Gary Lesser Posted January 23, 2007 Report Share Posted January 23, 2007 Does anyone know whether the IRS is allowing SEP prototypes to provide for immediate eligibility of existing employees (assume there is only one, the owner) of a new employer, and for future employees to satisfy a three-year service requirement? I've heard that the IRS is "no longer" allowing such provisions (but a few may have gotten through). All comments appreciated. The SEP-LRM (attached) does NOT provide for such a provision. sep_lrm_2_2002.pdf Link to comment Share on other sites More sharing options...
Gary Lesser Posted January 31, 2007 Author Report Share Posted January 31, 2007 Surely, someone has some documents they could look at and report back on! Link to comment Share on other sites More sharing options...
Belgarath Posted January 31, 2007 Report Share Posted January 31, 2007 Sorry Gary, I'd love to help if I could, but we never sponsored a SEP prototype. I will say that most of the SEP prototypes that I've actually seen, and that isn't very many, are nearly identical to the IRS Model SEP except that they allow for maintaining another plan at the same time. [THXs for checking.---GL] Link to comment Share on other sites More sharing options...
Appleby Posted February 9, 2007 Report Share Posted February 9, 2007 The Pershing Prototype SEP provides such as option. I will try to get a copy Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com Link to comment Share on other sites More sharing options...
Gary Lesser Posted February 14, 2007 Author Report Share Posted February 14, 2007 Indeed it does. I've attached a PDF of Pershing's SEP Adoption Agreement. Pershing_Prot_with_Immediate_Elig_4_Current_Es.pdf Link to comment Share on other sites More sharing options...
jevd Posted February 14, 2007 Report Share Posted February 14, 2007 Indeed it does. I've attached a PDF of Pershing's SEP Adoption Agreement. Gary, Did you happen to see if they post a copy of the IRS approval letter for this prototype? JEVD Making the complex understandable. Link to comment Share on other sites More sharing options...
Gary Lesser Posted October 18, 2007 Author Report Share Posted October 18, 2007 Approval letter found - pdf attached (the dates (1/2003) seem to match). Has anyone found any other examples of dual eligibility? Pershing_SEP_Opinion_Letter.pdf Link to comment Share on other sites More sharing options...
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