Year End Census Data Collection
Every year around this time, TRA collects census data from their clients. The plan sponsor prepares the census for TRA which includes data such as; employee name, date of birth, social security number, date of hire, date of termination, date of rehire, annual compensation, deferrals, etc. This information is required for TRA to prepare the necessary year end compliance work for your retirement plan.
We’ve put together a short, simple tutorial to assist you with completing the electronic year end census data request.
Join us to learn how to:
• Login to PlanSponsorLink
• Compile pertinent data
• Electronically submit year end census data
Below is the recorded webinar.
To download our Year-end Data Collection Checklist CLICK HERE
FAQ's
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If I need to exit the collection part way though, will the information I previously answered save? Or will I need to re-enter it?
Answer: If you click save as you complete each screen, the information will save within the form for each step that is completed. So no worries about re-entering on those items.
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How do I get my accountant access to the site to answer these questions?
Answer: If you would like to grant additional access, please reach out to your Client Relationship Manager for assistance.
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When is this information needed by?
Answer: If your plan is not Safe Harbor, you have over 100 employees, or you are requesting an allocation we need the data by January 31, 2023 in order to guarantee we will have the appropriate items completed for you by federal deadlines. Late fees of $300 are assessed for data submitted after May 15.
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What is earned income?
Answer: Self employment income prior to taxes but after applicable plan expenses.
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My spreadsheet won’t upload. What’s wrong?
Answer: Check to make sure columns were not added or removed. Check to make sure column headers were not changed. Check to make sure you did not use any formulas in the cells. Check to make sure the appropriate fields are completed for all employees listed. If everything appears to be correct and you are still having issues, please contact your CRM.
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Can I get a copy of this data after submission?
Answer: Yes. You can click the Data Collection tab and download a copy.
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How to Login to PlanSponsorLink (PSL)
PlanSponsorLink is the secure client portal TRA uses to securely share and transmit plan and participant data as well as collect the required information at the end of each Plan Year End (PYE).
How to Login/Register:
If you have additional questions contact your CRM directly at 888.872.2364
