I would like to receive some feedback as to what would be considered a reasonable "client load" per administrator. CPA firms and non-CPA firms if possible.

Anyone care to share?

Thanks!

Situation: Foreign company wants to set up a 401k in the US. Who can be the trustee? The people at the parent level obviously want that role, but they live in South America. TAG says no, because to be a domestic trust, the decisions must be made by US corporations, citizens OR residents, etc.

Any thoughts? Has this been written up/addressed by anyone else?

Employer offers High Deductible Insurance Plan with HSA. They are telling employee that he cannot participate because his wife has a VEBA. Can't find anything on this. Thoughts?

Thanks!

Does anyone have any model language that they could share related to Rev. Rul. 2012-4 and allowing roll-overs from a DC Plan to a DB Plan?

Company has 4 employees - one owner, owner's wife, owner's father and one NHCE (not related). To pass 401a26 they just need to benefit two employees right? So if they had the owner in a Plan with his wife, or with his father, they would be ok? No need to include the NHCE?

I left my Company in May 2011 and was rehired in Dec 2011 and still currently with this company.

My question:

Since I left my company, can I rollover any amount of the 401K even though I came back and still current employed by this same company?

Thank you

Have there been any extensions announced for 5500's for areas affected by Hurricane Sandy? I have a 3/31/12 YE and the client is in the disaster area?

Just wondering what others are charging to restate an ESOP plan document.

Any help would be greatly appreciated.

Thanks

DPSRich

I am 65 1/2 years old. Signed up for Medicare Part A & Part D (Current HDHP prescription coverage not credible to Medicare). I Have a HSA account that I can not contribute to because I am participating in Medicare. I am still working at an Employer that has more than 20 employees and will continue with a HDHP for 2013. My question is can I participate in the employers HDHP and FSA account for 2013 even though I have a HSA account that I can't contribute to but, could pay bills from?

We use Corbel PT 401k Plan. Have a plan that WAS 401k, but now wants to be PS only. My dillema is that for things like hardship and in-service, the PS Prototype doesn't give me the options regarding 401(k), etc.; it assumes the Plan has ALWAYS been PS only. So I don;t think it will work.

So what am I to do? Should I use the 401k document still, but just not check the box that says 401(k) contributions will be allowed and "blank" the whole 401k section?

I think that is what I need to do, but looking for suggestions.

Client adopted a Flexible 401(k) PSP in October of 2010 sponsored by First Clearing, LLC. Client only has copy of Adoption Agreement and does not have underlying plan document. Adoption Agreement is entitled "Flexible 401(k) PSP Standardized Adoption Agreement". I know it is a longshot, but is anyone aware of where the "Basic Plan Document #01" might be found on-line? I will try to contact First Clearing, LLC as well, but thought I would give it a try. Thanks.

Calendar year plan, 2012 AFTAP was certified in March to 80.04%. There was a $23,000 deemed waiver of prefunding balance (there is no carryover balance) to get AFTAP to 80%, plus an additional voluntary wavier of $2,000 prefunding balance to account for the NHCE annuity purchases so the assets less prefunding would be 80% and allow employer to apply credit balance in 2013 if needed. This is not a huge issue since they still have a good amount of prefunding balance, but while it's my understanding the deemed waiver amount could be reversed if not necessary under MAP-21, can the addtional voluntary wavier be reversed as it was not done to avoid benefit restrictions?? Thanks.

Can a plan provide a limited safe harbor contribution to HCEs as long as the full safe harbor contriburtion is made for NHCEs? For example, the plan provides a 3% safe harbor nonelective to NHCEs but HCEs only receive a 1% safe harbor contribuiton. Or for a safe harbor matching contribution plan, the plan provides a basic safe harbor match to NHCEs but provides a lesser match to HCEs.

I have been contracted by an employer to assist in the termination process for a large auto employer. This was a bundled plan, very poorly managed I might add. The institution was named the corporate trustee for some reason. Bear in mind the employer has been very hands off, which I guess is why they went with the financial institution being the trustee but now, several issues must be addressed and I am not quite sure who does what. Add to this, it is an Affiliated Service Group.

The plan has decided to terminate. That said, who signs the termination paperwork? The financial institution told them they needed an attorney to terminate the plan I am assuming because they had no clue how to handle. Not sure why they were told that when they prepared all the documents, participation agreements for the employers and restatements so really just not clear on why they wouldn't prepare the termination paperwork. At any rate, back to my question, who signs the termination paperwork and all the distribution forms?

Next question, it appears that one of the members of the Affiliated Service Group left the Group during this plan year. I don't have any paperwork for that as it appears to be a Partial Termination. Also, the sponsor didn't match any of the participants salary deferrals because there is a 1000 hour requirement and that group left before that could be reached. I just seem to have an array of issues and need a bit of direction.

So questions as follows:

Who signs the termination paperwork for each Employer of the Group?

I assume each Employer in the Group needs termination paperwork, correct?

The Group that left, what to do about that? Left with no termination paperwork and didn't receive contributions?

Anything else I should be addressing that isn't coming to mind while I am typing this for documentation purposes?

Is the release from prison of an employee's child a change in status event permitting the employee to add the child to medical plan coverage mid-year?

I believe it is since, upon release, the child is losing coverage sponsored by a governmental entity (i.e., the medical care was provided by the prison authorities and presumably, but not definitively, the prison was government-run) but I wanted to see if anyone has had experience with this situation.

UPDATE: See this thread, which my memory failed to tell me that I participated in:

http://benefitslink.com/boards/index.php?showtopic=14493

Can I list my children as beneficiaries for my 457(B) plan and also include the term 'PER STIRPES" after each of their names so that if only one of them survives me, my other child's children will also be entitled their parent's portion of the benefit? I've asked our Plan Administrators and they don't know. Any guidance would be helpful. Mahalo.

Hello everyone

A quick question. A company is currently negotiating a collectively bargained agreement with a union. At the same time, they are instituting a new 401(k) plan, and wish to know if the exclusion under Code section 410(b)(3)(A) (allowing for collectively bargained employees to be excluded) will apply when the CBA is not finalized.

Has anyone come across this issue before? Any advice or guidance will be much appreciated. Thank you!

Hello everyone

A quick question. A company is currently negotiating a collectively bargained agreement with a union. At the same time, they are instituting a new 401(k) plan, and wish to know if the exclusion under Code section 410(b)(3)(A) (allowing for collectively bargained employees to be excluded) will apply when the CBA is not finalized.

Has anyone come across this issue before? Any advice or guidance will be much appreciated. Thank you!

I've got a one-person plan that holds real estate (and has for a while - let's assume that it got into the plan OK). The owner/participant needs to take an RMD, and his attorney wants to know if he can take a portion of the ownership as the RMD. I'd still issue a 1099-R, but there would be no cash moved (so the owner would have to come up with the taxes from his own pocket).

On the face of it, I said "PT". But then I thought it further out - what if the plan terminated? Would the entire distribution be a PT? If not, then there must be some kind of mechanism to get this out of the plan. Is this actually permissible? If not, what recourse does this sponsor have?

Thanks.

409A seems clear that a plan may specify only one time and form of payment for each payment event. Is there any exception to allow a service recipient to retain discretion as to the time and form of payment upon a service provider's death? For example, if a plan provides for installment payments to the service provider that commence upon retirement, but further states that upon the provider's death the remaining balance will be paid to the beneficiary either in continued installments or in a lump sum, at the sole discretion of the service provider.

If there is no exception permitting discretion in the event of death, it seems that Section VII.D of Notice 2010-6 would require the service recipient to 1) correct the plan provision to designate a single time and form of payment (in this case, installments?), and 2) furnish a statement to the IRS as well as any affected participant (and report any payments triggered by the pre-correction provision within a year of the correction). Does that sound accurate? Additionally, if a service provider under this plan has already died triggering the discretionary provision, does this complicate the service recipient's ability to correct the provision under Notice 2010-6? Must the beneficiary of the pre-correction payment report the entire amount as income under 409A(a)?

Thanks!