I am looking to buy or borrow a copy of 401(k) Fiduciary Governance: An Advisors Guide, 2nd Edition, 2009 to prepare for the ASPPA PFC-2 exam this Fall 2011. Does anyone have a copy? Thanks! it is too expensive on the ASPPA website.

We are trying to determine how to use the exclusion for "employees who elect to contribute less than $200 per year". If you can exclude them, what do you do....in essence offer them entry into the plan and then when they elect less than $200 tell them no, you can't participate? Do you then not count them as a participant for the beginning of the year count on your Form 5500?

Very confusing since you cannot determine what their election would be until you offer them an election form as a participant in the plan, but then you yank it from them if they don't elect a large enough amount?

Any insight would be greatly appreciated!

thanks!

Has anyone addressed this collossal issue yet? Some of these 403b's who have nver reproted before could have hundreds of people to report. Any relief expected? Is anyone talking about this stuff?

A plan participant has a significant account balance in a plan. he is 87 years old and has been estranged from his wife, not divorced, for 25 years. The wife is currently living with another man. The beneficiary of his plan is his estranged wife. He would have to still obtain her signature to designate his sons as beneficiaries, correct?

Has anyone heard of SEP's not being allowed for S-corporations in 2012?

A tax client has told his tax preparer that they were told by American Funds that S-corps will not be able to make contributions to a SEP in 2012. We're not sure if our client misinterpreted the information they received from Am. Funds or if it was communicated properly. Also, supposedly a letter is being mailed by the end of July regarding this to all Am. Funds clients.

I have a client who historically has remitted their contributions 4 to 5 days after the pay date. There were a few occasions this year where they made the remittance the day after the pay date. Since there were a few occassions that they remitted the contributions the following day, do I need to use the one day remittance as my benchmark for the entire year? Or can I used the one day remittance as a benchmark from the day it occurred on?

Also, I am aware of the safe harbor rule that was finalized in January of 2010. When it says fewer than 100 participants at the beginning of the year, does it mean active participants or all of the participants in the plan as stated by the Form 5500?

I see on the newly released 5558 there is a box to extend the new 8955-SSA form. Even though the date for filing the SSA has been officially extended by IRS (for both 2009 and 2010) to January 2012, we still have to file the 5558 to get the extension on the SSA filing? I also noticed that the extension request for the SSA has to be signed, unlike the extensions for the 5500.

Is this everyone else's take on this? Seems like we will be doing alot of extra 5558s in the next couple of weeks.

Notices were given within the required period and the terminaiton date has passed. I just got the census info and an calculating the safe harbor for the short plan year. the plan sponsor will be paying the S/H. When I run the ADP test, it shows as passing since the plan is a S/H plan. If not for the S/H, it would fail. The have the 3% non-elective.

they still get the automatic pass on the ADP since they are making the contribuiton, correct?

Here's the dilemma:

Working on a plan transfer/merger.

Prior plan has a Qualified Automatic Contribution Arrangement.

They make a 100% of the 1st 1%, 50% of the next 5% match.

Vesting = 2/100%

Plan doc states that Forfeitures are not used to offset future contributions, but instead they are used to fund a discretionary contribution at year-end.

Prior plan administrator allocates the forfeitures pro rata to all participants.

Since discretionary contribution is made, you must run top heavy and indeed they are.

Client is informed they need to make an additional $6,500 required top heavy contribution.

Question: Does the QACA have the same top heavy rules as regular safe harbor that you can match up to 4% discretionary & not run top heavy?

Any other course of action that can be taken?

Employer sponsors both a 403(b) and profit sharing plan. Balances are as follows:

403(b) 19,000

profit shairng 1,000

total 20,000

It seems as though the participant can take a 10,000 loan from the 403(b) even though that will exceed 50% of the balance in that plan. Is this correct, how do we assign the extra 1,000 as security?

Any help would be appreciated

How to grab the attention of people towards your online business?

An employee's annuity was excluded from the plan assets on the 2009 Schedule I pursuant to FAB 2009-02.

The employee is rehired in 2010.

How would you add the account back into the plan's assets on the Schedule I? Our guess is 2c, Other Income.

Anyone else encounter this scenario?

LAdies and Gentleman, I am OUTRAGED by this insane requirement that the SSA extension now requires a signature, where for years this was not a requirement. Oh and by the way, since we do 5500's and SSA's at the same time, that basically means signature is requireed on ALL extensions because I have not at that time determined if I even NEED an SSA. (OK maybe I'll make it a point to figure that out, but I'd prefer not to have to go there).

And apparently it's not even clear if as a TPA I can sign the extension?? So now the client needs to actually sign the extension and mail it?? REally?? All this extra effort for an informational return?? I ask you, what purpose is served??

I want to organize a march on Capitol Hill - who's with me??

Calling ASPPA - defeat this insane requirement!

I don't believe it can be done, but can a retiree (no longer working for the employer) make a rollover contribution of their account from another qualified plan of the employer to their 403(b) custodial account? For example: employer sponsors DB and 403(b) Participant retires with an accrued benefit in the DB and wants to roll over the lump sum value into the 403(b) (both plans are sponsored by their former employer)

How long after a participant submits a change in status request to revoke their election do they have to submit claims?

simple question- when prepping Schedule H or I, are amounts that are reimbursements for fees treated as Other Income or subtracted from the Administrative Expenses

May an employee exceed the $49,000 415 limit by BOTH the 402g7 catch-up AND the 414v catch-up?

Has anyone else been getting notices that 5500's were not timely filed? We have been getting them in some cases with extensions filed for (they ask for approved copy but form 5558 says no copy of approval will be sent), and in other cases they were filed timely. Just curious and appreciate feed back.

Company mistakenly 'mis-coded' some participnats salary deferrals and they were not funded along with the associated match (match on a vesting schedule) for more than half the year.

Since this has happened some of these participants have left. Some of these corrections are around $10 in deferral and match, everything I read says they will need to fund, however, they may be able to FF the amounts because they are under $75 under the corrective distribution, is this on the right track? Also, when the ER makes up the deferral and match, should they fund as a deferral or QNEC and match or QMAC?

Thanks all

The DOL website states that late top hat submissions can be made by mail using the most current Form 5500 (with only limited informatio nrequired). I assume it is okay to use the printed form (which is marked "SAMPLE") for this specific purpose. Does anyone know if that's incorrect?