Editing Plan Data

On the tab page Plan Data you can display and edit the business data for the plan. The displayed plan data largely reflects the system settings in the Customizing for Master Contract Management (FS-MCM). You can enter the settings needed for editing your plan in Customizing for Master Contract Management under Start of the navigation path Master Contract Next navigation step PDM Plan End of the navigation path .

In the Plan Data group box the system displays the plan type specified by the product and the contribution and distribution types of the plan that were set up. In addition to this plan data, you can define attributes in the contribution and distribution type that control processing. For more information, see Customizing for Master Contract Management under Start of the navigation path Master Contract Next navigation step PDM Plan Define Contribution Types End of the navigation path .

Contribution type attributes:

Reportable

Specifies whether contributions must be reported to the tax authorities or not.
Employee-sponsored

Identifies contributions that are employee-sponsored.
Returnable

Identifies excess contributions that can be withdrawn again from the plan without incurring tax.
Key date of the contribution payment

Specifies that contributions must be deposited within a tax year on a specified tax key date.

Only the attribute Liable for Tax is defined in the disbursement type. Specifies whether disbursements must be reported to the tax authorities or not. For more information, see Customizing for Master Contract Management under Start of the navigation path Master Contract Next navigation step PDM Plan Define Disbursement Types End of the navigation path .

Life expectancy tables are used for calculating the required minimum disbursements (RMDs) in “individual retirement accounts” (IRAs) in the USA.

The Allowed Contribution Types group box contains a list of all contribution types that can be selected from the plan type. The listed contribution types are checked according to certain check methods and monitoring rules. For more information, see Customizing for Master Contract Management under Start of the navigation path Master Contract Applications Next navigation step Payment Distribution and Monitoring Check Methods/Monitoring Rules End of the navigation path .

In the Tax Data group box, you use the No Tax checkbox to specify whether tax must be deducted for disbursements without a plan payment agreement.

In the Plan Indicators group box, you can set the following plan indicators when you create the plan:

Transition Plan
Inherited Plan
Plan Locked for Disbursements
Employee-sponsored

You use the plan indicators to classify locked contribution types for the plan. You can, for example, lock contribution types that are not from the employer or you lock certain contribution types of an inherited plan.

To define locked contribution types of a plan, you enter the required settings in Customizing for Master Contract Management under Start of the navigation path Master Contract Applications Next navigation step Payment Distribution and Monitoring Monitoring Rules Define Plan Indicators for each Contribution Type End of the navigation path . Distribution types can, so far, not be locked in this way.

You can change plan indicators providing the plan has not yet used the Active/Not Yet Used status, after which, it is no longer possible to change the plan indicators.

Prerequisites

Before you can display the plan data, the following conditions must be fulfilled:

You have defined a suitable master contract product and entered the required settings in Customizing for Master Contract Management under Product Management Product Definition Master Contract Products Create Master Contract Product .
You have entered the settings required for your plan in Customizing for Master Contract Management under Master Contract PDM Plan .

Procedure

Select one of the predefined contribution types for the plan type.
Select one of the predefined disbursement types for the plan type.
Use the No Tax checkbox to specify whether plan payments are liable to tax or not.
Select a life expectancy table.
Select the plan indicators.

If you have not defined an individual plan payment agreement for particular payment operations (such as one-time payments), the system uses the standard settings in points 1-3.

Result

You have edited a master contract that has the feature Payment Distribution and Monitoring.