Employer Data for Clients

Annual plan administration requires a lot of data that pertains to the sponsor company, and isn't directly related to the plan itself—such as payroll information, business entity type, and who owns the company. In PensionPro, this type of information is recorded yearly and saved under the Client record as Employer Data. This article details how to collect Employer Data and manage it once it's safely in PensionPro.

Tier Availability: Track, Team, Business

Article Contents

• Overview of Employer Data
• Employer Data on the Client Tab
  • Adding & Editing Employer Data Records
• Working with Employer Data Views
  • Company View
  • Principals View
  • Family View
  • Other Businesses View
• Employer Data and Annual Data Collection
• Importing Employer Data via Power Tools

Overview of Employer Data

Employer Data records the yearly company information needed for annual administration—entity type, EIN, ownership information, family members, other businesses, etc.—and saves a copy of this data for each plan year to the Client tab.

While the TPA can enter this information directly into PensionPro, it is most commonly added by a Plan Contact when using Annual Data Collection via PlanSponsorLink.

Employer Data on the Client Tab

To manage a Client's Employer Data, navigate to their Client tab and select Employer Data from the Views list on the left. Each entry in the Employer Data grid is a record of the company information collected for a given plan year.

To view additional company information for a given plan year (such as principals and family members), double-click the appropriate entry in the grid. A new Employer Data tab opens to the Company view.

Adding & Editing Employer Data Records

Requires Security Rights: Add/Edit Client

To add a new Employer Data record for a plan year:

1. Select Add at the top-right of the Employer Data grid. The Add Company Information window displays.
2. Use Fiscal Year End Month and Fiscal Year End Day to set the end date of the Client's fiscal year.
3. Enter the beginning and end dates of the plan year into the Period Start and Period End fields.
4. (optional) Enter any other available information as needed.
5. Select Save. The Employer Data entry will be created and added to the grid.

To make changes to an Employer Data record, hover over its entry in the Employer Data grid and select Edit or Delete on the right-hand side.

Working with Employer Data Views

Double-clicking an entry in the Employer Data grid of the Client tab will open that record in a new Employer Data tab. This provides access to more information than is displayed on the Client tab itself.

Each of these views is discussed in more detail in the following sections.

Company View

The Company view includes details such as the plan year start and end dates, company EIN and NAICS code, and payroll information. This matches the information that was available in the Employer Data grid, as listed in the section Employer Data on the Client Tab; refer that section for more information.

Editing Company Data

Requires Security Rights: Add/Edit Client

To edit information on the Company view, select Edit at the top-right of the grid.

Principals View

The Principles view includes the names and details of any company owners and officers.

Adding & Editing Principal Data

Requires Security Rights: Add/Edit Client

To add a new Principal entry:

1. Select Add at the top-right of the Principals grid. The corresponding window displays.
2. Enter the principal's Name.
3. If needed, enter an SSN.
   • SSN is required if the principal is also a company employee, as indicated on the employee census for the plan year. If Is Not Employee is selected in this window, an SSN is not required.
4. (optional) Select Is Not Employee and/or Officer if applicable.
5. Select a Title and enter an Ownership Percentage.
6. Select Save. The new principal entry is added to the grid.

To make changes to a Principal record, hover over its entry in the grid and select Edit or Delete on the right-hand side.

Family View

The Family view contains the names and details of any employees who are related to company principals.

Adding & Editing Family Data

Requires Security Rights: Add/Edit Client

To add a new Family entry:

1. Select Add at the top-right of the Family grid. The corresponding window displays.
2. Enter the family member's Name and SSN.
3. Select their Relationship to the principal, and who they are Related To.
4. Select Save. The new family entry is added to the grid.

To make changes to a Family record, hover over its entry in the grid and select Edit or Delete on the right-hand side.

Other Businesses View

The Other Businesses view records the business information of any additional companies that a principal has an ownership stake in.

Double-clicking on a company in the Other Businesses grid displays the owners of that company. Use the breadcrumb links at the top-left of the Owners grid to return to Other Businesses.

Adding & Editing Other Businesses & Owners

To add a new company to Other Businesses:

1. Select Add at the top-right of the grid. The corresponding window displays.
2. Enter the Company Name.
3. Select the Entity Type and whether the company is Qualified Plan Sponsored.
4. (optional) Complete the remaining fields as needed.
5. Select Save. The new company is added to the grid.

To add an owner for an Other Business:

1. If needed, double-click an entry in the Other Businesses grid to view its owners.
2. Select Add at the top-right of the Owners grid. The corresponding window displays.
3. Enter the owner's Name and ownership Percentage.
4. Select Save. The new owner is added to the grid.

Both Other Business and Owners can be managed by hovering over the entry in the appropriate grid and selecting Edit or Delete on the right-hand side.

Employer Data and Annual Data Collection

Tier Availability: Team, Business

Using Data Collection via PlanSponsorLink will greatly simplify the management of Employer Data—largely as much of it will be entered by the Plan Sponsor directly. Employer Data integrates with Annual Data Collection in the following ways:

• When Annual Data Collection is launched, if an Employer Data record doesn't already exist for the plan year, it will be created.
  • Additionally, if Employer Data was added for the previous plan year, it will be rolled forward to the new plan year.
• Updates made by a Contact in PlanSponsorLink will be reflected in the Employer Data record immediately.
  • This is also true if an Employee updates the Data Collection in PensionPro.

For more information, refer to the article Data Collection - Annual Data Collection.

Importing Employer Data via Power Tools

Some Employer Data can optionally be imported into PensionPro from a spreadsheet file. This option can be useful for backfilling older company data or adding information such as the EIN in cases where Data Collection won't be used.

For more information, refer to the article Data Import - Employer Data / Company Information.