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1) I have just logged in. Why can't
I access a roster from the Roster Selection page?
If it is your first log on, you must click on the New Roster button, to create a roster. Once you click on the New Roster button, all participants that are part of the plan will be listed with their social security numbers. Enter the dollar amounts for each contribution type for each participant. To update a participant's allocations, click on the participant name. This will bring you to the Shareholder Allocation page, listing all fund/accounts for that participant. You can update the dollar or percentage allocations for each contribution type here. Please be sure to submit both Employer and Salary Reduction percentages. If you prefer to enter dollar amounts, the system will calculate the percentage information. If the allocation percentages do not change, you can submit future contributions by just going into the Roster Details page and entering new dollar amounts for each participant.
If your plan frequently elects different fund allocations,
you will want to go into the Shareholder Allocations screen
to ensure that the intended funds are being credited properly.
2) I clicked on New Roster and received an Online Transaction Error stating "No shareholders were added to roster." How do I add shareholders to a roster?
For a shareholder to be added to a roster, allocations must be assigned to each shareholder on the Plan Details page, prior to creating a roster. Assigning allocations to the shareholders will automatically add the shareholders to the roster. Once this has been completed, you will be able to click on New Roster, and access the Roster Details page. Please refer to the User Guide for further details on assigning allocations to shareholders/participants.
3) How do I add a new participant to the plan?
New participants will have to complete a MFS Simple IRA application and submit it to MFS. Once an application is received in good order, the new participant will appear on the Plan Details page. The new participant will show up on the Roster Details page only when you create a new roster. The new participant will need to be manually added to a Work-in-Progress roster by clicking on the Add Shareholders button.
4) How do I delete a participant from the plan?
To delete a participant from the plan, contact MFS Retirement Plans at 1-800-637-5104 or send a written request to MFS including the participant's name, social security number and account numbers.
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5) Can I add new funds to a participant?
Yes, you can add new funds to your existing plan. You will be able to open funds in the share class the participant has in their current portfolio.
6) I logged in last week, but it appears my roster was not processed. Why?
In order for an allocation to be processed, you must hit the SUBMIT ROSTER button on the Roster Details page. After doing this, you will be brought to the Submit Roster Verification page, to confirm the roster submission. You need to click on the CONFIRM button in order to complete the roster submission. If you do not click on CONFIRM, the roster will not be submitted and it will remain in a WORK-IN-PROGRESS status. Once you click on CONFIRM, you will be brought to the Submit Roster Confirmation page. Rosters that are in the WORK-IN-PROGRESS status can be edited at anytime and then submitted to MFS.
7) Where can I find definitions for all the different plan statuses?
For a complete breakdown of definitions and explanations on Contribution Direct features, please see the HELP page, accessible from all Contribution Direct pages.
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8) My bank account has changed. Can I still submit my plan allocations through Contribution Direct?
Yes, but your banking information must be updated prior to your submission. Please send us new banking instructions, either through our Contribution Direct Enrollment/Change form or in a letter of instruction. Make sure to include a copy of a voided check or pre-printed deposit slip. Rosters that are submitted with outdated banking information will not be honored.
9) How will I recognize the ACH draft for my roster submission on my bank statement?
The ACH draft will be posted to your bank statement as: GPURCHRSTR INVESTMENT.
10)
The system is not allowing me to make a submission because one of the accounts has a stop purchase on it. What does this mean?
A stop purchase is added specifically to prevent additional funds from entering an account. It is frequently applied when a participant alerts MFS that they wish for their future contributions to reflect a change in allocation, and have not yet alerted the plan of this change. Participants are instructed to call their employer/plan administrator to change their individual allocation for all future contributions. A stop purchase may be removed with a phone call from the shareowner, representative, or plan administrator to MFS Retirement Plans at 1-800-637-5104..
11)
What trade date will I receive when I submit an allocation? Can I make a submission at any time?
MFS will price your contribution using the first available trade date following the submission. The net asset value (or price) of each fund for all classes of shares is determined at the close of regular trading every day that the New York Stock Exchange is open. This is generally 4:00 PM Eastern Standard Time (EST). This time may change due to NYSE holidays or unforeseen circumstances. If your submission is received prior to 4:00 PM EST, it will receive a trade date of that day. Items submitted after 4:00 PM EST will be priced the following business day. Rosters may be submitted at any time, and the trade date will be applied accordingly.
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12) I changed allocations the last time that I submitted a roster; however, they did not update for the next roster. How do I change allocations for all future rosters?
If you want to change allocations for all future rosters, you must update the changes on the Shareholder Allocation page. Changes made on the Roster Details page will only be effective for that roster.
13) Can I sort the participants of the plan by name or social security number (SSN)?
On the Plan Details page and the Roster Details page, you are able to sort the list of participants by Name or by SSN. By clicking on the different column headings, you are able to sort the order of the participants, in ascending or descending order. If you click on the NAME heading, this will sort the participants by name. If you click on the SSN heading, this will sort the participants by their Social Security Numbers. On the Roster Selection page, you are able to sort the list of Rosters by the various column headings, as well.
14) I have submitted a roster with incorrect allocations; how can I delete this submission?
You can have a roster submission deleted by contacting MFS Retirement Plans at 1-800-637-5104 on the same day that the roster has been submitted. The phone call must be received prior to the close of regular trading at the New York Stock Exchange (NYSE), which is generally 4:00 PM Eastern Standard Time (EST). This time may change due to NYSE holidays or unforeseen circumstances.
15) I have been submitting rosters using the old Plan Administrator's logon information. Why do I need to submit a new enrollment form to update the User ID contact information?
MFSC requires this type of change in writing, for security purposes. If/When a Plan Administrator has changed it is critical that a new User ID be created for the new Plan Administrator, as we need to update the User ID information to reflect the new Plan Administrator's name, contact phone number and email address. The Plan Administrator's name is linked to the User ID. In the event a User ID's password needs to be reset, the password will default to the first 7 letters of the Plan Administrator's last name. Having the most updated information on our system will eliminate confusion and make resetting passwords more efficient. *** Under no circumstances should Plan Administrators share User IDs***
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16)
How do I change the contribution year on my roster?
On the Roster Details screen, you are able to code the roster for either Prior Year or Current Year contributions. This field is located at the top of the Roster Details screen, immediately following the Establishment Date. This field defaults to Current Year.
17)
How can I reset my password?
If you forget or if you have entered an invalid password three times you will be prompted to reset your password on the initial sign-in screen. You will need to click on the "reset password" link to initiate the process. You will be required to establish two security questions and verify the email address that MFS has on record for you in order to gain access to your plan information.
NOTE: If you password has been changed more than once in 7 days, your will need to continue to contact MFS.
18)
Can I pay for my contribution by check?
Yes. MFS Contribution Direct employs the Automated Clearing House (ACH) so that MFS can deduct the payment directly from your pre-designated bank account. This ensures that your allocations will be credited with the next available trade date while eliminating the need for postage and the chance of delayed, lost or misdirected checks. Please inform us immediately if you need to change your banking instructions.
However, if you believe that submitting a check is best for your plan you may submit a check with the screen print from the Roster Detail Screen in Contribution Direct with all roster submissions. If the two are not received together, the investment will be returned to you.
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* Any
further questions should be directed to MFS Retirement
Plans at 1-800-637-5104. All written correspondence should
be mailed to one of the following addresses:
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MFS Service
Center
P.O. BOX 219341
Kansas City
MO 64121-9341
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MFS Service
Center, Inc
Suite 219341
430 W 7th Street
Kansas City
MO 64105-1407
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