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Showing content with the highest reputation on 04/05/2021 in all forums
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Regs were finalized in July of 2018 (I think that's when it was) allowing for that change. The original position always seemed strange to me, the change was a welcome one.1 point
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Opening balance: $A Deferrals: $B Match: $C Distribs: $D Total plan earnings: $X Earnings basis: PARTICIPANT [BOY + .5(contribs) + adjs - distribs] / Plan [BOY + .5(contribs) + adjs - distribs] Total participant earnings: Basis * Total Plan Earnings That is all the attorney needs.1 point
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Participant took in-service w/d before 59.5, what now?
Bill Presson reacted to BG5150 for a topic
High end boutique. Around $250k in income every year. Around $25-30k PS for 6 or seven years. Plus earnings.1 point -
Participant took in-service w/d before 59.5, what now?
Bill Presson reacted to BG5150 for a topic
Update on the facts: The distribution was for $220,000. There was no money source (yet) as the money is in a brokerage account for the participant. The brokerage does not separately record keep the sources; we do that annually. She had enough funds in the PS account at BOY to support the distribution. I believe the money is still in the IRA, so re-payment may still be possible.1 point
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