Monday, March 25, 2024

Coming soon: Easier access to forfeiture and suspense accounts

Payroll management is a top priority, so we’re making it easier to use forfeiture and suspense accounts to fund employer contributions through the plan website. Soon, you’ll be able to:
  • Quickly access the Forfeiture and Suspense report on the plan website to determine balances available for use.
  • View your options and use these funds at the point of payroll management, simplifying your day-to-day tasks.
When using forfeiture and/or suspense account balances to offset administrative costs or fund employer contributions, be sure to follow regulatory guidelines. Once available, we’ll share more information about ways to take advantage of these opportunities throughout the year. Contact your client service team with any questions about your plan’s options.