Leaderboard

I would agree that counsel should opine on the issue, but in the jurisdictions in which I'm licensed, a "legal separation" only settles "property" and possibly "custody" issues of the parties. It does not affect their status of being "married." Think of it this way - if either party subject to a "legal separation" order attempts to marry another, they are guilty of the crime of bigamy. Only a "divorce" (or "dissolution of marriage" - depending on jurisdiction) can render them "unmarried."

How about option three? 1. Issue the 1099-R from the plan 2. If it is participant directed, move the plan assets to a suspense account and use to offset future contributions. If a pooled account, the assets stay in the account. 3. The payment from the employer is a "contribution" to the plan for 2016. The end result is a 1099-R from the plan, the participant received the correct amount, and since we count it as a contribution, the plan is in the same position it would have been in had a distribution and contribution taken place

BenefitsLink invites you to register as a user of the message boards, so that you can help your colleagues and show off your expertise by posting a reply to someone's question, or by posting your own question. Each of your posts can include a hypertext link to your firm in the 'signature' line -- or you can even post a message anonymously by using a 'handle' rather than your real name. Also, as a registered user you'll have the ability to take advantage of certain functionality that will work only if you have "signed in." Only a registered user can sign in. Registration is easy and free! Here are step-by-step instructions, with screen shots. First, look for the "Sign Up" button that's near the top-right corner of the page you're now viewing. (Click on any of these screens to see a larger version.) Once you click on the "Sign Up" button, you'll get this screen: The "Display Name" is what appears as your identity next to any messages you post. Some users choose a "handle" because they can post anonymously, but others prefer to use their real names for various reasons, such as reputation-building, credibility and social interaction. BenefitsLink encourages the use of real names, but feel free to do whichever is most comfortable for you. Next you'll enter your email address (twice). We use this email address to send you a confirmation email. Other users won't be able to see it. Next you'll pick a password and then enter the answer to a security question that prevents many casual spammers from registering: Finally, do the typical Terms and Conditions checkbox jazz (we get a security interest in your first-born child, etc.) and then click the Create My Account button: ... and that's all there is to it! If you have questions about the sign-up process, please send them by email to Dave Baker at davebaker@benefitslink.com

Congrats Belgareth! one of the things I truly like about the posts, when they sometimes 'switch' to other insights. MoJo: for me, Cat's in The Cradle is a classic, partly because it is so true. we can go along and get so busy in our own life we miss things if we are not careful. remembering the words of his song helps me pause and take time out along the way. one of the very first parodies I attempted.

Kudos! And agree on the D-Day as well. Sadly, most of those involved have passed on to greener pastures, but we salute their memory. On a lighter note, and meaning no disrespect with my switch over to my strange sense of humor, it also happens to be the 36th anniversary of my wedding day. A fairly heroic undertaking (on my part, not hers, naturally)!

one of the pension parody songs I did was Cat's in the Cradle (1974). not quite 50 years, but getting there. One always hopes when choosing a song that at least some of the people have heard the original. one lady in the crowd informed me later that she got a big kick out of the parody because it turned out her husband played back up drummer for Harry Chapin. The plan arrived just the other day The company added a 401(k) They put in a match, and what can I say I deferred in the usual way The cash was growin’ ‘fore I knew it, as I put away I’d say, “I’ll have a lot some day, yeah You know I’ll have a lot some day.” And the cat’s in the cradle and the silver spoon, Little boy blue and the man in the moon. “When will I retire?, well I don’t know when, But I’ll have a good time then You know I’ll have a good time then. The plan turned 10, just the other day I said “Thanks for it all, I’m doing okay” I invested low, now its high today I’m glad I deferred 10% of pay As I saved away, my wife her smile never dimmed Said she “I admire him, yeah, You know I admire him.” Refrain The plan was tested just the other day It failed ADP in a big time way They put in a QNEC once in a while Good news for me I said with a smile The deferrals were too high for the HCEs See you later, can I thank them please? Refrain I retired just the other day I was sick of work and the rate of pay But I said “The 401(k) was such a good find The money is there and it grew over time” Well the job it was a hassle, but now I’m free I recommend you save like me Recommend you save like me. Refrain ................ all kidding aside, today (6/6) is 73rd anniversary of D-Day. Many thanks to those who gave their lives for freedom's sake.

Still, isn't lowering the employee tax likely to exacerbate the system's funded status problems, especially if not accompanied by any reductions in benefits? I think that was Spiritrider's point. It's hard to solve problems like those of the Social Security System if one rejects, out of hand, any sort of increases in the tax revenues to be collected.

That is indeed what I'm saying.

But WAAAAAAYYYYYY more interesting.

Exactly. You have to be careful with those compensation definitions too--Most of those Employees will be heavy on the tips for comp & excluding tips is likely discriminatory. If you include the tips as comp, how do you accurately apply deferral elections? Restaurant plans are no fun