| FAQ 292: Eligibility--Plan effective 1/1, but all employed on 5/1/03 enter on 5/1/03 |
Can you please tell us how to code a plan that was effective 1/1/03 but allowed anyone into the plan immediately if they were hired prior to 5/1/03? Is there a place to input this date or must each employee be coded manually? If so, how should they be coded?
You can do this on ASC by the following:
1) Temporarily change the Effective Date in the Plan Specs to 5/1/03
2) Code the "Use Effective Date" to "All" in the Plan Specs Elig screen. This will bring in everyone who was hired by 5/1/03.
3) Calculate Eligibility. This should set everyone who was hired by 5/1/03 with entry dates of 5/1/03.
4) Use the Grid to set all those with entry dates of 5/1/03 to status C. Remember that status C participants will never have their entry dates recalculated by the system.
5) Change the Effective Date back to 1/1/03.
6) Calculate Eligibility again, to reset other necessary dates to 1/1 (e.g. Vesting Start Date)