Contribution Compliance Checklist
Are you prepared to send your latest payroll contribution file to Leading Retirement Solutions? To help make this process easier for you, we are providing an important and necessary tool to you to help ensure an error free and compliant contribution process. We work hard to keep our clients in compliance with rules and regulations governing your company sponsored retirement plan, however, it is the responsibility of your payroll team and/or payroll provider to submit correct and accurate files. Prior to transmitting the file to us, please make sure to complete this contribution checklist. You do not need to send the completed checklist to, us rather, you can retain the completed checklist for your own records.
- Verify the last name, first name and middle initial are each in a separate column and all spelling is correct. * The name listed in the file will overwrite the current information we have in our system. To keep accurate records, this data needs to be correct on all files submitted.
- Confirm the middle initial is only one letter with no punctuation following
- “NA” for not applicable is not a valid entry. If something is not applicable, please leave the cell(s) blank.
- Confirm contribution amounts are entered and formatted correctly. The correct format is an entry not containing formulas and rounded to two decimal places. *Pursuant to industry standards, formulas are rounded to two decimal places when processed. If the cell is not formatted as indicated above, this may lead to rounding errors and incorrect contributions.
- Confirm the loan amounts are entered and formatted correctly. The correct format is an entry not containing formulas, and rounded to two decimal places. * Pursuant to industry standards, formulas are rounded to two decimal places when processed. This may lead to rounding errors.
- Confirm the street address, city, state and zip are correct and each in separate columns. * The address listed in the file will overwrite the current information we have in our system. To keep accurate records this data needs to be correct on all files submitted.
- A participant may be entered only once in the spreadsheet. Each participant is identified in the contribution file by social security number. The same social security number cannot be entered more than once in the contribution file. * If a participant is listed more than once, information will not be pulled in, therefore will not reflect accurately for annual reporting. *Contact LRS if you need to correct a past or current participant contribution.
- Confirm the hire date, birth date, and release termination date are correctly formatted as mm/dd/yyyy. If an employee is newly hired or terminated, please make sure to add the applicable date so we can make the necessary updated in our systems and produce accurate reporting.
- Upload the payroll contribution file via your secure site at https://www.leadingretirement.com/secure
- Confirm that the total contribution amount on the contribution file matches the amount entered in the “Total Contribution Field” on the secure portal.
- Complete all required fields and submit the file! You will receive confirmation of receipt of the file, by LRS, via email within one business day. If you have a situation requires communication outside of the specifications detailed herein please contact us, first. We are here to help!
Leading Retirement Solutions
(206) 430-5084 phone
(800) 974-2814 (toll free)
Our mission: to proactively support organizations and lead them toward a secure future.