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Exclude one LLC Partner from Permitted Disparity


PMZJohn

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5 hours ago, Dave Baker said:

Ed, you're one of the very most valuable contributors to our community -- 236 upvotes by your peers and 2,386 posts. Congratulations, and thank you!

We are a community of many people so there are going to be differences in style that come across to the receiver as annoying or even rude.

I once read that one out of 10 people can hardly to stand to be around us -- so I try to admire the 9 out of 10 with obviously good judgment and let go of trying to please the 10th one (though I wonder who you are!).

I think of Larry (who also is one of the most prolific and valuable contributors on the message boards) as one of the long poles in the pension industry circus tent -- or maybe the grizzled chief petty officer on the navy's biggest carrier, who's seen pretty much everything and sometimes barks out orders but you give him wide berth because he's almost always right and he's not in the mood to chat. I've never seen a criticism that wasn't backed up by experience or citations -- so by getting to the point and lobbing in a comment he may be doing a tremendous service, especially if it turns out that some kind of liability-causing mistake is avoided, or some kind of money-making opportunity turns out to be the result. He's particularly willing to take his valuable time to get down into the weeds on a particular poster's factual situation, rather than contributing only some citation or general principle.

I always give thanks for a griping customer, because he's probably giving me some valuable information that a dozen others are thinking but haven't written to me about.

Anyway, I know there are passions (I actually have quite a problem with my own temper and sensitivity), and that it can take real effort to refrain from name-calling, and people might even be more sensitive to it nowadays given that one can turn on pretty much any national media and hear non-stop name calling and snarkiness. We also have visitors who aren't used to seeing the rigorous give-and-take that sometimes happens in a message thread, and we don't want to run off those who might be particularly conflict-avoidant. One such visitor and potential message board contributor wrote to me yesterday and politely complained.

Because I believe it's important that a community regulate itself and not have some political correctness censor hanging overhead, I edit messages only rarely, where there is a name called or some kind of profanity -- everything else is fair game, including being frank and critical. But everybody must remember the public is watching, reputations are important, people are a whole lot more tender than generally assumed, and the point of everybody being here is to exchange questions and answers so that the plan participants get what they're supposed to and our employer-customers get the best and most accurate service. There are going to be sparks and loud squeaks as the big wheels turn, but we're all on the same train heading in the same direction.

<End of sermon>

Thanks again, Ed, Larry, and everybody!

Thank you David; much appreciated right now.

Interestingly, I went back and found the offending comment; here it is:

It's all or none.  You cannot 'elect' out of a 'nonelective' contribution; especially when the plan has a uniform allocation formula.

Good Luck!

"Sorry, but that's just not true.  You can't have the participant elect, but you can have the employer "elect" by a proper plan amendment."

I think that is a pretty tame comment, but each reads things in their own way.  

Peace to all; especially today.

Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC
President
Qualified Plan Consultants, Inc.
46 Daggett Drive
West Springfield, MA 01089
413-736-2066
larrystarr@qpc-inc.com

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