SFRP September 2023 Knowledge Check

Personal Identifiable Information (PII) cannot be released to callers, even if they are verified.

• True

• False

Answer explanation

This includes the following:

• - The last 4 of the bank account on file.

• - The Bank’s name on file.

• - Contact information on file.

• - Points will be deducted under Unacceptable behaviors.

• Exception: ER ID may be released for payroll purposes and IL is system generated.

A Payroll Representative can call in and obtain information even if their name is not on the account:

• True

• False

Answer explanation

As long as the Payroll Rep can confirm 3 pieces of information and identify the PP company they’re working with. It is the name of the company the one that shows under Payroll Provider section on the profile, not the specific names of the representatives, unlike the way it shows under the Delegate/Admin section.

If a call or email is received from one of our State Partners:

• CSR should reply right away.

• CSR should NOT reply to the email received.

• Email should be forwarded to [e-mail]

• CSR should reach out to Lead associate if unsure how to handle.

Answer explanation

Any emails/calls we handle that require the State's attention must be communicated to your manager immediately so we can pass onto the Relationship Manager. For more information on how to handle communications from State Office or Individual Partners, consult Panviva: https://futureplan.supportpoint.com/Node/Nw/Launch?opennwk=supportpoint://futureplan.supportpoint.com/Document/3299/-1/6780

Rollover out checks should be made payable to the other financial institution FBO (Saver’s name):  

• True

• False

Answer explanation

The reason why CSRs do not need to include “FBO (Saver’s name)” when processing a rollover out is because the Trust will automatically add it and it will create a double line entry and the checks will get returned.

What code should QB be using to send in contributions:

• CalSavers

• Retirement deduction savings plan

• IL Secure Choice

• Roth IRA

Exemption instructions (for other reasons such as company closed, etc.) can be sent via email to ERs:

• True

• False

If a CA ER has EEs in CA and out of the State:

• Only EEs that are reported in CA and receive CA wages need to be added.

• Only EEs that live in CA can be added.

• Only EEs who live in CA and receive CA wages need to be added.

• Out of State EEs can be added as well.

IL ERs can include EEs who are IL non-residents if they receive IL wages/pay IL taxes:

• True

• False

If an ER has Union workers then can exempt the business from offering SFRP:

• False

• True

Answer explanation

ER may have to reach out to Union to find out what type of plan EEs are being offered in order to complete the exemption process online.

What is the reason some check cashing places feel they can't cash a distribution check?

• It is drawn from an ZBA account.

• Many times tellers aren't familiar with this type of account and need to speak to a banker or manager.

• ZBA accounts are a way companies prevent fraud.