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hurray for pension humor!

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'Bout time Dave!

I am sure we all have some amusing pension stories.

Once I took a call from someone asking for help regarding a new comparability/cross tested plan- If I recall, it was whether the plan passed testing. The plan was for a lawyer and his employees.

Upon 'prying' for more info, I discovered the allocation used $500,000 (or some obnoxious figure) in comp for the lawyer. I told the person you can't do that but the individual insisted the lawyer knew what he was doing. (I suppose that in itself is a funny thought)

I asked the individual just how are they going to answer the question of the 5500, 'was comp limited to 150,000'?

The response was that the filing would be a 5500-R for the current year, and that question does not appear on the 5500-R, so you don't have to worry about it.

Can't argue with that logic can you? I am still laughung inside over that one.

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