Listing Key Employees

Define the criteria that the report uses to determine which employees are key, and then run the report to list employees who meet those criteria. Once you have identified the key employees, set the Key Employee field on the Plan Test tab of Employee (HR11.1). This information is used when you run the Top Heavy Report (BN310). Determining if Defined Contribution Plans are Top Heavy

Before running this report, identify all officers and owners of the company by setting the appropriate fields on the Plan Test tab of Employee (HR11.1). Only employees with officer or owner designation will be considered for this report.

To list key employees

  1. Access Key Employees (BN300).
    Note: The application does not use the annual salary from the Pay subform on Employee (HR11.1) to determine compensation. Rather the application uses payroll history for the dates designated.
  2. In the Parameters section, use the following guidelines to enter field values:
    Plan Start Date

    Type the plan's start date. The application uses payroll records for the twelve month period beginning on this date to determine actual employee compensation. This is a required field.

    Officer: Compensation

    Type the minimum compensation an officer must have received to be included as a key employee. Only officers whose compensation is equal to or greater than this amount for the period identified are included on the report. If you leave this field blank, all employees designated as officers will be included.

    Owner: Compensation 1

    Type a compensation amount to identify owners as key employees who own the largest interest in the company. All employees identified as owners are included on the report, but only owners whose compensation is equal to or greater than this amount for the period identified are listed as owning the largest interest in the company.

    Owner: Compensation 2

    Type the minimum compensation an owner must have received to be included as a key employee. All employees identified as owners are included on the report, but owners whose compensation is equal to or greater than this amount are identified as key employees.

  3. Select the Add form function.
  4. Submit the report.
  5. Access Employee (HR11.1) and set the Key Employee field flag on the Plan Test tab for each key employee identified from the report.