I have been asked for a copy of the OBRA '93 Model Amendments. Does anyone know where I can get a copy?

Thank you,

I understand that under EGTRRA qualified plans can accept rollovers of IRA money, even if the IRA did not meet the conduit IRA requirements.

Would these rollovers come under the deemed IRA rules, or treated like rollovers from conduit IRAs?

similar to the other report, but forfeitures do not reduce contribution. I suppose I could have coded the formula to look at plan specs to determine that, but too lazy.

I am in a good mood.

enclosed report is a 'heavily' modifed summary of accounts report.

A crude attempt at pulling info to go on the schedule I, and the format looks like most of the SCh I

Some minor adjustments may be necessary for things like corrective distributions since they are treated the same as other distributions by the system

here is the latest on the issue of ees who receive top heavy minimum or safe harbor nonelective but are not eligible for other profit sharing contributions, yet need to be kicked up to the gateway minimum.

This was posted on

the 401khelpcenter.com (1/27/03 newsletter)

Summary: Sungard/Corbel is providing the information for the benefit of subscribers to the Corbel, PPD and FDP volume submitter cross-tested plan documents. This information concerns options for amending an employer's plan to provide under a top-heavy or 3% nonelective safe harbor 401k cross-tested plan, the "minimum gateway" allocations generally required under Treas. Reg. § 1.401(a)(4)-8(B), (the "cross-tested regulations"). Located on: Sungard/Corbel.

http://www.corbel.com/news/technicalupdate....asp?ID=196&T=P

I would add, of course, something similar to this document language should be in any document that is being cross tested.

Let's be careful out there!

I have a client who has an employee assistance plan that provides counseling for basically all employees. The company has one provider and simply gets a billing when anyone uses the service, the employer pays 100% of the cost. The company does not know who was treated or for what. This company has over 100 employees who would be eligible to participate. Should this be reported on the Form 5500.

A few months ago, I thought I had heard that someone in Congress was going to introduce a provision to establish a modified "GATT" interest-rate basis, since the 30-year treasuries are no longer sold and the "pseudo" 30-year treasury rate has fallen so low.

However, I cannot seem to find out if this is going anywhere soon. Has anyone heard of any recent developments on this?

Many thanks.

On May 3 '02 my sister in law asked for an early distribution from her Rollover IRA in the amount of $27K. Fidelity wrote two checks, one for $27K to her, the other for $3K to the IRS, both of which are described as "Early dist no excep" on her monthly statement. She never got her check, so on May 31 Fidelity voided both checks. Fidelity still reported the "transaction" on her statement as a "Reportable Distribution" of $30K, even though she never got the money. (Unfortunately, she never read her statement at that time).

Since she never got the money she needed, in June she asked for the $27K again to be sent to her (I believe she wanted it wired this time). On June 21 '02 $27,634.58 was wired to her and listed as "Early dist no except", and $3,070.51 was listed as "Create Withholding" on her statement. Once again, the funds never went through to her checking account. Three days later on June 24 '02 it looks like a wire transfer from her bank (not her checking account though) in the amount of $27,634.58 went back to Fidelity. On June 25 '02 Fidelity tried it again, and was successful in getting the $27,634.58 to her checking account. The problem is, Fidelity showed both of the $27K June transactions as "Reportable Distributions", and added to the May $30K, her total reportable distributions were $85,339.67, when her account was never worth more than $55K.

Fidelity sent the IRS a 1099 showing $85,339.67 in reportable distributions. She only received $27,634.58 (plus the $3,070.51 in withholding I guess). Is this something Fidelity can work out? If not, what does she do?

Carl

Does anyone know if it is permissible to change or modify Plan Names without changing Plan Numbers on the 5500 filing? This would be done as a result of a merger of 2 plans that resulted in a different classification of employees being transferred to the plan that will survive the merger, thus rendering the name of the surviving plan inaccurate. For the terminated plan, I will file a final report since all assets were transferred out.

I have not found anything to suggest that changing a plan name with an existing plan number can't be done, but thought I would check in and see if anyone knows differently. Thanks for any replies!

A Company sponsors a 401k and a Money Purchase Plan. They are both calendar yr. plans. The MP is merged into the 401k on 7/31/02. We are preparing a final form 5500 for the MP. Is an accontant's opinion required for the MP as this is a short plan year? (We will have an opinion on the 401k)

Thanks

A client of ours would like to adopt the EGTRRA amendment but limit compensation for allocations to $170,000. Could they adopt EGTRRA and then do an amendment to limit the compensation to $170,000? Also, for deduction purposes, could an amendment be adopted to limit compensation to $170,000?

I have a question regarding the one-time irrevocable election that is not treated as a cash or deferred election under 1.401(k)-1(a)(3)(iv) of the regs.

If a an employee elects, upon becoming eligible to participate in a profit sharing plan, to NOT participate in the plan pursuant to the one-time irrevocable election, does this then preclude such individual from participating in any other plans of the employer (both current and future plans)? That is the way I am reading the regulation, but I am not certain that I am interpreting it correctly. Anyone have any suggestions? Thanks!

Hi all - we are thinking about bringing in "a consultant" to review our employee benefits package. We are wondering what the cost of this may be and if it is even worth spending time on.

Would like consultant to come in on hourly basis - not to sell us something - just to give opinion on what we are doing right and wrong.

Can anyone give me some idea of what the Hewitts, Bucks, Mercers, etc. charge by the hour. (those are the only 3 I could think of just now)

Big fear is that we will start getting proposals and the amounts will send the boss into orbit. So if anyone can give me ballpark - or even real number they have been charged recently - I would appreciate it.

Send private message if you don't want to post.

thanks!

An employer client of ours submitted an incorrect 945 form for 2001. Apparently there was a distribution done & taxes withheld, but no remittance was done so line 4 was underreported. Employer then added this amount to their first remittance in 2002. This now creates a problem with the 2002 945. What is the best way to resolve?

If a participant takes out a loan and dies before the loan is repaid, can we write into our documents that the loan is in default immediately upon the participant's death? Cites would be helpful.

Is stock held by an employer in a rabbi trust treated as "outstanding" when applying the 30% rule under 1042?

Has anyone heard that 30% tax withholding applies if a distribution is made to a P.O. box address? We are hearing this from an insurance entity. When asked for a cite, they couldn't

supply but it came down from "on high" recently. :confused:

OK. Client has a plan with 100% of pay as the benefit which produces 14,166.67 (415 limit). Only active participant has 4 years of service and 28 years at retirement (for fractional accrual) BUT first year of the plan so only 1 year of participation.

For whatever reason, they are running projected unit credit.

Should the benefit for normal cost be 505.95 (14,166.67 / 28) and the past service be 3 * 505.95 = 1517.85??

OR, should 415 be imposed which means that because of only a single year of participation that the past service is equal to 1,416.67 and the normal cost is zero???

Thanks for any and all comments.

Under the updated claims procedure rules (for defined contribution plans), does anyone know whether a company must have its procedures in the plan document or whether it is sufficient that they are spelled out in the SPD? I thought it was fine to just have the claims procedures in the SPD, but I was not sure if the plan document could be completely silent.

Thank you for your responses.

Under the updated claims procedure rules (for defined contribution plans), does anyone know whether a company must have its procedures in the plan document or whether it is sufficient that they are spelled out in the SPD? I thought it was fine to just have the claims procedures in the SPD, but I was not sure if the plan document could be completely silent.

Thank you for your responses.