Plan Info is where basic Plan Information is entered, and Services / Compliance Questions are answered.
Accessing Plan Info
- Access the Plan List screen by clicking Plan List in the navigation menu at the top of the page.
- Click on a Plan Name.
- Click the main menu icon in the upper left-hand corner next to the FirmPlus logo. The menu will slide in from the left.
- Click the Setup option toggle.
- Click Plan Configuration and then Plan Info in the expanded menu.
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Plan Info
Below is an overview of the input areas on the Plan Information screen.
- Plan Name - The name of your Plan. Will appear on Report cover pages.
- Record Keeper Plan ID - Used to identify plan data when importing using Branchnet
- Recordkeeper: The current Plan Recordkeeper.
- Provider Product - If available you can select the specific Provider Product Platform the plan is currently on.
- Custom Category - Allows you to categorize plans so that you can filter funds in Fund Management.
- Status - Moves the Plan to Active or Inactive Plan List.
- Type - The type of Plan.
- Actual / Eligible Participants - The current participant count for the plan.
- Participant Directed - Used in IPS document generation.
- Use Plan Advice Manager - Watch & Replace Rules allow you to automatically tag Funds to keep an eye on (Watch) or replace based on criteria you define. Simply select the metrics thresholds below and FirmPlus will automatically change the status when any fund within your plan(s) hit the threshold.
- LPL Account Number - Your LPL Account Number.
- Plan Services Offered Through: Through which relationship are Plan Services being provided.
- Review Frequency: Used in IPS document generation.
- Fiduciary Status: Determines the Services and Compliance Questions available for the Plan.
- Scoring Methodology: Determines which Scoring Methodology is applied to the Plan
- Score Weighting: Activates Score Weighting for the Plan.
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Services
Based on the Fiduciary Status setting chosen for the Plan there will be a list of Services Questions to be answered. Entering this information eliminates the need for you to fill out the paper compliance forms and will allow you to do Activity Reporting for the Plan Sponsor.
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Compliance
Based on the Fiduciary Status setting chosen for the Plan there will be a list of Compliance Questions to be answered. Entering this information eliminates the need for you to fill out the paper compliance forms and will allow you to do Activity Reporting for the Plan Sponsor.