Does a plan sponosr have any duty to find a lost spouse for purposes of waiver of a Qualified Joint Survivor Annuity?

I heard there is a minor exception to the anti-alienation protection. Discretionary contributions (i.e., discretionary profit sharing contributions) which have been made to the plan within 90 days of the employer filing bankruptcy may be undone by a bankruptcy court if they deem it to have been made as preferential treatment to a creditor.

Does anyone know where I can find this exception n the Code or ERISA.

Thanks!

I have a top heavy plan for the 2002 plan year. The employer is using matching contributions to offset top heavy. There are a few participants that do not defer. The eligibility rules are 3 months and quarterly entry dates.

Can I use statutory exclusions (21, 1 yos) to exclude some participants from the top heavy minimum? The document has all participants employed on the last day. I don't think I can, but...

Has anyone heard of a regulation where IRS plan agents have to conduct plan audits at a client site rather than at a TPA's office? One of the IRS agents that recently conducted an audit at our office states that in the future, IRS plan audits will have be be conducted at the client's office.

I have a 401(k) Plan that has been updated and is running on a prototype document. They are going to remove one of the trustees and add a new one.

Do we have to ammend the entire adoption agreement or simply change the trustee pages with new signatures?

Do we have to give all participants new SPD's or just the pages pertaining to the trustee info - or nothing at all??

Is there anything else that needs to be done with the documents for the Plan?

Thanks for your help!

Very nasty Windows virus going around: W32/Bugbear.b@MM

Be sure your virus definition files are up-to-date.

More info and a cleaning program are available from Symantec:

http://securityresponse.symantec.com/avcen...gbear.b@mm.html

"This is a complex worm that contains many different elements:

Mass-mailer

Network Share Propagator

Keylogger

Remote Access Trojan

Polymorphic Parasitic File Infector

Security Software Terminator"

McAfee link:

http://vil.mcafee.com/dispVirus.asp?virus_k=100358

When a DC plan terminates, can the balance of the balance of the forfeitures revert to the sponsor/company?

Participant takes out a loan @ 5.75% interest. Participant then takes a bona fide Leave of Absence. During the LOA, the Plan's loan document is amended. Participant returns to work, loan is remortized. If this was a new loan interest would 6.25%. Recordkeeper reamortizes at 6.25%. Shouldn't the interest rate still be 5.75%? We don't have a new loan, just a resumption of the old one. Document is silent on this issue.

Thanks for any guidance.

Client is adopting safe harbor 401k using the basic match. As per EGTRRA, the match now satisfies the top heavy contribution.

Question - if this plan is top heavy and is using the basic match and one of the eligible participants decides not to defer and thus does not get a match, does the employer then have to make a 3% non elective to this participant if the plan is top-heavy, or does this plan pass the top heavy simply due to the fact that it is using the basic match?

Thanks.

Ronnie

in practice, how are you answering this question? what cutoff date are you using??? 3 days, 15 days, ??? we know the rules, but in practice how do you know when the employer could have reasonably segregated the assets?? this seems to be a question that a tpa is really not qualified to answer??? do you leave it up to the employer to decide after we have explained the rules to them?? if so, are you getting the employer to sign a statement saying that they are in compliance?? is this necessary?

I have a plan which allows multiple loans.. Participants vested account balance is in excess of $100,000.00. Participant on June 3, 2003 has requested an additional loan.. Therefore, in order not to exceed the $50,000.00 maximum, the highest outstanding balances will they apply as of June 2, 2002?????? If so, loan# 1 was taken as of December 21, 2001 and the outstanding loan balance as of June 2, 2002 was $16,000.00. The second loan# 2 was taken on June 19, 2002 for the amount of $29,300.00.

Since Loan# 2 was taken on June 19th, will I have to include this in the calculation for the new amount available???? As of June 2003, Loan# 2 is the only loan outstanding.

Please let me know as soon as possible... Thanks.....

Employer X is adopting a medical examination program for its top execs that is intended to be diagnostic procedures within the meaning of Reg. Sec. 1.105-11(g). Query: does COBRA, HIPAA, Privacy and other mandated health rules apply?

I have a question I hope someone can help me with. I currently have an IRA with Scwhab. Every time I make a trade it cost me a lot. How do I or can I put this money into my own IRA so I can make trades without a third party getting a cut????

thanks for any help with this.

Frank

My employer recently discovered that one of their employees was using a fraudulent green card and SS#. The employee was recently deported. The employee had an employer profit sharing balance in the company 401(k) plan.

Can I assume the balance is forfeited and the illegal employee is not entitled to this amount.

If an employee rolls over their IRA into their company 401(k) plan is it protected from creditors when it is in the 401(k) plan?

What are the penalties if a plan administrator does not withhold the mandatory 20% on an eligible rollover distribution?

What are the penalties if a plan administrator does not withhold the mandatory 20% on an eligible rollover distribution?

I have a client who recently spun off half of his company and re-organized the current company as an LLC. He is the sole owner of the LLC and does not receive any W2 compensation. Is he considered an employee and would he be considered and HCE for ADP testing?

Employer ABC owns 100% of XYZ company. Employer ABC sponsors a 401(k) plan. They want each employer to determine their own match amount (i.e. ABC determines match amount allocated to ABC participants & XYZ determines match amount allocated to XYZ participants). Please confirm this cannot be done on a prototype document. Also, can this be accomplished in a volume submitter or do you have to draft an IDP?

I heard there is a minor exception to the anti-alienation protection. Discretionary contributions (i.e., discretionary profit sharing contributions) which have been made to the plan within 90 days of the employer filing bankruptcy may be undone by a bankruptcy court if they deem it to have been made as preferential treatment to a creditor.

Does anyone know where I can find this exception n the Code or ERISA.

Thanks!