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Showing content with the highest reputation on 01/03/2017 in Posts

  1. 1. Can a QDRO be changed? Yes, but it's your responsibility (and cost) to get it done, through the court. Your ex-husband will (probably) get a voice in this. Talk to your attorney. 2. Is this a defined benefit plan? If so, saying "drawing no interest" is irrelevant because there is no individual account. If it's a defined contribution plan, then his account has (probably) been split into 2 accounts, so your portion is invested in some manner so that it can grow over time. If you don't know, ask.
    2 points
  2. Read The Fantastic Document? Sure :-)
    1 point
  3. In the beginning, God created the heavens and the earth... Oh, my apologies; that is for bible study. Plans must be operated pursuant to their 'written documents'. That's Section 401(a)(1) of the Internal Revenue Code; which is like Chapter 1, Verse 1 of everything we know. I cannot even fathom a situation where verbal communication would supersede the written language in the plan. I think that was Kevin C's point. Documents are, generally, written to address the time frame for the calculation while leaving the deposit timing open. For instance, a match this is calculated using compensation and deferrals during a payroll period is just that; a calculation that is performed for a certain time frame. It says nothing about the deposit timing; or that you have until the tax filing deadline for a deduction. Now, if it is a Safe Harbor Match, then there are some deposit timing issues for the match that is done more frequently than the plan year. (like end of the following quarter). I say this to reemphasize what many of us have been saying for the longest.... RTFD. I'm not saying it with any emotion, but it's just that the answers are there over 99% of the time. Now, there are instances where language in the plan may be tricky (e.g. timing of calculation vs. timing of deposits), but we can work through that. We must first agree, however, that only one thing trumps the plan document; and that's the Treasury Regulations; not the spoken words of an owner. Good Luck!
    1 point
  4. Looks like someone is really cranky. A CEO who regularly makes false promises ends up with a company full of disgruntled employees. However, the transcript of the CEO's comments is irrelevant to the operation of the plan unless they have really bizarre document wording that makes verbal comments of the CEO part of the plan document.
    1 point
  5. It does not because there is no distribution. There is a plan to plan transfer. So, on the final Form 5500 of the transferred plan will have a zero ending balance with the transferred out amount completed. Good Luck!
    1 point
  6. Verbal communication does not supercede the plan document unless the plan document says it does.
    1 point
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