Deferred compensation account changed from shares basis to lump sum dollar amount basis

jb-jmd8353215 Member
edited July 2022 in Investing (Windows)
I tried to research this issue but could not find this. I have a deferred comp account that initially sents statements with contributions, shares purchased, price per share on the purchases, total share balance and total account balance. They changed the statements to cash/transfers in/out, dividends, market fluctuation and ending (dollar) balance. I had tracked in quicken by transferring from paycheck to the def. comp. account, to the individual funds. I cannot figure out how to convert the tracking to more of a cash basis from the share basis. If anyone can point me in the right direction, much appreciated! Using Windows Premier, R41.10.


  • @jb-jmd8353215 - do you have access to your deferred compensation plan online?  If so, check there for shares.  Also, if you have an account online, are you able to download transactions?

    What type of investments do you have?
  • I did check the online site and was able to find they do have current share balances but of course not going back to the date of the change. The site has never had a download function to my knowledge. There have been a whole bunch of changes in the funds available, and currently I believe there may be only T Rowe Price funds available, previously it had several Vanguard funds and Fidelity funds.
  • [Deleted User]
    edited June 2022
    @jb-jmd8353215 - It sounds like your plan provider changed the statement format where they are no longer showing shares.  It also sounds like you use your statements and the "401(k) Update Wizard" to update your deferred comp plan on Quicken.

    Some questions:

    What type of deferred comp plan do you have? (401(k), 403(b), Profit Sharing, Pension, Non-Qualified, etc)
    Who is your plan provider?
    How long have you been in the plan?

    Just asking because there might be better ways to update this information into Quicken. 

  • I had not been using the wizard, I had used a holding account for the paycheck total amount and then transferred to individual fund accounts when I got statements. It’s a 457b and T Rowe Price is the plan administrator. The account goes back to (wait for it…) 1991 but the problem doesn’t go back that far. Long story short I finally have the time to straighten out my Quicken accounts to actually reflect a correct net worth. I’ve got the temporary ‘accumulation’ account and several mutual fund accounts but have not been able to figure out an approach to get them to reflect the current account.
    I appreciate your input!
  • Ok I think I understand now.  Your 457b account has been around since the "Balance Forward" days before daily valuation.  That is probably why you are used to using your quarterly statements to input activity into Quicken. 

    How is your 457b account set up in Quicken now - what account type is it?
    Are there funds set up?
    How do you get your contribution transactions into the account?
    How do you reflect other transactions?

    I found a financial institution on Quicken called "T Rowe Price Retirement Plans".  I think you mentioned that you have an online account at TRP.  I would give them a call and explain your situation and ask them where to get share and transactional information, and if that information is downloadable to Quicken, and what you need to do to get that started.
    That is a start.  Let me know what they say.

  • It’s set up as a tax deferred account. I have a ‘holding’ account for the total deferral amount and when statements came I would transfer specific amounts into the individual mutual fund accounts, using a buy and transfer from the holding into, say a Fidelity Puritan account I had also set up. Then also enter a reinvest entry for any dividends and an entry for market fluctuation, so ultimately the balance in the fund account in Quicken matched the fund balance per my statement.
  • @jb-jmd8353215 - have you been able to connect with TRP and confirm if you plan can connect with Quicken? 

    That is just one possible solution.  The ultimate solution depend on what you would be most comfortable with in the long run. 

    The easiest fix, but not necessarily the most correct, would be to create new "dollar par" funds so you won't need to worry about units.  Then you would need to do a transfer from "old" to "new" funds, for each fund you have.  How many funds do you have?

    On the other end of the spectrum, once you get confirmation from TRP that you plan can connect with Quicken, the plan and the funds would be set up in Quicken with online services.  You would need to determine a good starting point for the "new" plan.  It would probably be at the point you were last able to reconcile with a statement with shares.  This way, the "new" plan will start with good fund balances with shares.

  • I’ve sent an email but don’t have much hope, since TRP is being replaced as administrator for the plan. There have been probably a dozen funds involved. I don’t think the site has capabilities to download to Quicken although maybe I haven’t investigated enough. I did find the option to download from the site but it goes to Excel and is limited to the previous 12 months which does not help solve the issue I have. In playing with other accounts I ran into the problem where transfers from a paycheck into a different tax deferred account started resulting in a cash balance within the mutual fund account. If I could duplicate that maybe I could end up with an account where the total would match statements. That would be acceptable in lieu of continuing what I had been doing. Guess I shouldn’t have been so busy working and dealing with life in general…
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