As a relatively new, and learning Employee Benefits Attorney, I have often telephoned the IRS Employee Plans toll-free help desk upon becoming particularly stumped with technical Code questions.

I have always been impressed at the agents' ability to quickly pinpoint my issue, and point me in the right direction.

One one telephone call, the Agent on the line told me that the reference book she was using was Sal Tripodi's Erisa Outline Book. She recommended that I avail myself of that resource, available at www.cybERISA.com.

After checking around, and finding generally good reviews, I ordered it for myself (books only, not the CD).

Worth every penny. This set is fantastic, and I believe that my superiors are going to be impressed with my improved research efficiency. If you're looking for a thorough but concise reference source, this is the one to have.

I'm sure many know about this source already, but this post is for those who don't. Just wanted to help any other newbies out there, like me, who could be greatly helped by this resource.

Wish I'd had this when I started my current position...

my client is 1 owner(100%) and 3 employees. one of the employees is her daughter. how can i name the allocation groups to exclude the daughter from being in the same group as her mother? how will she affect my testing?

thanks for any help.

my client had a participant that termd in nov 2003. he had an outstanding loan balance. the plan doc states that the loan is due and payable upon termination. if the employee does not pay the loan back, should the 1099r be issued for 2003 or 2004(if there is a 90 grace period to pay it)? i just don't know when the loan technically is in default.

thanks for any help.

sponsor company has dissolved. an attorney for the sponsor had assumed role of plan administrator but now wants to resign. we need someone to sign 5500's. the plan document allows PA to resign and says duties revert to employer. however, there is no employer. anyone know what to do? basically we need someone to sign the 5500. the plan has already been paid out.

As per the 401(m) regulations, you may borrow elective deferrals for usage in ACP testing only if the ADP test passes prior to and after the "paper shift".

However, if excess contrib refunds are processed to correct a failing adp test, logic would suggest, based on the Regulations, that deferrals can be borrowed to help a failing acp test pass. Does anyone agree/disagree with this thinking?

How do you handle Schedule A reporting for insurance contract coverage when you've had multiple insurance contracts within the plan year? The company has had three health insurance contracts within a 12 month period, so they overlapped the plan year on both ends. Do you report only on the contracts that ended or on all contracts that had activity within the plan year? Can you get partial year info from the insurance companies?

MY woek pension plan was frozen and know it is finally being terminated with up being bought out of the plan, does anyone know if I can take the whole amount and roll it into a roth ira and if I can do I pay the 10% penalty the amount of the buy out is about 15,000.00 thank for any help

I have a partnership client - a physicians' group - that has sponsored a profit sharing plan for years. In computing the partners' plan compensation I use a spreadsheet to do a circular calculation, deducting one-half of the SE tax and the amount of the "employer" contribution to arrive at plan comp for each partner. In 2003 they restated to a 401(k) safe harbor plan with a 3% NEC and a discretionary profit sharing option. When I compute plan comp, do I deduct all contributions to the plan for the partners (including deferrals) or just the QNEC and profit sharing contributions?

Plan doc says forfeitures used to reduce and use to pay plan expenses. What to do with the match forfeitures in years when the ER stopped making matching contributions? Is the only option then is to pay for plan expenes?

Participant terminates 12/31/03 and turns 70 1/2 in September 2004. First distribution must be by 04/01/05.

Can she rollover the full amount if she says that she wants to defer first distrib until 2005.

My reaction is no, the plan must make the distribution. Any contrary advice?

Thank you.

A new soloK client asked an interesting question.... he asked "can I withdraw $ from my solo and deposit it into an IRA to keep the balance of the solo below $100k when it nears that limit for the purpose of qualifying for the 5500 filing exception" I told him it would be a premature distribution since the Solo would still be ongoing and receiving contributions. Comments?

We're thinking about changing our loan procedures to stipulate that by signing the back of the loan check, the participant agrees to the terms of the Primissory Note. Don't know specifics of this type of procedure.

Anyone have suggestions where I can look for examples?

The DOL claim regs describe the plan's obligations after the participant has presented a claim. Can the plan limit the time a participant has to present the claim? I see health plans that often have a one-year requirement. I have not seen pension plans do that. I cannot find in the code or regs any authority for doing so. Has anyone had experience with DOL or IRS auditors questioning the period a participant has to present a claim?

ERISA Sec. 402 requires that each plan have a written procedure for amending the plan. And generally, plan amendments are authorized by the employer's Board of Directors.

However:

- Is it permissible for the Board to pass a resolution delegating the authority to amend the employer's plans to an individual?

- Or must each plan be amended so that the individual is named in each plan document as having the authority to amend the plan?

I would like to delegate "plan amendment authority" to an individual in one Board Resolution as opposed to the exercise of amending each plan and naming that person.

Employer has an exsisting 401(k) Plan last deposit 1/08/04 for 12/31/03 employee contributions! They would like to terminate 401 (k) and start Simple plan it seems that on many points they can not do this am i correct?

How much is to be reported on Form 5330 if the plan is late in removing ADP excesses? I know it's 10%, but 10% of what?

For example, if the total doallrs to make a test pass is $1000 but when the money is actually distributed after losses it's $950,are the taxes $100 or $95.

Specific example: a TPA sent a letter to a client saying the ADP test failed by $6,717.38 and told the client to send a check to the IRS for $633.00 (which is less than 10%)

(I'm not particulary friendly with this TPA, so I'm asking you guys and gals)

I would consider this a cosmetic procedure. Does anyone know if there is a medically necessary application of porcelain veneers?

In 1984 the DB Plan transferred to the PSP assets with respect to some participants, but not all. The affected participants were actively employed and not eligible for distribution under the DB Plan. DB plan was terminated in 1989.

The PSP permitted pre-retirement in-service distributions. In 1996 the PSP was amended to provide that these in-service distributions will no longer be available with respect to amounts attributable to the assets transferred from the DB Plan.

Any ideas on corrections for the transfer and/or the 1996 plan amendment?

Thanks.

This is an unusual situation - I would appreciate any comments:

Not for profit employer maintains an ERISA 403(b) plan, and a 401(a) plan (money purchase).

Terminating employee wants to roll 401(a) money over to the 403(b) plan. There is no group annuity, just individual annuities/custodial accounts, on the 403(b) side.

401(a) plan permits rollovers TO a 403(b) plan; 403(b) plan does not currently permit rollovers FROM any source other than a 403(b) plan or account.

Can post-term rollover from 401(a) to 403(b) happen (presuming 403(b) is amended to allow it)?

Anyone find the 5498-ESA reporting deadline (April 30) challenging? It’s pretty tight considering contributions are allowed up to April 15, and post mark is recognized.