Appleby Posted December 23, 2018 Share Posted December 23, 2018 On 12/20/2018 at 10:32 AM, Bird said: I'm not sure I confirmed that, at least as something other than a marketing term. The conversation kind of bores me but I thought it was worthwhile to clarify for anyone following it. Anyone who isn't intimately familiar with qualified plans should understand that installing one of these plans can backfire big time if you don't know what you are doing, which applies to most of the people using or selling them. As a for instance, I can see a sponsor or broker checking a box for immediate eligibility ("of course - I want to be in this plan immediately") and not understanding that the second they hire someone to work even on a part time basis, not only do they have to make contributions for that person, but now have to file a 5500. The plan itself is a valid document and does not have to be rewritten, but other consequences are more severe. Good point. Well taken. 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...
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