KoolLady4 Posted June 8, 2018 Share Posted June 8, 2018 Plan assets at BOY are 1,855,000. If the client has a bond with inflation guard, should I be reporting $185,500 coverage on 10(c)? Link to comment Share on other sites More sharing options...
ETA Consulting LLC Posted June 8, 2018 Share Posted June 8, 2018 Yes. Good Luck! CPC, QPA, QKA, TGPC, ERPA Link to comment Share on other sites More sharing options...
Bri Posted June 8, 2018 Share Posted June 8, 2018 Does everyone bring the dollar amount of the bond out to the nearest 10% dollar, then? I always wondered if the DOL looks and says, "Wow, a bond for $185,234...." Link to comment Share on other sites More sharing options...
RatherBeGolfing Posted June 8, 2018 Share Posted June 8, 2018 The DOL is aware that many have inflation guards so it really doesn't look that weird. I do 10% rounded up. $800,555 in assets become $80,056 in order to avoid my admin software warning that the bond is not 10% If I leave it at $80,055. 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