FAQ 247: Calculations--Forfeitures not forfeiting or reallocating


I cannot get a plan to forfeit any amounts from the ZZ Forfeiture account/employee, or reallocate those forfeitures. What am I missing?


The problem stems from the fact that the ZZ Forfeiture account is not forfeiting. I believe that it is being caused by a combination of spec miscoding and missing data in the employee's record. Do the following and that account should forfeit and reallocate:

1) Go into the "ZZ Forfeiture, Account" record, go to the Dates and Status screen, and input "1/1/1995" in the following fields:

- Secondary Entry
- Tertiary Entry
- Vesting Start
- Fully Vested

Also input "12/31/2035" in the following fields:

- Date NRA Attained
- Normal Retirement

Then click "OK" to save the changes. Normally, these fields should be populated by the system prior to the status being changed to "F".

2) Go into the fund specs, go to the Fund Definition (FUNDDEF) screen, delete the "1" in the "Fund to Store Forfeited Amounts" field since that is a daily valuation field, and input "AB" in the "Groups in Interest Group #3" field, since all groups must be coded in one of the Interest Groups.

Then save the specs and run calculations and the amounts should forfeit and reallocate.