austin3515 Posted July 21, 2016 Share Posted July 21, 2016 Getting a good question from an auditor about our loan provisions. Admittedly they don't fit well with the TIAA-CREF bazaaro loan policies. Anyone have any thoughts on how to handle? "Participant directed" election includes a statement in the loan program that all loan payments will be applied to participant accounts. If I don't check that box it says loan payments will be applied as earnings to the general trust fund. Maybe I just edit that and say it's applied to the TIAA TRaditional Account. Anyone run into this before? Austin Powers, CPA, QPA, ERPA Link to comment Share on other sites More sharing options...
Peter Gulia Posted July 22, 2016 Share Posted July 22, 2016 While I express no suggestion, the hyperlink below leads to one publisher's description of the problem.http://www.businessofbenefits.com/2016/07/articles/uncategorized/403b-policy-loans-continued-form-5500-reporting-problem/ Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now