July Knowledge Check

EE called in to check status of ACH WD 07/01/2024, you see bank hold with expected release date of 07/15/2024. When should EE expect to receive check?

• 07/15/2024

• 7-10 bd from 07/15/2024

• 3-5 bd from 07/15/2024

• 15 Calendar days

Answer explanation

Panviva link for holds: https://futureplan.supportpoint.com/Viewer/Viewer/Document/4681#1

CA ER called in regarding enforcement received, He no longer has 5 ee’s this year but had 5 ee’s last year. He currently has only 2 EE’s and believes he is exempt. (Select all that apply)

• ER must still facilitate and only add current EE’s

• ER can dispute with state and follow SOP does not meet minimum EE count.

• ER must Facilitate law change now applies to 1 or more EE.

Answer explanation

EE count dispute with CA state treasure is if ER was the only EE. Since ER currently has 2 he must facilitate. IL EE count is still 5 or more so they can dispute if less then 5 EE’s.

Which types of accounts can be rolled into a Roth IRA? (select all that apply)

• Roth IRA, 401(K), 403(B), Simple IRA

• Roth IRA, 401(K), 403(B)

• Roth IRA, 401(K)

• Roth IRA only

If an EE CI stating the bank will not cash their check because there are no funds, what should the CSR do?

• Advise EE of ZBA account

• Follow the Stop and Re-issue process

• Follow the Check Fraud process

• None of the above

Answer explanation

A ZBA ACCOUNT : The funds come from a ZBA account (Zero Balance Account) and most tellers don't know what that is.

https://futureplan.supportpoint.com/Viewer/Viewer/Document/4685

When processing a transfer, what should be put in the payee field?

• AO Name

• Account number

• Receiving Firm name

• Receiving firm name FBO AO Name

• None of the above

Answer explanation

When the transfer is completed the payable to will automatically populate a “Receiving firm name FBO AO Name”

What is required if a caller from CalSavers wants to remove the main contact but the main contact is not on the line?

• Advise caller to change online

• Make the change for caller

• Have caller send signed LOI

• All of the above

Answer explanation

Contact information can only be changed over the phone if the main contact person is on the line. Otherwise, they will need to send signed LOI. (Wet signature) docusign not allowed.

If an ER/Del is wanting to backdate contributions for 2023, they can do so by changing the date on the pay date when submitting contributions.

• True

• False

Answer explanation

Contributions for 2023 and later can no longer submit backdated contributions and will need to refund the EE’s

A CA ER calls in and is able to verify 3 pieces of information, we can provide their CA ER ID.

• True

• False

Answer explanation

ER must reach out to the EDD to request their CA payroll tax ID

What is the correct action if an EE CI's check is not cashed due to no funds?

• Advise EE of ZBA account

• Follow the Stop and Re-issue process

• Follow the Check Fraud process

• None of the above

EE CI to get a new contribution hold waived, what should the CSR do next? (select all that apply)

• Ask in Teams channel for it to be waived.

• All of the Above

• Email AR to get the hold waived for AO.

• Email lead Alias to waive the hold

• None of the above

Answer explanation

Contribution holds cannot be waived, under any circumstances.