Case Study: Working with Non-Audited Plans in 401kFiduciaryOptimizer

The Ask

The 401kFiduciaryOptimizer is a great tool to analyze 401(k) plans, but it works mostly with audited plans with a Schedule H (Schedule of Assets) attached to their most recent form 5500. But does it really mean that there is no way we can analyze non-audited plans considered for less than 100 participants?

The Problem

Well, technically speaking, the system will not show any smaller plans on the Plan Screener page if they’re not audited. Simply because it can’t operate with data, which is not made publicly available. But if you’re in good relations with a plan sponsor, or if you could get hold of their plan assets for any other reason, it’s very easy to make a custom analysis report out of it. Of course, you can send the spreadsheet to our Support Team, and they’ll be glad to assist you, otherwise it can be done on your end.

The Solution

After you’ve received the list of holdings and weights from your client, you’ll need to create an excel file in the following format: Column A for the tickers; Column B for the weights:

After you save it, you can utilize this file by uploading it to your 401kFiduciaryOptimizer account. In order to do that, you should go to the Edit Plan section:

On the Load Plan page you can either upload the whole plan from the spreadsheet or add funds one by one.

To upload the whole line-up from the file, you should:

  1. Enter the name of the plan you’re uploading
  2. Click on the Browse button and locate excel file on your computer to upload it
  3. Hit Next to double-check and finish the loading process:

After the plan is loaded, the system will automatically provide you with a thorough analysis on potential savings, diversification and performance that you can print out immediately, the same way you can print out a report for any publicly available plan.

But what if you don’t know the tickers or would like to upload a custom plan without creating an excel file? You can easily do that by adding funds one by one. To do that you need to:

  1. Give a custom name to the plan
  2. Start typing some words or the whole name of the fund you’d like to be added
  3. Pick the one you were looking for from the drop-down list. Do the same thing for all the other funds you want to be added
  4. Click Next and specify the weight for each fund you’ve added (if you’re not sure about the value, the system will automatically set them equal 100,000 by default) and save it:

Watch more on 401kFiduciaryOptimizer below and be sure to request your free personalized demo to explore the full potential of this unique online tool in order help you grow your 401k Business:

 

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