This session will highlight challenges to data collection during the onboarding of new clients, as well as appropriate timing to make those data requests. What data should be requested from the plan sponsor and how can the new provider work with other parties to obtain much of this information? Is different information required when changing providers for a cash balance plan? How can one determine when market value adjustments may be a factor? Best practices include assembling a data collection checklist and letters of instruction for these “takeover” plans, to streamline the process. In addition, this session will address: - Information to be collected as a result of legislation enacted since 2019 (records about long-term part-time employees, prior QBAD’s, CARES distributions and loans, RMD history, in-place elections to receive employer contributions on a Roth basis, emergency distributions, and PLESA accounts) - Collecting historical information about certain distributions, loans and Roth basis will continue, and information requests will be expanded as more providers conform their systems to SECURE 2.0.

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