Leaderboard

Since you are in the defined benefit board, I assume this is a DB plan? Will it be a traditional plan or a cash balance plan? Regarding your questions: 1) There is no "RMD for the un-vested portion". Assuming it is a traditional DB, you would just pay the Accrued Benefit in accordance with the MRDs once he becomes vested. Non-vested benefits are not subject to MRDs. 2) It looks like a number. Probably with 6 digits to the left of the decimal.

Under DOL or IRS rules, are any special procedures required when the participant or AP is incarcerated? Or is it OK to just proceed normally ignoring that fact?

I think the problem Lando keeps running into is the Plan accepting deferrals for employees of unrelated companies who are not participants of the Plan prior to them executing an amendment making them an adopting employer and what the proper fix is. And it seems to come back to, can it be corrected by amendment under SCP or does it need to be corrected by amendment under VCP given his set of facts?

You know, I applied the principle I've learned a long time ago and actually treated this as if it were my problem; check the plan document. Here's what I came up with. I looked through the language of the BPD I use for my plans, and it appears to address this issue. It says that should the employer use a definition of Compensation for Safe Harbor 401(k) that does not meet 414(s) for that year, then the Employer shall be deemed to have elected to use Total Compensation for that Year. It's an automatic safety that I never knew existed. This may help. Good Luck!

I agree with you. No audit for 2015.

Some recent news on the VEBA front which doesn't seem to appear in these boards: http://www.thinkadvisor.com/2015/02/18/fiduciaries-to-pay-39m-for-raiding-death-benefit-p https://www.courtlistener.com/opinion/2898304/odc-pet-v-john-j-koresko-v/

My read was that they are looking to suspend payments to the AP pending the return of forms signed by the AP. What could it have to do with the participant? The participant's entitlement, having been already reduced by the QDRO, should be entirely unencumbered, shouldn't it?

I may have the facts confused, but here's what I gather from your OP: 1) Plan Received DRO for amount (X) to be separated from participants account. 2) Plan Administrator Qualified DRO; now a QDRO for X amount. 3) Those funds, "X", have been separated from the participants account and are not longer reflected in the participant's account balance. Given 1, 2 and 3, your question is how long does the participant have to wait for receiving a distribution in light of something that is going on with the Alternate Payee. If my facts are correct, as stated, then the participant should be free to take a distribution under normal terms of the plan as it would appear the QDRO process (as it pertains to the participant) has been completed. Good Luck!