| FAQ 332: Calculations--Forfeitures to be reallocated as a plan total not forfeited by participant |
How do I set up ASC to forfeit a total dollar amount of forfeitures, if I am not using the system to determine forfeited amounts for each terminated participant? Can I input an amount to be used for total plan forfeitures somewhere?
Add a dummy participant, called something like "Forfeitures", and then input the balance (as either a prior balance or a transfer in) to be reallocated. Then when you want to reallocate the forfeitures, you can change the dummy participant's status code to a forfeiting status (like status "F") and (if the coding in the source specs is correct) the forfeitures will be reallocated.