Leaderboard

Doctors can be wrong? Yes, have them engage an ERISA attorney and wait for the doctor to say “But that’s not fair!” - which was the funniest thing I’d heard that day.

I think the latest required restatement will be in 2076.

Amen @Bill Presson!

That's current. I'm assuming, of course, that it is an IRS pre-approved document. The new restatement cycle is fast approaching - without double-checking, I believe it opens in January.

If you are intending to keep the discretionary match under the safe harbor rules, yes. Otherwise I agree with RBG.

If you have a tiered match, it has to decrease as the tier increases so matching the first 4% at 0 and then the next 2% at any rate is not allowed.

As if I needed more of a reason to never, ever let a client add these monstrosities to a plan.

A plan sponsor, an employer, or a plan administrator might prefer to show as its address an address at which the person wants to receive mail. It could be bad if EBSA or IRS sends a notice to the address shown on the most recently filed Form 5500 report, the employer or administrator does not get the notice, and is charged with having failed to respond timely to the notice. I have worked on matters in which the plan’s administrator, as a safety caution, was unwilling to show an address of where the employer or administrator worked. In one, the Form 5500 reported a lawyer’s office address. In another, the administrator rented a Post Office box and put that address on the Form 5500. This is not advice to anyone.

Usually one of three ways: 1. Maintain both plans separately 2. Merge the plans 3. Go back in time

Hello broomrider, You should outline in the Judgment/Divorce Decree that the survivor benefit and you as beneficiary are irrevocable (which is the case in 99% of ERISA defined benefit plans) so that you have that clearly defined in a court order. A QDRO is only needed to divide the payment while the participant is alive, so you do not need a QDRO to secure the irrevocable survivor benefit...but if you are worried than you can put a simple QDRO together that lists the plan name, your names and addresses and that your former husband is awarded 100% of the benefit while he is alive, and should he predecease you, you get the 75% J&S as irrevocably elected at retirement. That should do it.

I said no more replys but I must say that I am embarrassed Dirty Harry/Cool Hand Luke mixup. Thanks (I guess) for pointing it out.