Full Version: church db plan
This is new area for us:
it appears to us a church plan is not exempt from erisa;but just title I of Erisa.
Is this correct?
Does this mean no 5500 is done?
Is actuarial valuation done?
Is there any 401a4 and 410b testing?
Stan
This is new area for us:
it appears to us a church plan is not exempt from erisa;but just title I of Erisa.
Is this correct? NO
Does this mean no 5500 is done? YES (UNLESS PLAN HAS ELECTED ERISA COVERAGE)
Is actuarial valuation done? NOT PER ERISA OR INTERNAL REVENUE CODE
Is there any 401a4 and 410b testing? GO TO SECTION 410(d) OF THE INTERNAL REVENUE CODE TO FIND OUT WHAT QUALIFICATION RULES DO NOT APPLY TO A NON-ELECTING CHURCH PLAN (AND YOU WILL ALSO NOTE THAT A COUPLE OF PRE-ERISA PROVISIONS OF THE CODE DO APPLY TO NON-ELECTING CHURCH PLANS)
Stan
it appears to us a church plan is not exempt from erisa;but just title I of Erisa.
Is this correct? NO
Does this mean no 5500 is done? YES (UNLESS PLAN HAS ELECTED ERISA COVERAGE)
Is actuarial valuation done? NOT PER ERISA OR INTERNAL REVENUE CODE
Is there any 401a4 and 410b testing? GO TO SECTION 410(d) OF THE INTERNAL REVENUE CODE TO FIND OUT WHAT QUALIFICATION RULES DO NOT APPLY TO A NON-ELECTING CHURCH PLAN (AND YOU WILL ALSO NOTE THAT A COUPLE OF PRE-ERISA PROVISIONS OF THE CODE DO APPLY TO NON-ELECTING CHURCH PLANS)
Stan
QUOTE (jpod @ Jun 23 2009, 05:42 PM) 
This is new area for us:
it appears to us a church plan is not exempt from erisa;but just title I of Erisa.
Is this correct? NO
Does this mean no 5500 is done? YES (UNLESS PLAN HAS ELECTED ERISA COVERAGE)
Is actuarial valuation done? NOT PER ERISA OR INTERNAL REVENUE CODE
Is there any 401a4 and 410b testing? GO TO SECTION 410(d) OF THE INTERNAL REVENUE CODE TO FIND OUT WHAT QUALIFICATION RULES DO NOT APPLY TO A NON-ELECTING CHURCH PLAN (AND YOU WILL ALSO NOTE THAT A COUPLE OF PRE-ERISA PROVISIONS OF THE CODE DO APPLY TO NON-ELECTING CHURCH PLANS)
Stan
it appears to us a church plan is not exempt from erisa;but just title I of Erisa.
Is this correct? NO
Does this mean no 5500 is done? YES (UNLESS PLAN HAS ELECTED ERISA COVERAGE)
Is actuarial valuation done? NOT PER ERISA OR INTERNAL REVENUE CODE
Is there any 401a4 and 410b testing? GO TO SECTION 410(d) OF THE INTERNAL REVENUE CODE TO FIND OUT WHAT QUALIFICATION RULES DO NOT APPLY TO A NON-ELECTING CHURCH PLAN (AND YOU WILL ALSO NOTE THAT A COUPLE OF PRE-ERISA PROVISIONS OF THE CODE DO APPLY TO NON-ELECTING CHURCH PLANS)
Stan
Am I an optimist in thinking a church db is easier to administer than an erisa db?
and why?
thanks
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