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PensionPro pulls valuable information from the Form 5500 and stores it in the Plan Cycles for each year. The information for Forms 5500-EZ and 5500-SF for single participant plans are not provided by the DOL and, therefore, will not populate the plan cycle record. This article will explain where this information is stored and what information will populate.
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Menu:
Plan Cycles:
The 5500 information is found within Plan Cycles.
- In either the Search dashboard or the Search bar, type the name of the plan.
- Double-click on the Plan Name.
- Click on the Plan Cycles tab located on the left.
- Locate the correct Plan Cycle and then double-click on it.
- Below is a list of fields that will populate.
Populating the Fields:
If a Plan Cycle is created for a previously filed 5500 the system will sync with the database and, if the information is available, populate the fields overnight. However, if the Plan Cycle is created and the 5500 has not been filed, then the system will check on the fifteenth of every month to see if the information is available. When the information is found in the database, it will automatically populate the Plan Cycle information.
Please note that when the form is filed with the DOL the information is not made available to us immediately.
The system uses the EIN, IRS Plan Number, and Plan Cycle date to find data in the database. An Employer Data record must exist with a valid EIN for each plan year. Also, a Plan Cycle must exist for each plan year. The dates for the Employer Data record and the Plan Cycle must match the dates for the 5500.
If filing information is available, the Plan Cycle will automatically populate with the corresponding information. If available from the database, Plan Cycles will populate with information dating back to 2011.
Please note that the information for Forms 5500-EZ and 5500-SF for one participant plans are not provided to us by the DOL and, therefore, will not populate the plan cycle record.
The Plan Cycle > General tab contains a Refresh Plan Cycle Data button to the right of the grid. Clicking this button will refresh the page with any available data from the Department of Labor.
Fields that will Populate in Plan Cycles:
General tab
- Total Asset Based Revenue for the Period
- Plan Employer Type
- Initial Filing
- Business Code
- Failure to satisfy 29 CFR 2510.3-102
- Was the Plan covered by a fidelity bond?
- Fidelity Bond Amount
- Plan Type
- Sub Type (Plan Characteristic Codes)
- Floor Offset (1D)
- 414(k) (1F)
- PBGC (1H)
- Frozen Plan (1l)
- Cross-Test\Age\Service (2A)
- Offset (2D)
- 404c (2F)
- Self-Directed (2G/2H)
- 401(k) (2J)
- Matching (2K)
- ESOP Sub s (2Q)
- Participant-Directed Brokerage (2R)
- Auto Enrollment (2S)
- Defined Investment Accounts (2T)
- Self Employed (3B)
- Non-Qualified (3C)
- Pre-Approved (3D)
- One Participant (3E)
- Leased Employees (3F)
- Controlled Group (3H)
- Employer Securities (3I)
- PR Dual Qualified (3J)
- Health (4A)
- Life Insure (4B)
- Supplemental Unemployment (4C)
- Dental (4D)
- Vision (4E)
- Temporary Disability (4F)
- Prepaid Legal (4G)
- Long-Term Disability (4H)
- Severance Pay (4I)
- Apprenticeship and Training (4J)
- Scholarship (4K)
- Death Benefits Excluding Life (4L)
- Taft-Hartley Housing (4P)
- Welfare Other (4Q)
- Unfunded\Fully Insured\Combo (4R\4S)
- 419A 10 or more (4T)
- 419 Union (4U)
Participant tab
- Total Participant Count – BOY
- Total Active Participant Count – BOY
- Total Participant Count – EOY
- Total Active Participant Count – EOY
- Participant with Account Balance – EOY
- Total Count of Participants\Employees for Billing Purposes
Filings tab
- Schedule R Attached
- Schedule MB Attached
- Schedule H Attached
- Schedule I Attached
- Schedule A Attached
- Number of Schedule A Attached
- Schedule C Attached
- Schedule D Attached
- Schedule G Attached
- Admin Signed Date (can also be populated from FTW integration)
- Sponsor Signed Date (can also be populated from FTW integration)
Actuarial tab
- Valuation Date
- Market Value of Assets
- Actuarial Value of Assets
- Number of Participants
- Total Funding Target
- Effective Interest Rate
- Target Normal Cost
- Carryover Balance at Beginning of Current Year
- Pre-funding Balance at Beginning of Current Year
- Funding Target Attainment Percentage
- Prior Year’s Funding Percentage
- Contribution Amount Paid by Employers
- Contributions Allocated to Min Required Contribution
- Discount Rate Applicable Month
- Total Funding Requirement Before Carryover or Pre-funding Balances
Financial tab
- Net Plan Assets – BOY
- Net Plan Assets – EOY
- Employer Contributions
- Participant Contributions
- Rollover or Other Contributions
- Gain\Loss
- Total Income
- Benefits Paid
- Deemed or Corrective Distributions
- Administrative Service Providers Payments
- Other Expenses
- Net Income\Loss
Does anyone know when the information is updated in the plan cycle from the DOL after the 5500 has been filed? We check and our 12/31/2015 plans are showing but a 5500 form that was filed in December 2016 has not updated on the plan cycle.
Do the plan cycles have to be established in PensionPro before the DOL can be pulled into PensionPro, or will the plan cycles be created automatically?
The Plan Cycles need to be created before the information will populate. You can do this en masse using the Power Tools\Plan Cycles. Also make sure that the Employer Data record in Client Details\Employer Data has the correct EIN and correct dates. Also in Plan Details make sure the IRS Plan Number matches the 5500. Let us know if you still have questions!
Was there a change to the plan reports for the Plan Cycle fields? When we pull the Plan Cycle Details List report the General, Filings, Actuarial and Financial Tabs are all missing.
There is a report in Reports\Plans\Plan Cycle List that should provide you with the information from the Plan Cycle tabs. Let us know if that report does not give you what you are looking for!
Plan ID Plan Name Period Start Period End Frequency Form THese are the current column heading on the report: 5500 Type 5558 Filed Date 5500 Invited Date 5500 Signed Date Admin Signed Date Admin Signed Name Sponsor Signed Date Sponsor Signed Name DFE Signed Date DFE Signed Name 5500 Filed Date 5500 Accepted Date 8955 Filed Date Sign Status Acceptance Status
These are the previous column headings: Plan ID Plan Name Period Start Period End Frequency Total Asset Based Revenue for the Period Total Budget Amount Plan Employer Type Initial Filing Business Code Failure to satisfy 29 CFR 2510.3-102 Was the Plan covered by a fidelity bond? Fidelity Bond Amount DOL Plan Type DOL Plan Sub Type Floor Offset (1D) 414(k) (1F) PBGC (1H) Frozen Plan (1I) Cross-Test\Age\Service (2A) Offset (2D) 404c (2F) Self-Directed (2G/2H) 401(k) (2J) Matching (2K) ESOP Sub S (2Q) Participant Directed Brokerage (2R) Auto Enrollment (2S) Defined Investment Accounts (2T) Self Employed (3B) Non Qualified (3C) Pre-Approved (3D) One Participant (3E) Leased Employees (3F) Controlled Group (3H) Employer Securities (3I) PR Dual Qualified (3J) Health (4A) Life Insurance (4B) Supplemental Unemployment (4C) Dental (4D) Vision (4E) Temporary Disability (4F) Prepaid Legal (4G) Long-Term Disability (4H) Severance Pay (4I) Apprenticeship and Training (4J) Scholarship (4K) Death Benefits Excluding Life (4L) Taft-Hartley Housing (4P) Welfare Other (4Q) "Unfunded\ Fully Insured\Combo
(4R\4S)" 419A 10 or more (4T) 419A Union (4U) Total Participant count - BOY Active Participant count - BOY Total Participant count - EOY Active Participant count - EOY Participants With Account Balances - EOY Total Count of Participants\Employees for Billing Purposes Form 5500 Type 5558 Filed Date 5500 Invited Date 5500 Signed Date Admin Signed Date Admin Signed Name Sponsor Signed Date Sponsor Signed Name DFE Signed Date DFE Signed Name 5500 Filed Date 5500 Accepted Date 8955 Filed Date Sign Status Acceptance Status Schedule R Attached Schedule MB Attached Schedule SB Attached Schedule H Attached Schedule I Attached Schedule A Attached Number of Schedule A Attached Schedule C Attached Schedule D Attached Schedule G Attached ADP Result ACP Result 401(a)(4) General Non-discrimination Top Heavy 415 Limit 404 Deduction Limit 410(b) Coverage - ER Match 410(b) Coverage - ER PS 410(b) Coverage - 401(k) Valuation Date Market Value of Assets Actuarial Value of Assets Number of Participants Total Funding Target Effective Interest Rate Target Normal Cost Carryover Balance at Beginning of Current Year Pre-funding Balance at Beginning of Current Year Funding Target Attainment Percentage Adjusted Funding Target Attainment Percentage Prior Year's Funding Percentage Contribution Amount Paid by Employers Contributions Allocated To Min Required Contribution Discount Rate Applicable Month Total Funding Requirement Before Carryover or Pre-funding Balances Net Plan Assets - BOY Net Plan Assets - EOY Employer Contributions Particpant Contrbutions Rollovers or Other Contributions Gain\Loss Total Income Benefits Paid Deemed or Corrective Distributions Administrative Service Provider Payments Other Expenses Net Income\Loss
Was there a change to the plan reports for the Plan Cycle fields? When we pull the Plan Cycle Details List report the General, Filings, Actuarial and Financial Tabs are all missing.
Can you please update this article to show what information is pulled in from erisapedia and what information is manually entered? Like where does the Total Count of Participants\Employees for Billing Purposes get pulled from or this a manual entry field.