When a distribution requires Plan Sponsor approval—and perhaps some accompanying documentation—PlanSponsorLink can act as a one-stop shop through the use of Data Collection. When added to a Distribution Project, this type of Data Collection can help ensure every detail is in order before the distribution begins to be processed.
Tier Availability: Business
Article Contents
- Overview of Data Collection for Distributions
- Distribution Data Collection Preferences
- Creating a Distribution Data Collection Template
- Launching Distributions with Data Collection
Overview of Data Collection for Distributions
Distribution Projects can be given their own basic form of Data Collection that only requires a single step. Contacts who perform Data Collection for a Distribution on PlanSponsorLink will be asked to verify the participant's details and other information, and then approve the Distribution by submitting the Data Collection. The Sponsor has the ability to add notes or files to this Distribution, but this isn't required.
Data Collection for Distributions is just one type of Data Collection that can be performed. For a list of all types and instructions for using Data Collection in general, refer to the article Overview of Web Data Collection.
Distribution Data Collection Preferences
Prior to beginning a Distribution with Data Collection, it is a good idea to review the firm's Data Collection preferences. Refer to the Web Collection section of the article Distribution Preferences for more information. The preferences contained in this view govern the wording of a number of messages on PlanSponsorLink.
Creating a Distribution Data Collection Template
Requires Security Rights: Maintenance
In order to add Data Collection to a Distribution Project, the Project Template must be set up accordingly. This section outlines the Template-level settings and workflow changes that will need to be made in order to turn a regular Distribution into one requiring Data Collection.
The instructions in this section assume familiarity with Project Template creation. For more information, refer to the article Project Templates.
Template Settings
Firstly, the Project Template for a Distribution with Data Collection requires specific settings be applied. This combination of settings informs PensionPro that this Project will use the functionality designed specifically for Distributions and should include the Data Collection element:
- Project Type must be set to Distribution.
- Require Web Data Collection must be set to True.
Workflow Settings
The below steps must be taken in order to add the appropriate Data Collection tasks to the Project workflow. Project Templates that do not meet these requirements cannot be used.
- The first Task Grouping must be titled Data Collection.
- The Data Collection Task Grouping must contain only the following Tasks, in this order:
- Distribution Request Notification
- Approval and Submission
Some additional notes on the Data Collection workflow:
- The Distribution Request Notification Task should be assigned to an Employee Role/Worktray, as a PensionPro user will have to complete this step to make the Data Collection available on PlanSponsorLink.
- The Approval and Submission Task will be completed by the Plan Sponsor. For this reason, it is better to assign this Task to a designated Worktray for monitoring, rather than an Employee Role.
- Following the Approval and Submission Task, create a new Task Grouping and continue the Project workflow like any other Distribution.
Launching Distributions with Data Collection
Requires Security Rights: Add/Edit Projects
A Distribution with Data Collection is launched like any other Distribution Project as per the instructions in the Launching Distributions section of the article Distributions. The Distribution workflow will start at the first Task, Distribution Request Notification, which provides the TPA the opportunity to make preparations (such as adding Distribution details) before directing Plan Contacts to PlanSponsorLink. Data Collection is not available in PSL until this Task is completed.
Concepts common to all forms of Data Collection—such as sending requests via Blast Email and instructions for using each Data Collection step—are presented in the article Overview of Web Data Collection.