PLAN ACCOUNTING Sample Clauses
The Plan Accounting clause defines how the financial records and transactions related to a specific plan—such as a retirement, health, or employee benefit plan—are to be maintained and reported. It typically outlines the responsibilities for tracking contributions, distributions, investment performance, and expenses associated with the plan, and may specify the standards or methods to be used for accounting purposes. By establishing clear procedures for plan accounting, this clause ensures transparency, accuracy, and compliance with regulatory requirements, thereby reducing the risk of errors or disputes over plan finances.
PLAN ACCOUNTING. 1. Process payroll contributions according to payroll frequency via electronic data transfer (EDT), consolidated magnetic tape or diskette. The data format will be provided by Fidelity.
2. Provide Plan and Participant level accounting for up to nine (9) money classifications for the Plan.
3. Audit and reconcile the Plan and Participant accounts daily.
4. Provide daily Plan and Participant level accounting for the Plan investment options.
5. Reconcile and process Participant withdrawal requests as approved and directed by the Sponsor. All requests are paid based on the current market values of Participants' accounts, not advanced or estimated values. A distribution report will accompany each check.
6. Track individual Participant loans; process loan withdrawals; re-invest loan repayments; and prepare and deliver comprehensive reports to the Sponsor to assist in the administration of Participant loans.
PLAN ACCOUNTING. 1) Process consolidated payroll contributions according to the Sponsor’s payroll frequency via Plan Sponsor Webstation or other medium permitted by the Trustee. The data format will be provided by the Trustee.
2) Maintain and update employee data necessary to support Plan administration. The data will be submitted according to payroll frequency.
3) Provide daily Plan and Participant level accounting for all Plan investment options.
4) Provide daily Plan and Participant level accounting for all money classifications for the Plan.
5) Audit and reconcile the Plan and Participant accounts daily.
6) Reconcile and process Participant withdrawal requests and distributions as approved and directed by the Sponsor. All requests are paid based on the current market values of Participants’ accounts, not advanced or estimated values. A distribution report will accompany each check.
7) Maintain and process changes to Participants’ existing hypothetical investment mix elections.
PLAN ACCOUNTING. The Administrator will make available to you a statement of your account during the Plan Year that shows your account balance. It is important to read these statements carefully so you understand the balance remaining to pay for a benefit. Remember that you want to spend all of the money you have designated for a particular benefit by the end of the Plan Year.
PLAN ACCOUNTING. Process consolidated payroll contributions according to the Sponsor’s payroll frequency via EDT or Fidelity Plan Sponsor Webstation®. The data format will be provided by Trustee.
PLAN ACCOUNTING. 1. Process consolidated payroll contributions according to the Sponsor’s payroll frequency via EDT, consolidated magnetic tape or diskette. The data format will be provided by Trustee.
2. Maintain and update employee data necessary to support Plan administration. The data will be submitted according to payroll frequency.
3. Provide daily Plan and Participant level accounting for all Plan investment options.
4. Provide daily Plan and Participant level accounting for all money classifications for the Plan.
5. Audit and reconcile the Plan and Participant accounts daily.
6. Reconcile and process Participant withdrawal requests and distributions as approved and directed by the Sponsor. All requests are paid based on the current market values of Participants’ accounts, not advanced or estimated values. A distribution report will accompany each check.
7. Track individual Participant loans; process loan withdrawals; re-invest loan repayments; and prepare and deliver comprehensive reports to the Sponsor to assist in the administration of Participant loans.
8. Maintain and process changes to Participants’ deferral percentage and prospective and existing investment mix elections.
PLAN ACCOUNTING consolidated payroll contributions according to the Sponsor’s payroll frequency via EDT, consolidated magnetic tape or diskette. The data format will be provided by Trustee via EDT, PSW, or as otherwise agreed upon in writing. If there is a change in data format, the Trustee will provide reasonably advanced notification to Sponsor.
PLAN ACCOUNTING. 1. Process payroll contributions according to your payroll frequency via electronic data transfer (EDT). The data format will be provided by Fidelity.
2. Provide plan and participant level accounting for all money classifications for each Plan.
3. Audit and reconcile the plan and participant accounts daily.
4. Provide daily plan and participant level accounting for all investment options.
5. Reconcile and process participant withdrawal requests as approved and directed by the Sponsor. All requests are paid based on the current market values of participants' accounts, not advanced or estimated values. A distribution report will accompany each check.
6. Track individual participant loans; process loan withdrawals; re-invest loan repayments; and prepare and deliver comprehensive reports to plan sponsor to assist in the administration of participant loans.
PLAN ACCOUNTING. 1. Process payroll contributions according to payroll frequency via electronic data transfer (EDT). The data format will be provided by Fidelity.
2. Provide plan and participant level accounting for up to fifteen (15) money classifications for the Plan.
3. Audit and reconcile the plan and participant accounts daily.
4. Provide daily plan and participant level accounting for all investment options.
5. Reconcile and process participant withdrawal requests as approved and directed by the Sponsor. All requests are paid based on the current market values of participants' accounts, not advanced or estimated values. A distribution report will accompany each check.
6. Track individual participant loans; process loan withdrawals; re-invest loan repayments; and prepare and deliver comprehensive reports to plan sponsor to assist in the administration of participant loans.
7. Fidelity's Guaranteed Investments Daily Equity System (GUIDE) is an automatic GIC daily portfolio accounting system. GUIDE provides the Sponsor with daily valuation of their plan assets whether individually managed or in our Managed Income Portfolio.
8. Maintain and process changes to participants' prospective and existing investment mix elections via Fidelity's toll-free telephone service.
PLAN ACCOUNTING. 1. Process consolidated payroll contributions according to the Sponsor's payroll frequency via EDT, consolidated magnetic tape or diskette. The data format will be provided by Trustee.
2. Maintain and update employee data necessary to support plan administration. The data will be submitted according to payroll frequency.
3. Provide daily Plan and participant level accounting for all Plan investment options.
4. Provide daily Plan and participant level accounting for all money classifications for the Plan.
5. Audit and reconcile the Plan and participant accounts daily.
6. Reconcile and process participant withdrawal requests and distributions as approved and directed by the Sponsor. All requests are paid based on the current market values of participants' accounts, not advanced or estimated values. A distribution report will accompany each check.
7. Track individual participant loans; process loan withdrawals; re-invest loan repayments; and prepare and deliver comprehensive reports to the Sponsor to assist in the administration of participant loans.
8. Maintain and process changes to participants' deferral percentage and prospective and existing investment mix elections.
PLAN ACCOUNTING. 1. Process payroll contributions according to payroll frequency via electronic data transfer (EDT), consolidated magnetic tape or diskette. The --- data format will be provided by Fidelity.
2. Provide Plan and Participant level accounting for the money classifications for the Plan.
3. Audit and reconcile the Plan and Participant accounts daily.
4. Provide daily Plan and Participant level accounting for the Plan investment options.