Does anyone have a PDF copy of the Corbel prototype they wouldn't mind emailing me?

Okay, well I misspoke earlier and what the exact problem is is that both the Plan Doc and SPD say that participants need to submit claims within 75 days,however, the employees were given a flyer that stated that they had 90 days to submit claims. Now we have participants turning in claims after the 75 days and saying they have 90 dyas to submit accoring to the information they were given. We don't know if we should update the PD to reflect the 90 days and have the client back date the document to 12/31/05 or not. What do you think???

I have an employer with mostly Amish/Menonite employees who all have insurance through their churches. The employer is not connected with the church and the insurance plan is not employer sponsored. Can these premiums be reimbursed under a typical cafeteria plan FSA?

I am taking over a plan. The current fiscal year is 1/1/04 to 12/31/04. The plan year is 12/31/04 to 12/30/05. There was a contribution made December 15, 2004 that exceeded the deductible limit for the 12/31/03 to 12/30/04 plan year. These contributions were not reported on the 2003-2004 schedule B. Is it okay to just report them on my 2004-2005 Schedule B or do I need to go back and revise last year's schedule B. (Either way I will need to make sure a form 5330 with excise tax was filed for 03-04.)

The person who was doing the Plan Documents and Summary Plan Descriptions before me messed up royaly and the dates to submit claims for reimbursement do not match between the two documents. We are debating on whether or not to write a new Plan Document and submit it to the client to sign and back date to 12/31/05. Has anyone run across this, or what do you all think of this?? We need help right away!!!

Thank you!

401(k) plan terminated as of 12/31/04; all distributions made in '05. Questions: Part 1, line 2 - leave blank if investment carrier for plan termination sends one check to employer and has employer cut all participant checks based on each participant's request (cash/rollover, etc.)? Line 3, put number of participants that received a distribution? Lastly, leave Coverage test on Part IV blank? Thanks in advance for your assistance.

Co A was bought by Co B. Co A’s 401k plan is being terminated and all participants are allowed to receive a distribution. The plan has GIC contracts with high surrender charges. Co A has been advised by Co B’s financial advisor that the GICs can be liquidated and the charges paid back to the participant’s accounts by the employer so they are whole when the distribution is made. The participants of Co A will then have the right to rollover their account balances to Co B’s retirement plan.

We thought a company could not put the GIC charges back into the plan. Please comment.

plan sponsor wants to reverse a land deal by buying the land from the plan. he claims to have put the land in the plan erroneously. put aside the absurdity of his story for a second...

it would be clearly be a PT for him to purchase the property from the plan but is there a way to apply to the labor department in order to get them to bless the transaction.

Can an existing safe harbor match formula be amended mid-year to a different safe harbor match formula? The customer would like to change their basic match - 100% up to 3% of compensation, plus 50% from 3-5% to an enhanced match - 100% of deferrals up to 4% of compensation. Therefore, the new match formula would be increased under the new formula.

One of my plans (calendar year plan) failed 2003 ADP test. No excess contribution was returned to the HCE until 2006. How shall I handle it? I believe the deadline for returning excess contribution is 12/31/2004, correct? Thanks.

Does anyone know of any website that would have various retirement statistics. i.e. contribution% over the years, average deferrals, if employees are educated, etc... Im really looking for anything.

We have a client that has a health insurance plan with a $1000 deductible. The company has agreed to pay any bills until the deductible is satisfied, then the insurance kicks in. Is this an HSA? If not, what kind of arrangement is it? If so, they need a plan document, correct? And should it be administered by a third party (right now they are doing it in house)? Any help is appreciated...my knowledge on these is so limited.

Thanks

We have a client that has a health insurance plan with a $1000 deductible. The company has agreed to pay any bills until the deductible is satisfied. Is this an HSA? If so, they need a plan documnet, correct? And should it be administered by a third party (right now they are doing it in house)? Any help is appreciated...my knowledge on these is so limited.

Thanks

We have an active employee who has been enrolled in Medicare Part A for 18 months. He will soon retire. His wife says that her insurance agent is telling her she gets COBRA from our self-insured plan for 36 months from the date of termination. We think she only gets 18 months. Could her insurance agent be right?

Does anyone know the current OA portion of the current OASDI rate?

Background: A plan uses the Unit Credit funding method. The plan is frozen so there is no normal cost. There are amortization charges and credits as well as an additional funding charge.

In determining the actuarial gain or loss for the year, we take the difference between the expected unfunded past service liability (not less than $0) and the actual unfunded past service liability (not less than $0).

For example, lets assume the expected unfunded past service liability is $0 and the actual unfunded past service liability is $0. As such, there is no actuarial gain or loss base for the year. In this scenario, the balancing equation does not balance.

How do you handle such a scenario? Do you simply create a "balancing base" to make your equation balance? If so, is it amortized over 5 years for minimum funding purposes?

Reading from the "Explanation of Provisions" in the Federal Register, Vol. 66, No. 126, 6/29/01, Section B, 3rd paragraph:

"The general rules and regulatory definitions applicable under section 410(b) apply also for the purposes of these regulations. For example, these regulations do not change the general rule prohibiting aggregation of a 401(k) plan or a 401(m) plan with a plan providing nonelective contributions. Accordingly, matching contributions are not taken into account for purposes of the gateway."

In other posts, it has been argued that ANY type of nonelective employer contribution, including QNECs, can count toward the gateway. How are QMACs treated for purposes of 410(b)? As a nonelective employer contribution, or as a matching contribution?

I'm afraid it's the latter, and therefore, QMACs cannot count toward meeting the gateway minimum. But I would love to be wrong. Was there anything on point in the final 401(k) regs? I haven't read them thoroughly yet.

On Wednesday of this week, at two minutes and three seconds after 1:00, the time and date will be:

01:02:03 04/05/06

Are there any federal statutes, regulations, or court cases making the payment of the above fees by a plan's broker/consultant illegal assuming they are fully disclosed (e.g., Schedule C in the context of a welfare benefit trust)?

Similarly, are there any state statutes, regulations, or court cases making the payment of the above fees by a plan's broker/consultant illegal assuming they are fully disclosed (e.g., Schedule A in the context of a fully insured arrangement)?

Please do not venture an opinion without the accompanying citations!

Thanks, Ira

I am 27 and single. My current income is $46,000. My current job does not have a 401(k) or pension program. I have been reading up on ROTH IRAs and I think I would like to start one, hopefully in time for the 2005 contribution deadline. I don't have any experience in investing. I have enough set aside right now to make the max contribution and I could probably continue making the maximum contribution each year. Any advice would be much appreciated.

The other question I have is regarding the cap on contributions. I've seen that you can only make contributions if you are single and earning $95,000 or if you are married and your joint income is $150,000. When you earn beyond that cap, can you still continue to invest the IRA? And will the earnings continue to be non-taxable? I'm not sure where I will be in the future and I have the potential to earn over the $95,000 in the next 5-10 years, so I am curious.