I would like some thoughts about the best ways to train new employees in the 401(k) TPA business. We are a small TPA firm without a large training budget. In the past we have primarily trained new employees by pairing them with seasoned employees in our firm. We would like to augment this with a heavy dose of technical details, and wondered what would be best. There are so many choices - ASPA certifications, the Pension Answer Books, CCH, seminars, reading the whole darn IRS code, etc. etc. If you had to recommend one thing to a new employee, what would it be? Thanks!

I worked at a nursing home as a med tech (passing medications to all of the residents). I had an episode on 11/18/01 at home. I went to the hospital and was diagnosed with 3 benign brain tumors and seizure disorder. I have been out of work since then. I had a "Status Epilepticus" which lasted for 3-4 hours on 1/5/02. I applied and got short term disability. It lasted until 2/23/02. I was terminated on 2/26/02. I have applied for long term disability but have not heard anything yet. I was also told that I would have to go on COBRA as of 3/1/02, which I have not recieved any papers on. I am asking if the nursing home has a right to terminate me or if they have to give me more time to adjust to this illness instead of terminating me?

When is a person or party determined to be a disqualified person or party in interest (with regard to an ESOP)? At the time of default on the promissory note or at the time the note was signed (this individual was a disqualified person at the time the note was signed but would not be considered a disqualified person at the time of the default - if the status is also determined at default) When is "disqualified person" or "party in interest" status determined with regard to an ESOP? Thank you for any insight.

I have a employer (doctor with his own practice) who sponsors a profit sharing plan. Half way through his 2001 plan year (calendar year) his practice was merged with a local hospital who sponsors a 403(B) plan. He was the only employee that received income from his practice during the entire plan year. Am I correct in calculating his maximum discretionary contribution to the profit sharing plan as 15% of eligible compensation less 403(B) employee contributions?

My mother is 69, but she will be 70 in June 2002 and 70 1/2 in December 2002. She has a traditional IRA and would like to convert it to a Roth. She will file MFJ with my father, and their modified AGI will be less than the $100K max.

Can she convert this year even though she is due to begin receiving RMD's in 2002?

If she can convert, will she be required to take minimum distributions from the Roth in future years?

Thanks!

We have an employee that enrolled for HCRA. He based his contribution on the fact that he was going to have Lasix eye surgery. He got as far as the operating table and the eye doctor said he thought he should not have the surgery. Now this employee has all this money in his account. Can he stop further deductions? Thanks.

I've got a traditional IRA that was established with money from a 403B account from a previous job. Can I contribute to it every year and to a roth IRA?

thx!

We have over diversified five participants in an ESOP Plan. We were provided with the incorrect beginning balances which overstated the amount eligible for diversification.

What do you suggest that we do to correct this?

The stock is closely held and not a good market. But do we repurchase the stock that was overdiversifed at the price that we sold it at...

OR do we give the participants the option to leave the stock diversified and just subtract that amount from future eligible amounts....:confused:

I was reviewing my 1040 tax instruction book and discovered I CANNOT take a Roth contribution as a tax deduction. I am wondering if I can still contribute to my Roth this year even if I take the $2,000 deduction for my regular IRA?

I would like to know if a ROTH IRA can purchase and own a Property. I have a ROTH and I want to invest in another property. I was told that the ROTH could do that for me. Is that true?

Last month I paid off the remaining balance on a $34,000 loan on my 401K. Pay off was $20,000. I did this because my plan only allows one loan at a time. This month I applied for a $49,000 loan. (I have $100,000 vested in the plan.) My TPA said I could only borrow $25,000 because of Section 72P of the IRS code. He says he must reduce my request by the amount that was owed on the previous loan one year ago which was $24,000. I do not read Section 72P this way as this rule "seems" to refer to outstanding loans. If I am right in believing I should be able to borrow $49,000, how do I convince him he is wrong?

Thank you

During the remedial amendment period may the plan administrator elect or not elect the top-paid group election for determining HCEs without specifying the election until adopting the GUST document.

My ex is retired receiving pension. His company will not send payment to me since no quadro was filed on my behalf before he retired. It was listed in my divorce order but attorney did not file anything. Went to court and judge gave order for my ex to pay me directly cash payment each month. Can anyone tell me if my ex can substract amount he pays me from gross income. give irs

my ss and address and then I claim it as ordinery income. Ex want s to take his taxes out at his tax rate before he pays me check. HE is in highest bracket so not much will be left to send if he does that. I need documentation of how this can be done without losing a big % of my share.

:confused:

Do employers who offer EAP plans need to make the EAP available to Cobra beneficiaries? Does it matter whether it is a phone line only plan vs. 3 session EAP?

I added the new 94 mortality rates to my apr spreadsheet and come up with these rates at 6%. They're monthly.

Age 55 157.7916

Age 60 144.9395

Age 65 130.3888

I don't have anything to check them against. Little help?

Chip Brown

At first glance, it appears that the 6621a2 underpayment rate is a floor rate of return to be used in determining the lost earnings amount under VFCP. However, the reg's state shortly after that that

... "For a participant-directed defined contribution plan, the lost earnings to be restored to the plan is the amount that each participant would have earned on the principal amount from the loss date to the recovery date. However, for administrative convenience, the lost earnings amount for a participant-directed defined contribution planmay be calculated using the rate of returnof the investment alternative that earned the highest rate of return among the designated broad range of investment alternativesavailable under the plan during the applicable period."

Based on the use of the term "lost earnings" it would seem that the 6621a2 underpayment rate is not the floor rate of return. Any suggestions?

Can someone suggest a source of boilerplate employee benefit surveys? I am interested in developing something to get a better handle on whether we are meeting our employee's needs (and whims) ... I plan on doing the project in-house.

Thanks!

A profit sharing/401(k) plan elects to meet the nondiscretionary safe harbor contribution rules.

Does the safe harbor contribution satisfy the requirement that the PS plan make regularly recurring contributions?

In other words, if the employer also elects the discretionary PS contribution feature, must that separate type of PS contribution also be regularly recurring?

Has anyone had experience with offering employees a payroll deduction progam for an IRA not sponsored by the company? What issues are there -such as who is the IRA sponsor, what licensing

issues are there,etc?:confused: