What is the consequence if a governmental housing authority lets say, adopts a volume submitter document that is clearly an ERISA corporate plan? It has ERISA provisions and IRC provisions that are not applicable to a governmental entity. Is this just superfluous language as the attorney drafter (with huge legal fees) claims, or could this subject the employer to unnecessary provisions, which could be enforceable in an IRS audit?

A DB plan was terminated in summer 2009.

Is it reasonable to apply for dl letter now?

Assets were distributed in 2009 and plan was a one participant plan not covered by PBGC.

Thanks.

I have a client who is a participant in an ERISA plan. A QDRO was issued in favor of her ex spouse as an alternate payee. The ex-xpouse owes child support arrears to my client. As I understand, a QDRO can not issue against the ex-spouse's, alternate payee's, share of the benefits in favor of the children for who he owes support. Is there any advice on ways of collecting or reducing the alternate payee's share of the benefits to satisfy the alternate payees obligation for support?

I have an Employer that has given a Partner a K-1 with both self employement income as item 14 A, and Non-farm optional income as item 14 C.

Are both to be considered as earned income in a Defined Benefit Plan?

Thanks for all your help.

Hi. Company A is currently leasing employees to Company B. Company B is anticipating hiring most or all of the leased employees. Can anyonetell me at what point Company A can share employee data (including HIPAA PHI) with Company B? Company B needs the PHI in order to negotiate a contract with a TPA for what will be its self-funded group health care plan. It needs to have the group health plan ready to go on the date the employees are hired.

I have mostly thought that once the check is issued and mailed, I'm done with the distribution. But we received a list of 15 checks that were not cashed. They were issued from 2003 to 2007 and range from $36 to $700.

I am trying to understand the responsibility of the Employer. (This is a great client who will pay my hourly fee without complaining. But I don't want to charge him for unnecessary work.)

What is the minimum required? Should I just go through the whole process I would for a terminated employee that has moved? Or can I just move these into an auto IRA?

Any thoughts would be appreciated.

Hi. Company A is currently leasing employees to Company B. Company B is anticipating hiring most or all of the leased employees. Can you tell me at what point Company A can share employee data (including HIPAA PHI) with Company B? Company B needs the PHI in order to negotiate a contract with a TPA for what will be its self-funded group health care plan. It needs to have the group health plan ready to go on the date the employees are hired.

Hello all,

Remember during late 2008 there was all the talk about deemed elections to reduce COB to raise AFTAP etc. Well, its been a while and now that we have some better ground to stand on I would like some clarification.

If 2008 AFTAP is < 80%, you may not use the 1/1/2009 COB/PFB to reduce the required contribution due for the 2009 plan year... TRUE OR FALSE?

If 2008 AFTAP is 79% and the 1/1/2009 COB/PFB are high enough so that if a portion was applied to your assets you would have what is called a mandatory burn or deemed election...this mandatory burn is applied at 1/1/2009 to increase your 1/1/2009 assets to raise the 2008 AFTAP as of 1/1/2009... TRUE OR FALSE?

Please stop me if I have a misconception or explain if false.

Thanks in advance.

The 401(k) PSP that we administer for this dentist was created on 10/1/2000. REcently one of his former employees got a letter from the SSA stating that he/she had a benefit. Apparently, the client had a plan in the past that began in 1983.

I can't help him, but I wanted to steer him in some kind of direction. Yes, he should be looking for his old plan's records but is there somewhere he can turn for help is he needs it? Will the DOL help him try to recover info on this old plan to verify if this person was actually paid out and not due a benefit of $600?

We are working on a plan in which a participant who left the company 20+ years ago never began receiving his monthly pension benefit. He was originally due a $500/month life annuity. He is now 75 and has missed 10 years of payments (and also RMDs).

Do we have to actuarially increase his benefit? Or can we calculate the amount of the missed payments (+ interest) and make a payment to him in that amount and begin the $500/month annuity?

Our software is old enough that it can't handle the year 2010, so time to make a change. Only problem is the current version of the same product wants $149.95 per user.

Can anyone suggest a decent expense statement software? Just your standard "employee takes a trip and turns in a summary to accounting" type of expense statement. "Would be nice to have" features include multi-currency and spliting of bills to multiple categories (like splitting out room service meals from the hotel bill).

I'm currently at square #1, so any comments and suggestions are welcome.

Alternatively, if anyone has a good Excel or Access template they'd be willing to share, I'm more than willing to look at those too.

I am new at this company and it would seem that the first payroll in 2009 had an HSA deduction that was not captured in box 12 of the W-2. It is a small amount of money across a large population. (7800 over 100 or so employees) We did not catch it upon our review of the W-2s. If we do not do corrected W-2s, what are the tax consequences for the employee. And will there will be a conflict with what is reported on the 5498-SA?

Hi,

I'm over the AGI limits for contribution to a Roth IRA and am thinking of doing the following:

1. Opening a traditional IRA

2. Contributing $5000 for TY 2009

3. Contributing $5000 for TY 2010

4. Immediately converting to a Roth

Is this possible, or do I need to wait 60 days after the initial 2009 contribution before converting the traditional IRA to a Roth to prevent the conversion from being treated as a 2009 conversion?

How are VEBAs being used to manage retiree medical liabilities?

Rachel Hamilton

Senior Industry Consultant

American Conference Institute

Workshop @http://www.americanconference.com/employment_benefits/BenefitPlans/workshop.htm

What strategies can help minimize risk of breaching fiduciary duty for cash balance?

What is the future of cash balance plans for the employer?

Rachel Hamilton

Senior Industry Consultant

American Conference Institute

Workshop @ http://www.americanconference.com/employme...ns/workshop.htm

I know the IRS came out with some guidance on partial plan terminations, where previously we just had case law, can anyone give me the cite for that IRA guidance ? Can't remember if it was a Revenue Ruling, or Rev. Proc or what form it was in. Thanks.

It appears that for SEP's and Traditional IRA's, if you read the page 9 instructions literally, you report the distribution as taxable in 2a AND as taxable amount not determined in 2b. Can this be right? http://www.irs.gov/pub/irs-pdf/i1099r.pdf

Plan could not pay the owner the lump sum as requested due to funding issues, so the plan was paying the life annuity. Owner dies, and plan still owes the lump sum. Beneficiaries still cannot take the lump sum due to funding restrictions.

The question is - do the beneficiaries now 'split' the annuity, or do they get a new annuity based on 1/2 of the lump sum owed and their own ages?

I vote for a new annuity value.

For our new employees (hired mid-year), the effective date of coverage for all benefits is "first of the month following employment". We have for years required that new employees turn in a completed election form, with any associated insurance applications, within 30 days of their date of hire.

Our medical plan is now saying that their rules are that the employee has 31 days from the effective date of coverage to turn in forms. Per their rules, an employee who starts work on March 2 would have until April 30th to get their paperwork in. This would be almost 2 months after the date of hire.

We think that if we followed the medical insurance plan's timeline, that we would be out of compliance with IRS.

Mid-year elections for new employees need to be "prospective" or within 30 days of hire if retroactive.

Are we correct? Or can we follow the timeline set up by the medical insurance plan?

Under section 13405©(1) of the HITECH Act an individual is entitled to receive an accounting of electronic health records with respect to PHI.

There is an exception in section 13405©(1)(A) from the general accounting rules that states that the exception in "paragraph (a)(1)(i)" of 45 CFR 164.528 (covering disclosures to carry out treatment, payment or health care operations) does not apply to disclosures through an electronic health record. Section 13405©(1)(B) of the HITECH Act goes on to state that an individual "shall have a right to receive an accounting of disclosures described in such paragraph of such information ... during only the three years prior to the date on which the accounting is requested"

Does the three year limitation apply to disclosures to carry out treatment, payment or health care operations? Or does this apply to all electronic health records? The indentation and numbering of the statute seems to suggest the latter; however, the language (and use of the word "paragraph") seems to suggest the former.

Thank you!