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Showing content with the highest reputation on 08/13/2024 in all forums

  1. Yes it meets the the requirement by making a single entry date on the first day of the Plan year and no one is kept out more than 18 months which is acceptable. Yes folks hired in June have the shortest 6+ month eligibility, May 7+ months, April 8+,....,Dec 12+ months, ... July 17+months
    1 point
  2. Apply it toward the distribution fee and be done with it. You've already spent over a $1 worth of your time.
    1 point
  3. 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.
    1 point
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