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Showing content with the highest reputation on 03/06/2017 in Posts

  1. BG5150

    Prior TPA Not Cooperating

    At one of my former companies, if a new TPA (or a new record keeper or even the client) wanted copies of work that was already sent to the client, we would have an hourly charge and postal costs (if mailed, obv.) for the retrieval and duplication of the material. The charge was higher for documents stored off-site. (This was before most things were kept electronically). Work was only delivered after invoice was paid. I see no problem with that practice, as long as the charges are reasonable (and ours were).
    4 points
  2. Legally, no you can not "terminate the plan as though it never existed"
    1 point
  3. NJ Mike

    New Plan Termination

    Can you terminate the salesperson?
    1 point
  4. if retirement benefits are the subject of good faith bargaining then that group is considered a separate plan for purposes of applying tests for coverage and nondiscrimination. you can continue under one plan (document, investment lineup, etc.) with different benefit structures but your document must be able to accommodate and be properly completed/amended. it may be simpler to set up a separate plan - and could be more expensive because now you have two sets of accounting, asset pools/investment expenses, 5500's etc., but there could also be savings if the plan had over 100 participants and needed an annual audit but then splits into two plans under 100 participants with no audit requirement.
    1 point
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