Avoid Overcontributions – Monitor Participant YTD Contribution Totals.

You may need to monitor participant deferral amounts to ensure that they are not overcontributing to their 401(k)s. We are unable to accept over contributions and are required to refund any participants who overcontribute. To avoid excessive refunds to participants, you can utilize the YTD Participant Contribution Totals report which provides each participant’s Year to Date Contribution totals.

To run the YTD Participant Contribution Totals, logon as a Plan Sponsor at Jocelyn Pension Consulting.  Once you have logged into your account, from your dashboard, go to the Forms & Reports menu and select Reports.

From the Reports window, select Contribution Analysis, with source type totals.  In the From and To dates,  enter today’s date and select Submit.

Once the report is complete, click on Open Report to download the report.

The YTD Participant Contribution Totals report details each participant’s Year to Date Contribution totals by source:

Please visit Creating Custom Reports via your Plan Sponsor website for information on how to run other reports in this section.