My uncle was fired from a government job of 20 years. He was told that in order to receive his 401k, he had to have his 2 previous wives to complete a document acknowledging he owes no child support nor alimony. Unfortunately, neither wives are in a hurry to sign the paperwork.

How long would the government wait to send his 401k? It would benefit the ex-wives if he owed them money, so I would not think the government would continue to wait.

An employer had an existing 401(K) plan when it became unionized. Under the collective bargaining agreement, the employer is contributing to the multi-employer pension and annuity trusts. The existing employees want to be able to continue to contribute to their 401k accounts but the employer will no longer be making any contributions. Is this permissible? Anything to watch out for?

The partnership has adopted a SEP. The parnership has 5 partners and no other employees. May a partner elect out of the SEP coverage?

Washington Post Article

Can a participant run her retired spouse's premiums through her FSA account? The husband is retired and they pay out of pocket for supplemental medical insurace. Can she use her FSA to cover this? I am thinking no because it is an insurance premium, but then again it is not being paid pre-tax. Any info would be great!

Tried to log-in to the Planet ERISA site, but their password screen wouldn't let me enter my full password. When I tried to use the "Contact Us" function, I also could not get through. Does anyone know if this site is still active?

Employer sponsors a 401(k) plan. He wants to amend the current plan to to a safe harbor 401(k) plan effective January 1, 2005. By what date would the amendment need to be executed and notice given to participants?

It is my understanding that if cross testing doesn't work a safe harbor allocation may be used. I have that situation, however, when i use a safe harbor allocation, the plan fails the 410(b) 70% coverage test (it fails that regardless of the allocation) and also fails the rate group (midpoint) test. I guess my question is if i'm using a safe harbor allocation does the plan have to pass the 401(b) 70% coverage test?? Thanks.

Can a SIMPLE 401(k) be "merged" into a new SEP IRA or must the SIMPLE be terminated and the funds rolled over?

Have a designation that reads:

My children or their issue per stirpes, otherwise

ABC trust.

There is one child, and he disclaims. My initial reading was that we skip the first line entirely and it goes to the trust, but I'm being told that a disclaimer is treated the same as a death, so it goes to the issue per stirpes. The more I think about it the more I think that's right. It's going to an attorney but I thought I'd throw it out here.

The benes are the same under the trust so it's not such a big deal.

Employer terminated its 401(k) Plan in July, 2003 in anticipation of its acquisition by another company, which utimately did not pan out. Final assets were not distributed from the terminated 401(k) Plan until July, 2004. Employer now wants to re-establish a 401(k) Plan, since the proposed acquisition was a bust. It is my understanding that, under the successor plan rules, this could not be done any earlier than August, 2005 - i.e., 12 months after the final distribution was made from the prior terminated 401(k) plan.

Would there be any problem with the employer establishing a SIMPLE IRA program just for 2005 - using a reduced 1% match - and then establishing a new 401(k) Plan effective January, 2006? The SIMPLE IRA would only have a one year run.

The employer's intent is to have a "salary deferral only" 401(k) Plan and was specificaly not contemplating making any employer contributions (matching or profit sharing). Though there is a required employer contribution under the SIMPLE IRA, I'm thinking that such contribution may be significantly (if not entirely) offset by the lack of administrative costs to establish and operate the SIMPLE IRA program.

Before broaching this approach with the employer, wanted to see if anyone else had any comments and/or suggestions.

Thanks!

Hi,

I am in partnership with one other partner and we each take a monthly draw throughout the year, pay estimated taxes and issue K-1's for income tax.

If we implement a 401k plan, we have no formal *salary*. Can we take the deduction without having a formal salary and where would the deduction be shown on the partnership return and K-1's.

Thank you for your help.

I have been told that giving certain employees (but not others) a choice between participating in a DP plan and a DC plan could potentially create a CODA situation?

What does that mean (very basically) and why is that bad (what are the consequences to each of the plans/employer/employees who participate)?

Two members of a controlled group are participating employers in the same plan. One member of the controlled group would like to give a 3 1/2 % safe harbor non-discretionary contribution, while the other member wants to stay with the standard 3%. Is this okay? Would it require that the members pass coverage separately, or that otherwise, it be tested under 401(a)(4)?

The model IRS agreements indicate that a Responsible Individual (RI) can be replaced if the original RI dies or is incapacitated.

Can an RI renounce his appointment? If so, who appoints a successor RI? Can the RI be other than a parent or legal guardian?

Does anyone know if/where he is working these days?

http://www.reuters.com/newsArticle.jhtml?t.../technologyNews

"Volunteers will be asked to download a program to their computers that runs when the machine is idle and reaches out to request data to contribute to research projects.

"Organizers say the Grid can help unlock genetic codes that underlie diseases like AIDS and HIV, Alzheimer's or cancer, improve forecasting of natural disasters and aid studies to protect the world's food and water supply. "

Details can be found at http://www.worldcommunitygrid.org/

Join "Team BenefitsLink"! See http://www.worldcommunitygrid.org/team/vie...ue=benefitslink

ERISA says a party in interest is, among other things, a 10 percent or more (directly or indirectly in capital or profits) partner or joint venturer with a person that is an owner of 50% of more of the stock of the employer. i am paraphrasing for brevity. our client loaned money to someone who is a 10 percent partner in a completely unrealted venture. when interpreting this provision do they mean ANY venture or the specific business that is the employer?

A potential client has an existing PS/k plan and would like to put in a DB plan for 2004. The last I heard was that even if there is no PS contribution for 2004 the 404 25% limt will apply because just by having an account balance in the PS plan they are a "beneficiary" under both plans. Has the IRS changed their thinking or is that still the case? What if the PS accounts were distributed before the DB was adopted, is that okay, or does the money have to be out for the entire year?

I am trying to find guidance and looking to you for help!

If a plan fails 414S because of the exclusion of bonus from compensation, how do you correct it. Is the bonus added back in for the NHCE group only or for everyone? I can't seem to find anything in black & white to help me.

Appreciate your input.