| FAQ 755: Budget--Integrated PS allocation w/sole prop - design at 5.4% rather than 415 $limit |
I'm currently doing some proposals. The plan's allocation formula is 5.4% of the integration level (80% of SSWB rounded to next 100) For 2007 the integration level is 78100.00
How can I solve for the following PS contribution:
Step 1) 5.4% over the integration
Step 2) additional 5.4% for all participants
I know I can just play with this to make it work. The issue is the plan sponsor is a sole proprietor, so I'd like to solve it with the budget if possible.
In the source 2 specs under the "Show Total Contrb." button, code the screen with the integration as well as under the "Show Parameters" button. The system should then come up with the total contribution based on the formula under the "Show Total Contrb." button, then allocate that total contribution based on the coding under the "Show Parameters" button. The budget setup should then disable the "Source 2 Contribution" field.
When you are prompted in the ASCWIN window, leave the "Maximum Allocation" as blank(zero), rather than the default of the 415 limit. That way it will read the overall contribution coded in source 2 without trying to target the principal at 415.