What is the Managed Account Program (MAP)?

What is the Managed Account Program (MAP)?

MAP Enroll allows iJoin to automatically map and re-allocate Plan Participants to the most suitable managed portfolio based on their current circumstances and from their information pulled from Relius. 

Within the iJoin Standard (Investment Paths) enrollment experience, Plans can choose the option of allowing participants to use the Manage It For Me path, which is the MAP offering for the Plan. Within this option, participants are allowed to voluntarily choose to participate in MAP at any time. When choosing MAP, the participant is automatically included in quarterly reallocations. For more information on setting up the Managed Accounts within the iJoin Standard (Investment Paths) experience, see Setup Investment Paths.

Within the Managed Account Recommendation enrollment experience, participants receive a MAP recommendation from which they have the ability to opt out of the Managed Account and move to the Choose Myself path, where they can select an allocation from the available investments in the plan.

MAP can be used for enrolling new employees and re-enrolling existing Participants. Re-enrollment of existing Participants can only be done strictly through a forced automatic re-enrollment with a 30 opt-out period. 

You are required to supply a re-enrollment notification to all existing Participants on the selected start day or 30 days prior to the specified deadline. This is the 30 day deadline by which Participants will need to go through the iJoin MAP Enrollment experience to either formally opt-in or opt-out of the managed account offering before being automatically reallocated to the most suitable fund. For more information on setting up the Managed Accounts within the Managed Account Recommendation experience, see Setup Investment Paths.

Note: iJoin does not provide the 30 notification / documentation to the Participants.

Enrollment Options for Participants within the Managed Account Recommendation Experience

When the Managed Account and Choose For Myself paths have been activated on the Plan, the Participants have the option on the Enrollment site to opt-in, opt-out or do nothing.

• If the Participant chooses to opt-in to the Managed Account Program, their balances / allocations will be automatically reallocated and placed in the appropriate managed portfolio based on their current circumstances.
• If the Participant opts-out of the Managed Account Program, they will be presented with the Choose Myself path where they will select their funds and allocations on the Enrollment site.
• If an existing Participant, (with balance / allocations) doesn't opt-in or opt-out of the Managed Account Program and chooses to do nothing, they will be automatically reallocated to the Managed Account Program following the 30 day opt-out period / date.

Automated Scheduled Tasks

When the Managed Account Program is setup and activated for the Plan, the program will automatically create two daily automated tasks:

• Managed Account Reallocation - This automated Scheduled Task will run daily to check and report status of which Participants have reached the Opt-Out deadline.
• Managed Account Auto Enrollment- This automated Scheduled Task will run each day to check and report a status of total count / which Participants were Auto Enrolled into the Managed Account Program. 

The schedule of the MAP automated tasks can be updated in Task Scheduling

Fund Setup in Relius

The MAP program requires the setup of the portfolios within the Plan wishing to use MAP. 

If you are using the five MATC LDIndex Targeted Return portfolios,  they must associated with the plan each having the 'Link to prospectus URL' values assigned. The investments are named and the URLs are setup in Relius exactly as listed below:

Note: Once the changes in Relius have been saved, a Plan Sync is required to pull the new investment information into iJoin to setup MAP. 

For more specific LDI Managed Fund setup information in Relius see Setup LDI Managed Funds

For more information on Plan Sync see Process a Plan and Participant Sync

For more information on Experience Type see What is Enrollment Experience Type?

Tasks & Notifications in Activity Monitor

When MAP Participant-directed activity occurs on the Enrollment site, (opt-in, opt-out) the Participant Enrollment report, Participant Opt-out report, Deferral Change report and or Beneficiary Change report are emailed to the Participant and to Plan contacts, or as designated by the Plan Notification settings.

The MAP completed tasks with statuses are viewed in Activity Monitor

For more information on Notification settings see Setup Notifications