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PensionPro 2.0 - Using Plan Cycles

Plan Cycles in PensionPro are used to store annual recurring plan information such as plan assets, participant count information, Form 5500 filing information, and compliance test results.

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

Security Rights Required: Add/Edit Plan Cycles, Add/Edit Projects, Access Power Tools

 

Plan Cycles can be accessed from two locations within PensionPro.

  • On the Plan level, click the Plan Cycles tab from the menu on the left. To access a specific Plan Cycle, double-click the appropriate Plan Cycle, which will open the underlying fields within the Plan Cycle.
  • From within an Annual Administration project, click the Plan Cycle tab. The Plan Cycle associated with the Annual Administration project will be displayed. Please note that Annual Administration projects are only available in Essential, Premium, and Business tiers.

 

  Note: Tabs and fields will vary depending on the tier the user is on.

Menu:

 

Create a Plan Cycle

There are three ways to create a Plan Cycle in PensionPro.

  • A Plan Cycle is automatically created when an annual administration project is launched for a plan that includes Web Collection (Essential, Premium, and Business Tiers only).
  • Plan Cycles can be created manually one plan at a time.
    1. On the Plan level, click the Plan Cycles tab.
    2. Click the Add icon in the right corner of the screen.
    3. A pop-up window will appear. Complete the Period Start and Period End, and then click Save.

For more information on entering and importing Plan Cycle data, please review Entering and Importing Plan Cycle Data.

 

Editing a Plan Cycle

  1. Locate the Plan Cycle and fields that need to be updated.
  2. Click the Edit icon located in the upper right corner. The Edit Plan Cycle pop-up window will appear.
  3. Update the appropriate fields with data and click Save.

Plan Cycle data can also be imported from external sources such as the firm’s forms software provider.

 

Delete a Plan Cycle

The Plan Cycle must not be linked to a project in order to be deleted.

Security Rights Required: Add/Edit Plan Cycles, Maintenance

  1. From the Plan Cycles grid, double-click the Plan Cycle record to be deleted.
  2. Click the Edit icon to the right of the General Information grid.
  3. Select the Marked for Deletion checkbox.
  4. Click Save.
  5. From the Navigation Panel, click Maintenance > Data Deletion.
  6. Select Plan Cycles from the menu on the left.
  7. Hover over the Plan Cycle and click the Delete icon. 
  8. Click the Delete button and click Yes to confirm the deletion.

 

Fields Displayed

Home Tab

Most of the fields found in the home tab are populated by either the DOL integration or the integration with ftwilliam.com. If PensionPro is not linked with ftwilliam.com and the user wishes to use these fields, the information can be entered manually. Information entered in any of the fields that are populated by either integration will be overridden and locked and/or unavailable when the sync occurs.

Projects Tab (Essential, Premium, and Business Tiers only)

  • The Project Name, Project Type, Project Manager, Due Date, and Date Completed will show in the Projects tab for any Project that is associated with the Plan Cycle.

5500 Signing Roles Tab (applicable for ftwilliam.com integration only)

  • For firms that have enabled the integration between PensionPro and ftwilliam.com, this tab will show any Form 5500 Signers that are linked between PensionPro and ftwilliam.com. Setting the Form 5500 signer up in PensionPro will link the ftwilliam.com 5500 Portal to PlanSponsorLink which allows the signer to login into PlanSponsorLink and access the ftwilliam.com 5500 Portal through a single sign-on button titled Sign My 5500.
    • Please note that the ftwilliam.com integration is not included in the Track Tier.

 

Frequently Asked Questions

Why can't I mark a Plan Cycle for Deletion? If the Plan Cycle is attached to a project, it cannot be deleted. The user must first delete the project prior to deleting the Plan Cycle.

Can I update Safe Harbor Status in Plan Cycles? Yes. Click the Edit icon on the Plan Cycle > General tab to select the Safe Harbor checkbox. This will indicate that the plan was Safe Harbor for that plan year. The Safe Harbor column value will display Yes on the Plan Cycle > General Information grid for that plan year it was marked Yes.

When I create a new Plan Cycle record, does my Safe Harbor Status value roll forward? Yes. The system currently rolls the Safe Harbor value to the following period when a new Plan Cycle record is created for the following plan year.

 

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