ugh, minimum distibutions

[Tom Poje]

I forgot how nice it was not having to process these.

this is a first attempt to generate the minimum distributions out of report writer.

this is a summary of accounts report, the sources have been supressed, leaving only the totals per participant. then its coded to only pull those people who are 70.5 as of 12/31/2010.[its hard coded, so such fields would have to be updated each year, but as a reminder, it should give a warning message if plan year end is after that date]

if run for a plan year 1/1/2009 - 12/31/2009 it will take the ending balance and divide it by the proper factor to produce the min distribution. if person is active, it will indicate that min distrin is due 4/1/2011 if the person quites before 12/31/2010. I tried it and it did produce the same results as the 70 1/2 found under processing for 2 different large plans (each with around 30 possible min distributions) so it seems to be working, but of course use at your risk.

since it uses the 12/31/2009 balance it includes any receivables that have been run, which is optional for min distrib)

the report labeled 'all' lists all the possible min distributions

the other report produces a scaled down version of the text report that prints out of Relius (one person per page). no projection for future years, but since the system doesn't calculate any interest assumption, its probably not much of a loss anyway.

ok, maybe I don't show people who have no balance or min distribution due, but thats just me.

and I don't have it built into the report if spouse age is greater than 10 years. but I am lazy.

I think I have it pulling 5% owners correctly, but I haven't figured out how to pull owners due to attribution

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a reminder, if using Relius 70 1/2, if you don't manually enter the balance, you might have to

processing/ balance update / set trade date field / overwrite existing values so it pulls the correct ending balance.

[BG5150]

I'm probably one of the last people to ask, as I know almost nothing about creating reports. What I do gather, however, is that you are allowed to pull out different data elements (to borrow an OmniPoint word).

From the list of Database elements I have, there is something called HCEREASONCD. (it's in the table RPTEE)

The description is:

Indicates the reason an employee was determined to be a highly compensated

employee for the current plan year.N = not applicable; 0 = greater than 5 % owner in

current plan year; 1 = greater than 5% owner in prior plan year; 2 = compensation

greater than limit and member of top paid group; 3 = compensation greater than limit;

U = user entered override

So, you can maybe pull people with a value of either 1 or 2 for this field. People with indirect ownership are still considered HCE's under this, I would think.

However, this might not work for terminated people.

[Tom Poje]

I like the thought, though I guess it would be 0 or 1 for 5% owners - you wouldn't want to pull all HCEs, only 5% owners.

I had to teach myself how to create reports like this just to make my life easier and catch things I or others in the office could miss. The census report with all its little checks was a biggie.

I had never thought about doing min distrib before, but now that we are locked in on one table for the most part, it dawned on me the other day it should be fairly easy to create using that table. hadn't thought about using the HCE coding instead of the ownership %. I'll have to look at that

I don't like the Relius report because its a text file, if you select all it pulls people with 0, you mught have to update trade balances, of the goofy 10 year projection it shows, etc. as a side note, when first released, Relius plan specs had a field you could enter for an interest rate assumption. the 70 1/2 program actually was written to use that field, but looks like they never hooked it up, and then they later deleted the field off of plan specs.

BG5150 - looked at using the HCE code, it won't work on the one plan i looked at, spouse has 0% on her own but makes over 110,000 so shows as HCE reason because of comp, not attribution ownership

[Tom Poje]

I did try running the report for 'all plans' rather than a single plan. I think it took 21 minutes, (I can tell based on the time uindicated on the report) but that of course depends on how many plans on the data base, computer speed , etc. You save the reports to a file when you run all plans.

a different report is saved for each plan a min distrib might be due.

this was written for DC plans, so DB plans don't work because they don't have a balance, though cash balances plans are also pulled, but the info on the report makes no sense since you would have to pay out cash balance in an annuity rather than using factors.

[Tom Poje]

oops. I see I misspelled 'participant' on the min distribution 2010 report.

it says particpany