Verify participant data

Plan sponsor actions for preparing data

The plan sponsor is strongly encouraged to verify their plan’s participant data prior to conversion. Inaccurate data can cause delays in completing the conversion.

Any required updates should be completed as noted below by the Wednesday prior to the conversion weekend.

What participant data to check and why

In addition to correcting any other noticeable errors, these are the most important participant data fields to verify:

Participant data

Impact of errors

Name

Incorrect account information and statements

Address

Undeliverable mail

Date of birth

Distribution and tax reporting implications

Date of hire, years of service

Possible vesting calculation issues

How to verify and correct participant data

1) Log in to the RecordkeeperDirect® plan sponsor website

Go to the RecordkeeperDirect Plan Sponsor Website and log in.

2) Request a custom participant report in RecordkeeperDirect 

  1. Select the Reports & Analysis tab and then the VIEW ADVANCED REPORTS button.
  2. Click the REQUEST A CUSTOM PARTICIPANT REPORT button.
  3. Select Census, click all check boxes in the Show column, and then click the RUN REPORT button.

3) Verify the data

  1. To view the results online and reveal all of the columns on each page, scroll to the right using the horizontal scroll bar at the bottom of the report window.
  2. To print or download the results, click the Print or Download to Spreadsheet links at the upper right of the Advanced Reports window.

4) Correct errors

  1. To edit a participant’s record, click the SSN link in the left column of the report window.
  2. Update Personal & Employment Information as needed and click the NEXT button to view or update other sections of the participant’s record. Click DONE to proceed.
  3. Verify the participant’s information in the View/Change window and click SUBMIT to save. 
  4. When the confirmation window pops up, confirm that your request was submitted successfully, note the confirmation number and click OK.

Questions? Contact us

During conversion

After conversion

Plan setup

Adding funds

TPA plan provision summary

Plan installation kit

Preparation

Verify participant data

Payroll processing options

Completion

Beneficiary tracking options

Demos & tutorials

Demonstration websites

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