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Whether it is advisable depends upon the owners' overall financial situation. It is permissible in this case because the participants, plan sponsor, and plan administrator (i.e., the owners who fill all of these fiduciary roles) can decide this is a sound investment for themselves. They certainly could diversify if they wish, but are not required to diversify.2 points
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If you have access, check out Session 301 Advanced 415 Limits from the 2013 EA meeting, specifically slides 39-61. There is a good discussion and several examples that might help. It's not a simple answer.2 points
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I'm hinting that it's not well laid out but there are reasonable interpretations of what to do...2 points
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Determination letter for defined benefit plan
Gina Alsdorf reacted to Carol V. Calhoun for a topic
For some definition of "fun"... 🤣1 point -
QACA default rate escalate to 6% or 10%
Bill Presson reacted to RatherBeGolfing for a topic
or start at 10% and no escalation1 point -
maybe, if you demonstrate the compliancewith (a)(26) using annual method, then, yes, there is an issue. If you can demonstrate compliance with (a)(26) using accrued to-date method, then it is OK (quite often it works for the year of plan termination).1 point
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2025 Retirement Plan Limits released by IRS
SSRRS reacted to Lois Baker for a topic
IRS Notice 2024-80 401(k) deferral limit increases to $23,500 415 limit for DC plans increases to $70,000 HCE threshold increases to $160,000; Key employee at $230,000 401(a)(17) limit increases to $350,0001 point -
Good Faith Amendment
Lou S. reacted to Bill Presson for a topic
We do all the plan termination resolutions and amendments simultaneously and then proceed with distributions. Perhaps it can be done differently.1 point -
Good Faith Amendment
Lou S. reacted to Bill Presson for a topic
The plan has to be in compliance with all laws and regs when terminating. If they haven’t signed an up to date termination package, they shouldn’t terminate.1 point -
Form 5330 / E-Filing
QNick reacted to austin3515 for a topic
Well I received this message from customer support who was clearly copy/pasting. I probably don't have enough leverage to get to the senior exec who provided that message.1 point
