Are there any special requirements for filing a 5500 for a 412(i) plan? or is it like any other DB plan?

What schedules are required?

My client sponsors a safe harbor 401(k) plan. It also employs three individuals as "leased employees" (i.e., my client is the recipient organization, not the leasing organization). The plan excludes leased employees from participation as an excludible group, just like it does union employees, for example. The plan's attorney argues that the leased employees cannot be excluded from participation and, as a result, must be permitted to (1) make cash or deferred elections and (2) receive the safe harbor contribution (which is 3% of pay). We cannot locate nor can the client's attorney cite any statutory or regulatory guidance on this issue. Our question, is whether the plan can exclude the leased employees (minimum coverage is not a problem)? Thanks in advance for your thoughts.

Can a cross tested safe harbor plan that provides an 8% allocation to all NHCEs provide that 3% can be used for the safe harbor minimum?

Can a participant in a 125 (POP only) revoke an election covering a dependent, so that the dependent can get covered on a state health plan for kids? The dependent just became eligible for this type of coverage.

I am looking for survey/benchmarking data for which to compare broker fees, Consultant Fees and Registered Investment Advisor Fees for a 401k client. With all of the media articles regarding fees in plans, we have been hired by a client to identify and compare all fees in their plan, and I don't have competitive benchmarks for these pieces. Does anyone know where I may be able to find this, thanks.

Can anyone tell me if there is benchmarking data out there for me to compare fees/expense of a DB plan to the marketplace. I am trying to determine if the actuarial fees, recordkeeping, reporting and investment expenses are competitive. Thanks.

We are having a little tiff with our auditors. What is the impact to the plan and/or plan sponsor if the audit has a qualifed or adverse opinion.

I really have to wonder since this is limited scope audit and they really aren't giving an opinion in the true sense of the word.

Does anyone have any experience with this sort of thing?

Anyone know what type of plan design this is?

http://www.chernoffdiamond.com/aans/

Question:

With the funding deadline pushed back to 10/15 for those of us effected by Hurricanes Charley, Frances, Ivan & Jeanne, along with TS Bonnie, what have you being doing with the Sch. B? We have drafted a notice to enclose with the 5500 in general (as per IRS Notice 2004-62) in regards to extending the filing deadline. Is there anyone out there who is drafting a seperate notice for the Sch. B? Or is this not necessary?

FYI our shop does DB and DC work, and I am the DC consultant, but was in here posting a question in another forum, & was asked to post this thread. I hope I am getting the question over correctly!

Thanks for your help!

My husband and I each have variable life annuities for 7 years now. We would like to cash these in due to high costs and poor performance. Would we suffer a tax penalty and if so, could we roll these over to Roth IRA in order to avoid such penalties?

Question:

We have drafted a notice to send along with our 5500s as per Notice 2004-62. While all of the 12/31 PYE 5500s that we are working on have had extensions filed, we are questioning as to what needs to be sent with the 5500. My first thought is both the copy of the 5558 and the relief notice. But since the notice is a typed letter, will EBSA "miss it" when they are scanning the other items? My gut would say no, becauce the 5558 does not have a bar code at the bottom.

Anyone want to get their thoughts on this topic? Nerves are a little frayed around here after 3 hurricanes in 6 weeks (no more, knock wood) and we need some opions fromthe outside world (I say that because our windows are still borded up).

Thanks for your help, guys!

An organization has 3 employees. Each employee is covered by a one-participant 401(k) plan. The plans are otherwise identical in every respect. (No, I have no idea who recommended this arrangement, or why it was done.)

Do I need to do anything special on each plan's Schedule T? Should I check the box at Schedule T, Line 4b and complete Line 4c with the information for all 3 employees?

This sort of arrangement would have to aggregated, right? Otherwise, an employer could sponsor 500 one-participant plans to avoid reporting as a large plan and paying for an audit.

in 1998 db transferred assets to dc rather than give distribution options to participants. dc now has annuity options that were in db. to correct is it necessary to do vcp or can we just self correct?

also if we do vcp can we distribut assets to [participants like we were suppose to before vcp approval? thanks

we are on east coast and in a difficult arbitration hearing. we are looking for high profile help, eith er a former irs actuary or attorney.

back in 1998 the client had a db and dc. the db was terminated and monies were transferred into the dc without participants given the right to take distributions. please note that participants did retain db annuity option rights in dc. thanks

is it possible to merge a db plan into a dc plan rather than terminationg a dc?

ie is there anyway to move db money into a dc without offering annuity options to participants? thanks

My sister is a 50 year old, single mother with cerebral palsy. Last week she was notified that her job as a microfische clerk for a county court house will be eliminated due to 'out-sourcing". She will be just 60 days short of 20 years of continuous service. Getting her another job will be challenging considering her the limitations due to her disability. I am very upset but am beginning the process of helping make the right decisions for her situation. Any suggestions?

I bought Vanguard 2045 Fund for my Roth Ira, but I only spent $1000. That leaves me with $2000 more to spend on other funds. Should I just contribute the $2000 to the Fund I already have (Vanguard 2045) or should I go for something more aggressive, like a total stock market type fund. Im 23 years old and that's why I'm thinking about something more risky. Is it good to have a few different funds in an IRA or should I just stick with one fund(Vanguard 2045)? Any suggestions on funds would be appreciated.

Thank you.

In the case of conflicting provisions, what have most people experienced as having more legal authority (or what would prevail upon audit)?

For example, Union Agreement indicates all employees will receive $1.00 / hour profit sharing, and specifically indicates that amount is to be funded weekly.

Plan Document indicates that profit sharing will be made in amount noted in Union Agreement. It further sets allocation condition as being employed on last day of Plan Year and completing > 1,000 hours (no exceptions for disability/death/ NRD/etc.).

If an Employees receives contributions for first half of the year, terminates, and takes distribution, will the Plan have a qualification issue, or will the Union Agreement prevail (considering it is incorporated by reference in the Plan Doc)?

I'm not looking for a definite answer (lawyers will be consulted), but just wondering what people's general experience has been in these types of conflicts.

If an employer has various large welfare plans (i.e. health, dental, vision, term life, disability, etc.) is there any guidance on whether or not single 5500s need to be filed for the various coverages or if a combined 5500 can be filed for all? Each coverage is provided through a different carrier, so there are multiple schedule A's. If the health plan is self-funded (with stop-loss) does that make a difference in the method used? If optional where could one find the advantages/disadvantages of one method over the other?

401(k) plan adopted in 2003 using prior year testing. The only eligible employee in 2003 is a HCE. For 2004 will be both HCE and NHCE eligible in the 401(k) plan. For ADP testing for 2004 (prior year testing), does the Plan automatically pass as no eligible NHCE in prior year? or since no eligible NHCE in 2003 is my NHCE ADP % 0%.