have the option of loading the individual funds by name or simply add In-House Recordkeeping.
  • Revenue Sharing Type: This list value defines the revenue sharing arrangement for this plan. Examples include 12(b)(1), Sub TA, Shareholder Servicing, etc.
  • Transfer Status: This list value defines the status of asset transfers in the plan. Examples include Current, New, or N/A.
  • Vesting Submission: This list value identifies whether the TPA provides vesting information to the investment provider. Examples include Provided by Client, Uploaded by TPA, N/A.

Plan

  • Claim Processing Location: This list value is used to identify the location of where claim processing is done. It is user defined. Examples are physical locations or divisions.
  • Client Servicing Level: This list value is for service level established based on agreements with the client or internal standards. Examples include Tier 1, Tier 2, Gold, Silver, or Bronze.
  • Combo Plan: This list value describes if the 401(k) plan is combined with a Defined Benefit. Users will want to have options that state Yes and No, but users might also add “Yes, the other plan is administered by a different TPA” if this data is important to them.
  • Employee Plan Role: Employee Plan Roles are used to direct the employee's assignment to a particular plan. Examples include Administrator, DB Analyst, Technical Reviewer, Loan Processor, Administrative Support, and Billing Specialist. Under the Plan Details Level/Roles tab, users will assign the employee who fills that role for that particular plan.
  • Filing Cycle: This list value creates a dropdown list to indicate the cycle for document submission for individually designed plans. Examples include Annual or Quarterly, Users may want to only have the option of N/A. Other suggested options are defaulted in the system and reflect the current rules around such filings.
  • Form 5500 Type: This list value was created to help identify the 5500 filing type associated with a given plan. Examples include Large Plan Filer, 5500 SF, 5500 EZ, Owner Only<$250,000, and N/A. 
  • IRA Rollover Provider: This list value is for list of IRA Rollover Providers that can be selected by the plan for cash-out purposes. Examples might include Millennium Trust, or PenChecks. 
  • Milestone Status: This list value is used to indicate the status of the Milestones in Plan Cycles. Examples include Active, On Hold, Waiting, or Needs More Information.
  • Participant Statement Delivery: This list value is for the statement delivery method for participants. List Value allows for defining two types. Examples include Mailed to Plan Sponsor, Mailed to Home Address, or E-Statement. 
  • Payroll Contribution Calculation: This list value represents the defining payroll contribution types needing a calculation. Examples include Safe Harbor Match, SH match plus discretionary match, SH nonelective, etc.
  • Payroll Frequency: This list value is for defining the Payroll Frequencies for a plan (Allow for 8 Cycles Identifiers) Examples are: Bi-weekly, Bi-weekly, Semi-Monthly, Semi-Monthly, Monthly, Weekly, or N\A.
  • PBGC: Options for the filing status for plan types that may be subject to the filing requirements of the PBGC.
  • Plan Administration Type: This list value is meant to categorize plans by the services that are provided. Examples include Full Administration, Document Only, or 125 Administration. Currently, the Administrative dropdown list is not a multi-select menu, but a choice of one. So, if the TPA provides “Full Administration Services” for a plan and also “Tax Withholding Services” the user could create a list value such as "Full Administration and Tax Withholding Services."
  • Plan Category: Similar to Client Category, this field allows the user to add an additional identifier to just “Plan Type”. A plan may be a defined benefit type, but maybe a TPA categorizes it as “Large DB” or “Small DB."
  • Plan Contact Role: The dropdown created by this list value will contain the types of roles that are used in communications to contacts and referral sources. A person at the client's office may fill several of the roles or even all. Examples include Enrollment contact, Payroll contact, Accountant, Billing contact or Distribution contact.
  • Plan Cycle Status: This list value is used to indicate the status of a Plan Cycle. Examples include Active, On Hold, Waiting, or Needs More Information. Users can select a Plan Cycle Status to be the default value when a new Plan Cycle is created for a Plan. Click once on the List Value, click the Edit button and check the box for Default. A default Plan Cycle Status is required. 
  • Plan Group: Plan Group is similar to Client and Plan Category in that it allows the user another way of classifying or associating clients with a certain line of business. A common use of this item is to associate members of a multiple employer plan or plans that might belong to an acquisition.
  • Plan On Hold Reason: This list value creates a list of reasons why a plan has been placed on hold. Examples include Non-payment of Fees, Can't Locate, or No Engagement Agreement.
  • Plan Termination Reason: The list value creates the dropdown selection for the reason that a plan status is being changed to terminated. Examples might be Moved to another Provider, Plan Terminated, or Client Unresponsive.
  • Plan Type: This list value created a dropdown of the various plan types. Examples include 401(k) Plan, Defined Benefit Plan, Cash Balance Plan, Profit Sharing Plan or 457 Plan.
  • QDIA Fund Name: This list value is used to create the dropdown list that describes the QDIA Fund Name for plans. 
  • Remittance Type: This list value will display the type of remittance to be received for contribution funding. Examples include Check, ACH, Wire, or N\A.
  • Services Provided: This list value will be used to identify services provided to the plan.  Examples include Recordkeeping, Compliance, Remittance Services, Distribution Processing, or 1099-Rs.
  • Status: This list value creates the dropdown list that will reflect the status of the service relationship with Plan Sponsors. Examples might be Active, Conversion, Terminating or Terminated. The "Terminated" status list value cannot be modified.
  • Trading Platform: This list value is used to identify the trading platform used by the plan for investment purposes. Examples include N\A, Schwab, Matrix, etc.
  • Valuation Frequency: This list value creates a drop down to indicate the valuation timing or frequency for plans. Examples include Annual, Semi-Annual, or Quarterly for DC plans or EOY (End of Year) or BOY (Beginning of year) for DB Plans.

Project

Not included in Track, Team, or Core Tiers

  • Coverage Tier: This list value refers to the Health Insurance coverage for participants that is used in the Annual Administration Data Collection process. Examples include Family, Spouse, Parent/Children, Single, or Waive.
  • Event Category: This list value creates the drop-down list to categorize Events in the Event Manager. Users can create list values to help classify their Events. Examples include Compliance Testing, Defined Benefit, or Defined Contribution.
  • Project Fields: Project Field are PensionPro's way of allowing our users to report or query on fields within their projects. Project fields are name tags to identify certain information in the system no matter where it is or in what type of project it may be stored. For example, users may design a project template to include the question, “Enter the top heavy percentage for the current year”. If this is information that the user may want to be able to gather at a later time, users would create a Project Field called “Top Heavy Percentage”. This field could be tagged in any template. Project Fields are reflected on the Plan > General Tab. On the Left-hand side of the screen, users will see an additional view called Project Fields. Any project fields tagged in projects will appear here.
  • Project Status: This list value allows users to define statuses that can be applied to a Project, either manually or automatically as determined by the Project Template.
    • Note: The Completed and In Process Project Statuses cannot be deleted or marked as inactive.
  • Project Type: This list value creates the drop down from which you will choose to categorize your various project templates. Examples might be Annual DC Administration, Actuarial Projects, Distributions and Loans, Plan Documents.
  • Separation Reason: This list value creates a dropdown list of reason for status changes. Examples include death, disability, leave of absence, military service, termination. This is a census field that does not roll forward in the data collection process.
  • Task Category: This list value creates a dropdown list of categories for Project Tasks. Examples may include Assets STatements, Contribution, or Follow Up.
  • Task Status: This list value creates a dropdown list of status values for a task. Examples may include, Waiting for Information, Sent to Client, or Verify Deposit Received.

Interaction

Only applicable for Premium and Business Tiers

  • Interaction Type: The type of interaction that a contact will be part of. Examples may include Call, Email, Meeting, or Mail.
  • Interaction Role: The role that the contact plays as part of the interaction. Examples may include Attendee, To, Organizer, CC, or From.

 

Template Tab 

Only applicable for Essential, Premium, and Business Tiers

  • Template List Values: Also known as Data Types, which are used to create available responses to task items within a Project Template.
    • Template Data Type List Values have a maximum character limit of 50 characters.

 

SalesPitch Tab

Add-On Availability: SalesPitch

Contact

  • Broker Dealer: A list of the Broker Dealers that referral sources could be registered with.
  • Platform Preference: This list value should contain the list of platform types that referral sources prefer to use.

File Types

  • Opportunity File Type: This list value is for display of the file types that can be associated with the Opportunity Record on the files tab.  Examples might include Plan document, Proposal, Plan Design Notes, etc.
  • Proposal File Type: This list value is for display of the file types that can be associated with the Proposal File Record on the files tab.  Examples might include Fund Choices, Fee Calculation, Proposal Package, etc.
  • Prospect File Type: This list value is for display of the file types that can be associated with the Prospect Record on the files tab.  Examples might include Sponsor Questionnaire, Prior Year Plan Valuation, Plan Design Notes, etc.

Investment

  • Investment Custodian: The list of custodians that handle services for proposed plans. Users will find a set of values has been pre-populated.
  • Investment Direction: In anticipation of adding investment information to PensionPro, this list value would include the different “types” of investment direction that might be applicable to plans. Examples include Participant Directed, or Trustee Directed.
  • Investment Model: In anticipation of adding investment information to PensionPro, this list value would include the different “models” of plan investments that might be applicable to plans. Examples include Vendor Platform, Pooled Accounts or Daily Recordkeeping.
  • Investment Provider: A list of investment providers for proposals tracked in SalesPitch. Users will find a set of values has been pre-populated.

Proposal

  • Conversion Type: This list value displays the conversion type for the Proposal. Examples could be Takeover, New Plan, etc.          
  • Plan Type: This list value displays the plan types for the Proposal. Examples could be 401(k) Plan, 403(b) Plan, 457 Plan, Cash Balance Plan.
  • Proposal Status: This list value displays the status of the Proposal.  It is fully user-defined.  Example values could be Not Started, In Preparation, Delivered, Under Review, etc.
    • Users can also add a Default Probability of Closing. This value will appear in the Proposal Details when the user selects that Proposal Status from the dropdown.
    • Users can also choose if the Proposal Status is a Default. The Proposal Status marked as Default will appear when users create a new Proposal without selecting a Status from the dropdown.
    • Users can also select if the Proposal is Conversion Ready. Marking the Proposal Status as Conversion Ready will activate the SalesPitch Conversion Wizard button when users select this Proposal Status.
  • Reason Won\Lost: This list value displays the reason that the Proposal was won or lost. Examples could be Lost to Payroll Provider or Won-Service.
  • Sales Contact Role: This list value displays the status of the Proposal.  It is fully user-defined.  Example values include: Not Started, In Preparation, Delivered, Under Review, etc.
  • Sales Referral Source: This list value creates a dropdown menu which will allow the user to select a Referral Source for the Proposal. Examples could include Website or Wholesale Referral.
  • Services Proposed: This list value creates a dropdown menu which allows the user to link Services Proposed to the Opportunity. Examples could include Actuarial Services, Recordkeeping Only, Full Administrative Services.
  • Valuation Frequency: This list value creates a dropdown list to indicate the valuation timing or frequency for plans.  Examples might be annual, semi-annual, or quarterly for DC plans or EOY (End of Year) or BOY (Beginning of year) for DB Plans.

Prospect

  • Prospect Category: This list value creates a dropdown list to indicate the Prospect’s Status. Examples could be Closed, Lead, Lost.
  • Sales Contact Role: Sales Contact Roles are used to associate contacts to prospects, opportunities, and proposals based on their responsibilities for the prospect or proposal.  Examples could be Sponsor Main Contact, Investment Advisor, Sponsor Census Contact, etc.
  • Sales Referral Source: This list value creates a dropdown menu which will allow the user to select a Referral Source for the Prospect. Examples could include Website or Wholesale Referral.
  • Sales Territory: This list value is to define the territory for internal sales staff. Examples include East, West, North, etc.

 

Fee Schedules Tab

Applicable for Premium and Business Tiers only

  • Fee Amount Type: This list value creates a drop-down list to indicate the fee payment amount when creating Fee Schedules. Examples may include Basis Points, Money, and Percentage.
  • Fee Category: This list value would include the different types of fees that might be on your fee schedule. Examples might be Standard Fees, Non-Standard Fees, or Consulting Fees. 
  • Fee Item Frequency: This list value creates a dropdown list to indicate the frequency at which a fee is paid. Examples may include Annual, Daily, Monthly, or Per Item.
  • Fee Item Payment Source: This list value indicates source of payment for a fee item. Examples include ACH, Check, Forfeiture, and Plan Assets.
  • Fee Item Payor: This list value describes the payor of the fee item. Examples may include, Financial Advisor, Participant, Plan Sponsor, or Payroll Provider.
  • Fee Item Type: This list value would include the different types of fees that might be on your fee schedule. Examples might be Takeover Fee, Audit Fee, Base Fee, or per Participant Fee.

 

Distributions Tab

Add-On Required: Distributions

  • Distribution Status: This list value allows users to define statuses that can be applied to a Distribution, either manually or automatically as determined by the Project Template.
    • Note: The Aborted, Completed, In Process, and Not Approved Project Statuses cannot be deleted or marked as inactive.
  • Key Employee Type: This List Value is used in the Distribution screens in Workflow to denote the reason an employee is a Key Employee. Examples of options for the dropdown might be Yes, Officer, Owner, Related Family Member, 1% owner, 5% owner, or No.
  • Vesting Source: The list value creates a dropdown for use in indicating the vesting sources when processing distributions in Workflow. Examples might be Pre-Tax Salary Deferral, Discretionary Match or Safe Harbor Non-Elective. 

 

 

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