Can a participant that is 100% vested and receives a lump sum distribution of his entire benefit buy back into the plan when he is rehired to receive credit for prior service?

Specifically, I would like to know if a plan sponsor can refuse the buy back.

I apologize if this is a basic question but my field is DC and I get a little confused with the DB rules as I don't use them often.

Thanx!

I am looking for ocde and/or regs to justify the use of a cola on the maturity value when calculating the PV of the benefit. We are looking to fund the maximum contribution possible using the least amount of compensation.

Thanks, Sue

Plan has segregated accounts (FBO accounts for each ee).

Plan used to have 401k deferrals only so no tracking of g/l by money type was done or needed.

Now they've added match.

All is fully vested.

Hardship allowed from ltd 401k def only (plan effective 1995). We track ltd contribs.

Is there a reason we need to track g/l by deferrals and match? Is there anything in the regulations that requires this?

Thanks

Would like to know what happens when there is a failure to obtain spousal consent. Plan requires this. Thanks.

I am trying to find information on a defined benefits plan. I have a client who has been terminated from his position and he wants to rollover the proceeds of this retirment plan into an annuity and he has been told that he cannot touch the money that he has in the plan until he becomes retirement age.

We have written several letters trying to get a copy of the plan but to this date, they haven't given us the plan so that we can review it.

Our question is whether or not he can rollover his investment into another plan?

A prospective client receives director's fees from a company that he no longer works for. It is my understanding that he should be treated as a sole proprietor and not an employee of the company and his income be treated as Schedule C income subject to SETD, etc. Can someone confirm or advise on this matter??

Thanks.

What the limits for 2004....compensation, 401(k) and catch-up????

Anything else, please add.

I am searching for a variable annuity carriers that offer living benefit riders and accept 457 plans. Can anyone suggest any carriers?

Can a LLC have a Cafeteria Plan put in place? If so or if not, can someone explain the specifics to me as to who can or cannot participate. Thanks

I'm a bit new to the determination letter process and am wondering if anyone can provide me with some advice. All of the employers that we represent adopted Corbel's volume submitter plan in the mid-to-late 1990s, and we made modifications to the volume submitter language. These employers all submitted for determination letters on Form 5300 subsequent to the adoption of their plans. The 5300 was used because we wanted the IRS to make a determination as to affiliated service group status, as this is critical to the way the plans operate.

All of these plans were amended and restated for GUST and EGTRRA prior to February 28, 2002 but we haven't submitted for determination letters yet. Everything I've read and everyone I've spoken to is in agreement that we need to submit for a determination letter with respect to the amendment and restatement and cannot rely on the Corbel letter. But I am not certain as to whether we need to submit our request prior to the end of extended remedial amendment period, September 30, 2003. Anyone have any advice here? Also, do I need to use the Form 5300 again or can I use a Form 5307? I don't think the amendment and restatement affected the affiliated service group status at all. Plus, we still have the earlier determination letters indicating the employers are a member of an affiliated service group. What would any of you do here?

Can anyone site the IRS bulletin that addresses their position on plans that must now either remove the end of year requirement if the plan submits the match each month or revert to submitting the match annually? Thank you.

Linda

I have a calendar year plan that allows for a discretionary match to be made based on payroll period, with no accrual rules (no last day requirement, no hours requirement).

The Plan has not made a match in the past, but is interested in providing a match going forward.

1) Can the plan start the match in the middle of the plan year, i.e. first payroll beginning in August 2003?

2) Would they need to consider giving matching contributions retroactive back to January 2003?

3) If not retroactive, would eligible compensation for the ACP test have to be August through December?

Are there any other issues I should be considering?

Thanks for your help.

Kurt

What is a reasonable transaction fee for buying and selling employer stock in a retirement plan? Are there typically any other fees associated with maintaining employer stock in a retirement plan?

What is a reasonable transaction fee for buying and selling employer stock in a retirement plan? Are there typically any other fees associated with maintaining employer stock in a retirement plan?

Many Elected Officials receive a small amount of salary for their service. Since the annual additions limitation is lesser of 100% of salary or $41,000 (as indexed), is the most they could ever receive is their salary amount? Since more than likely their salary would always be under $41,000 limitation. Many times, it is less than a few thousand per year.

Any other type of plan that would allow a higher employer contribution?

Can a participant who has a contributory ira with after tax dollars and pre-tax dollars in it roll or directly transfer the entire amount into a qualified 401(k) plan?

I'm confused on the new reg's. It appears there is no problem with the pre-tax IRA, or a rollover IRA (consisting of after tax employee contributions within a qualified plan ) but I not clear on just a plan ol IRA that consist of pre-tax and after tax money.

After help would be appreciated.

An employer maintains a partially self-funded plan for eligible employees. The employee is required to contribute to the cost of the plan both for the employee and dependents. The employer requires all employees to participate at minimum as an employee only.

This does not appear legal, but I am having difficulty finding the back up documentation. Any help would be appreciated.

I had a medical reimbursement form returned to me because I had submitted a photocopy of the bill rather than a receipt for payment.

I was told that I need to provide proof that the bill was paid. I pay my bills by mail. So, the administrator said photocopy the cancelled check.

Is this for real!?!

Is an SPD required for a cafeteria plan if an SPD is provided for each benefit offered through the cafeteria plan? If possible please provide legal cites.

Thanks

I am struggling to design a floor offset cash balance plan with equal account additions for two owners who are different ages.

Everyone gets 7.5% in the defined contribution plan, including the owners, in hopes that will let me pass the meaningful benefit requirements for 401(a)(26) without having projected benefits for anyone other than the owners after the floor offset is applied.

I understand I also need to apply the offset on the same basis to everyone. Basically, my problem is how to state the offset so that owners get 7.5% in the defined contribution plan and 32.5% in the cash balance plan after the offset.

My "first shot" at that was to say the 7.5% directly offsets the cash balance addition, defined as 7.5% for group 2 and 40% for group 1. I am told though that I cannot simply offset the addition.

Can I instead say the maximum offset is the account coming from the first 7.5% in the cash balance formula?