Why is it necessary to add compensation history for years prior to years I have processed in DB Compliance, and how do I do it? Why is it necessary to add compensation history for years prior to years I have processed in DB Compliance, and how do I do it?

Why is it necessary to add compensation history for years prior to years I have processed in DB Compliance, and how do I do it?

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For CB and DB plans, a 3-year statutory compensation history is essential for determining the correct IRC 415 final average compensation for highly compensated individuals, and for traditional DB plans with a definition of final average compensation in the plan’s benefit formula, all years of relevant pensionable compensation for every employee should be loaded to the system.

 

To upload compensation history, go to Module Options > Tools/Settings > History Uploads and select a file from your desktop in the example file format provided. Here are additional steps to help.

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