I have HSA with limited FSA. Does anyone know if under this type of coverage whether the HSA will cover oral surgery? For example, tooth extraction and tooth implant? What about a new crown? Or do all these fall under FSA?

Can someone point me to some materials that explain the differences between these plans?

Can someone point me to something that outlines the differences between these two plans?

Google's HR department is telling me they think that because they are covered by Federal law, they don't need to comply with Cal-COBRA to extend my coverage after the 18 month Federal COBRA is exhausted.

I don't see what the point of the Cal-COBRA legislation would be if companies are not covered by it.

Any advice on what tack to take with them?

Thanks,

Fred

IRS proposed regs. issued 4/11/2008 referred to 1.430(f)-1© a number of times. For example:

(3) Plan assets equal or exceed funding target. For any plan year in which the

value of plan assets (as reduced to reflect the subtraction of certain funding balances

as provided under §1.430(f)-1©, but not below zero) equals or exceeds the funding

target of the plan for the plan year, the minimum required contribution for that plan

year is equal to the target normal cost of the plan for the plan year reduced (but not

below zero) by that excess.

While I believe this means subtract credit balances (that's what the statute says), it would be helpful to be able to see this reference and this poor old soul can't find it.

Is it acceptable to calculate vesting from date of eligibility rather than date of hire?

A doctor in a profit sharing plan terminated prior to year end. The plan requires end of year employment to receive an allocation. The sponsor had already deposited $44,500 for this doctor.

The $44,500 is within the deductible limits and some of us argue that since it was deposited prior to year end, it must be allocated to the eligible participants. The plan sponsor does not want to allocate the $44,500 and some administrators have taken the position that the $44,500 does not have to be allocated.

Also, how is it reported on the 5500?

Treasury had said they would not enforce Q&A9 of Notice 2007-28 and that they would follow proposed technical corrections. Has that technical correction been put into law yet?

If nonqualified monies are deposited into a 403(b) plan (e.g. participant inadvertantly deposits monies from personal checking account into 403(b) annuity), does that result in automatic disqualification of the plan?

I posted this the other day on the multiemployer forum and haven't gotten a reply, but think it might be more appropriate here....

Our client is a collectively bargained multiemployer health and welfare Plan and VEBA that has limited participation to bargaining units represented by a single local union and non-bargaining unit employees of their contributing employers. It covers participants engaged in a number of industries in a relatively limited geographical range (primarily several contiguous counties).

The client has recently received an overture from a bargaining unit affiliated with an entirely different international union which would like to join the Plan. If the trustees accepted this group, it would be the first unit not affiliated with the sponsoring union. The new group is engaged in one of the industries currently covered by the Plan and within the Plan’s geographic region.

If this new group is accepted, would this jeopardize the Trust’s VEBA status because of the absence of an employment-related bond?. I've been unable to find any IRS guidance on this question. I'm stuck on Treas. Reg. 1.501©(9)-2(a)(1) which reads:

“Typically, those eligible for membership in an organization described in section 501©(9) are defined by reference to a common employer (or affiliated employers), to coverage under one or more collective bargaining agreements (with respect to benefits provided by reason of such agreement(s)), to membership in a labor union, or to membership in one or more locals of a national or international labor union. For example, membership in an association might be open to all employees of a particular employer, or to employees in specified job classifications working for certain employers at specified locations and who are entitled to benefits by reason of one or more collective bargaining agreements.”

On the one hand, the regulation could be read to say that either coverage under any CBA or membership in a labor union will suffice as an employment-related bond. But I wonder if this is too broad a reading and some other employment-related bond (e.g., common union affiliation, common industry) is required. Another way to ask this, is whether any Plan provided for in a CBA will automatically satisfy the employment-related bond requirement? Thanks for any input.

I did not get to take as many seminars as I would like/need this year & need to find some courses to take in the NY area so I can file for my CE credits for my APA. Can anyone direct me to some? Thanks! I thought I could take the 5500 seminar but they are not offering it this year in the NY or Phila. area.

Thanks!

We are looking for "outside the box" ideas to assist employees with gas prices. We are in a rural area and many employees live and drive from other surrounding counties and states. Mass transit benefits are not available for us. Would be interested in flexible scheduling policies or subsidies etc. that other employers have tried.

Can they maintain both plans and the Safe Harbor start up at any time? Or like converting a 401(k) to Safe Harbor 401, does the sponsor have to wait until the beginning of the plan year?

Thanks

Although common place for large multiemployer plans to have co-counsel (one representing employer trustees and one representing union trustees), I cannot find any specific DOL guidance authorizing or discusses the expenditure of plan assets to pay for two attorneys. Is anyone aware of any such guidance discussing the Trustee decision to retain two different law firms to act as co-counsel? Any thoughts are greatly appreciated. Thanks.

May a health flexible spending account include a provision that a participant may not reduce or change the amount that is elected due to a change in status below the amount of the expenses already incurred or below the amount of the coverage received to date?

Citations or other guidance is appreciated - thanks.

Is there a problem with a plan matching at a rate greater than 100% (i.e. 110% of the first 5% of compensation)? This is a nonsafe harbor plan with a discretionary match. No ACP failure problems.

If a 65 year old retires but is not completely vested in the company DB plan, when is he required to begin receiving distributions from the plan?

Hello everyone,

I'm 18 years old, will be attending Bentley College next fall and I'm thinking deeply about my future. I've been told by some adults I know (who aren't necessarily too knowledgable about IRAs) that I should set up a Roth IRA ASAP.

I've read about some people who set up Roth IRAs for their children, but mine didn't for me.

Based on what I know, I believe that the sooner I start investing in my IRA, the more money I can make in the long run because of compounding.

My parents want me to do well in life (obviously), but they really don't know a whole lot about finances and as a result, my family isn't so well off financially. My parents are immigrants and I'm grateful for all they have done for me, but I want my children to be more stable financially than I was/am. As I previously said, I'll be attending Bentley on a big scholarship and I hope to major in either finance or accounting. I want to be as knowledgable as I can, as early as I can.

I earn about $100 taxed dollars a week so I make a few thousand a year. However, I will also be starting another job soon for the summer so I will be making enough money to provide for all the essentials my parents don't provide while still being able to contribute to my IRA. I am willing to put in the maximum amount into my Roth IRA annually, which I believe is $5000 for me since I am under 50.

I think I would probably want to start the IRA at my bank since I already have a checking/savings account with them, but is that the best idea?

I anticipate that I will be making at least $50,000 once I get my bachelors since the median starting salary for a Bentley grad is $47,500 and I will be in the honors program so I expect to be in the upper quartile of my class in terms of annual salary after graduation. Obviously, I really can't say how much money I'll be making years from now though.

I may not know as I should, wanting to start my IRA, but any help or advice would be greatly appreciated. Thank you.

No deferrals were made during the first year of a 401(k) plan and now the employer has informed us that he will not be making a profit sharing contribution. Are you still expected to file a 5500 showing zeroes everywhere on the Schedule I including the asset values at the end of the year, or would you just call this first year a mulligan and only start filing 5500s once the plan has actual assets (or at least a receivable contribution at the end of the year)? Since, technically, employees would be considered participants benefitting in this plan because they had the option to defer (and possibly impact their ability to contribute to an IRA if their compensation is high enough), I'm begrudgingly guessing that a filing is needed. Would that be the correct action to take? All help is appreciated.

I have a question about whether or not the following would meet the consistency rule.

Employee is eligible for vision coverage but does not enroll. Spouse is eligible for vision coverage at his employer but does not enroll. Spouse loses employment status. Employee wants to enroll both employee and spouse on the vision plan. It seems a bit too "flexible" to let them both enroll now as his loss of employment did not result in him or her losing vision coverage under any plan. However, the regs seem to talk about "eligibility" rather than coverage status.

I'd appreciate your thoughts on this issue.

Thanks.