Tom Poje Posted December 16, 2014 Share Posted December 16, 2014 for the SF they have added lines 5d(1) active begin of year 5d(2) active end of year 5e term < 100% vested Active Participant Information. Filers are now required to provide the total number of active participants at the beginning of the plan year and at the end of the plan year on both forms. •Terminated Participant Vesting Information. Form 5500-SF filers now must provide the number of participants that terminated employment during the plan year with accrued benefits that were not fully vested. for MEPs you will have to attach a schedule listing each company in the MEP as well as % of contribution. (well, for Relius I was able to create a Crystal report to generate that attachment) Link to comment Share on other sites More sharing options...
My 2 cents Posted December 17, 2014 Share Posted December 17, 2014 The draft 2014 5500 Schedule SB now requires the vested funding target and the total funding target for inactive participants in pay status and also for terminated vested participants with deferred benefits. Are there any enrolled actuaries out there who are including any non-vested benefits for inactive participants in the funding target (as opposed to treating all non-vested accrued benefits as forfeited as of the date of separation from service, or is there something else this is looking for)? When would the two columns (vested funding target and total funding target) show different values? Always check with your actuary first! Link to comment Share on other sites More sharing options...
My 2 cents Posted December 30, 2014 Share Posted December 30, 2014 Unless someone says something to the contrary, I will assume that the silence in response to my question above about portions of the funding target for inactives to be included in the total funding target column but not the in vested funding target column means that all enrolled actuaries will be reporting the same number in both columns. Wishing all a happy new year! Always check with your actuary first! Link to comment Share on other sites More sharing options...
Calavera Posted December 30, 2014 Share Posted December 30, 2014 Not sure but I think transferred out of plan who is not 100% vested yet could generate the difference. Link to comment Share on other sites More sharing options...
My 2 cents Posted December 30, 2014 Share Posted December 30, 2014 OK, I'll give you transfer to a status not eligible for ongoing accruals. If that's all there is, though, it doesn't quite seem worth changing the SB for! Always check with your actuary first! Link to comment Share on other sites More sharing options...
BeanCounterBlues Posted January 6, 2015 Share Posted January 6, 2015 "Active participants" - does this mean those who are deferring? Those who are receiving any kind of contribution? Those who are simply still employed (vs a terminated employee w/ account balance)? Thank you for any assistance. Link to comment Share on other sites More sharing options...
bevfair Posted January 7, 2015 Share Posted January 7, 2015 I also have questions on the 'active participant' definition. When is 'currently in employment'? During the plan year or just on the first and last day of the plan year, per questions 5d1 and 5d2? What about a current year terminated participants with a balance? Are they considered active at the beginning of the year and not at the end? I have two 2014 final forms to do and wanted to get them out before testing season hit. Thank you. Link to comment Share on other sites More sharing options...
Tom Poje Posted January 8, 2015 Author Share Posted January 8, 2015 The definition of active participant hasn't changed from prior years. the instructions indicate: For pension benefit plans, "participant" for this line means any individual who is included in one of the categories below. 1.Active participants (i.e., any individuals who are currently in employment covered by the plan and who are earning or retaining credited service under the plan). This includes any individuals who are eligible to elect to have the employer make payments under a Code section 401(k) qualified cash or deferred arrangement. Active participants also include any nonvested individuals who are earning or retaining credited service under the plan. This does not include (a) nonvested former employees who have incurred the break in service period specified in the plan or (b) former employees who have received a "cash-out" distribution or deemed distribution of their entire nonforfeitable accrued benefit. note: my special thanks to FT William, they already have the 2014 up and running, it was easy to copy the instructions and post here. Link to comment Share on other sites More sharing options...
BeanCounterBlues Posted January 8, 2015 Share Posted January 8, 2015 Thank you Tom, i was making it far more complex than I needed to. Appreciate your help. Link to comment Share on other sites More sharing options...
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