Comprehensive Non-Discrimination Testing System
LVComply is a complete non-discrimination testing system designed to perform all required tests under the Internal Revenue Code (IRC) including the Participation Test under §401(a)(26), the Coverage Tests under §410(b), the General Non-Discrimination Test under §401(a)(4), the Compensation Test under §414(s), the Average Deferral Percentage (ADP) Test under §401(k), the Average Contribution Percentage (ACP) Test under §401(a)(m), testing of non-profit organizations under §403(b), and the Top Heavy Test under §416. LVComply is completely menu driven with context-sensitive help, on-line documentation, and requires no programming by the user. Benefits, participation dates, retirement dates, highly compensated employee status (HCE/NHCE), and key employee status can be generated by LVComply, imported directly from a spreadsheet with our excel macro, or determined by our pension administrative system (LVAdmin) or pension valuation system (LVVal).
- Normalization of benefits to life annuity at retirement age
- Option to include permitted disparity
- Normal and most valuable accrual rates for defined benefit plans including early retirement subsidies
- Testing on either a contribution or benefit basis, including cross-testing.
- DC Gateway Test, DB/DC Gateway Test, Alternate Gateway tests and Primarily DB Test.
- Automatic plan restructuring. If the plan does not pass, it is then regrouped based on the permitted rounding rules
- Aggregation of up to 9 plans for testing, including the combining defined benefit plans with defined contribution plans
- All standard mortality tables prescribed by the regulations are provided. Any standard interest rate can be selected.
- Annual, projected, and accrued to date testing methods included
- Determination of required refunds under ADP/ACP testing
- Ability to select separate actuarial equivalence by plan.
- All standard mortality rates are included. The user can enter any non standard rates not included.
- Individual listing of normal and most valuable accrual rates for each employee with supporting data for ease in checking results.
- A table displaying the number of HCEs and NHCEs in each rate group with an option to list the participants in a specified group. The ratio percentage is displayed for each group and whether the group meets the midpoint or not.
- Summary report for all selected tests and whether the plan passes or fails each test.
- Additional information is provided to test the plan on a facts and circumstances basis should the plan not pass under plan restructuring and regrouping
- Census listing to verify input data.
- Individual listing of benefits and contributions used for determining the top heavy status of a plan with identification of key employees
- Individual listing of data used to determine HCE status and identification of HCEs
- Ability to create custom reports from detailed information stored in the database.