a self employed person learned after the completion of 2001 that he is in a good position to implement a db plan for 2001.

I am not sure if one needs to have a signed plan document by 12/31/2001 or a summary of the primary plan provisions in place. I have heard of some situation where having the basic plan provisions in place was sufficient. I don't know if this is that situation.

Any comments or suggestions?

Hey!,

This here is a pretty straight forward question that I can't seem to find a straight forward answer to:

If an employee gets married in September, are claims for the newly aquired spouse, from the months previous to the marriage(within that plan year), payable through the cafeteria plan?

Thanks in advance.

1. Is a Simple-401(k) plan a qualified plan?

(I thought that a qualified plan had to be either a defined benefit plan or a defined contribution plan. A Simple-401(k) plan is neither ...right ??)

2. Do the Simple-401(k) plan assets have to be held in a trust ?

3. Does a Simple-401(k) have to have a plan document, adoption agreement, and determination letter ?

4. It's my understanding that a Simple-401(k) that has participants other than the employer/owner must file a Form 5500.

5. Can a Form 5304-Simple or Form 5305-Simple be used to set up a Simple-401(k) plan ?

6. Do participants have to be given a Summary Plan Description?

7. In order to terminate a Simple-401(k) plan, must all the regular termination steps involved in terminating a qualified plan be followed .... or can the employer simply tell the participants that the plan has terminated and then disburse all the account balances ?

Oh my, that was a lot of questions. I'm tired.

My employer wishes to change the 401K plan provider/trustee.

However, I understand that my non-employer stock in my current plan will have to be liquidated, in order to, facilitate the transfer of assets to the new plan provider. The new plan does not have a provision for individual securities, but only mutual funds.

My personal broker tells me there is a rule that does not force a participant to sell securities at an inopportune time.

What is the law in this matter?

Client has discovered operational defects in 401(k) plan with respect to the last three or four years. Client wants to fix the defects. It appears that client amended and restated its plan by adopting a volume submitter document sponsored by a pension administration firm in 1998. That firm has since gone out of business. Client can only find its adoption agreement and no copy of the actual plan document or the accompanying IRS letter. Can client amend and restate by adopting a new volume submitter document and then submit the plan for correction of the operational defects under the new letter??? Contacts with the attorney handling the dissolution of the pension administration firm with respect to plan doc/ letter/ etc.. have been unsuccessful.

Has anyone attempted to take the position that employer-sponsored domestic partner coverage funded through an insurance arrangement is not subject to ERISA (and, accordingly, that the claims procedure regulations do not apply to claims by domestic partners) ?

Presumably, however, if I succeed in this argument, state insurance law is no longer pre-empted.

Okay - worst case scenario - you are a financial institution, not a TPA, you have a client who opened an account with you in 1997 by signing at that point a document that "certified" the trustee powers, and indicated that their plan was established in 1988.

Now - the client has changed CPA firms, and the new CPA would like to perform the annual calculations, but needs the document to follow the formula - YOU DON'T HAVE A COPY, the client seems to have lost their's if they ever had one, and the prior custodians seem to think that the docs are the responsability of the new custodian (you).... now what?

Has anyone ever had a situation where you cannot find the plan documents as originally drafted? Client is a sole-prop and files 5500 EZ each year.

Idea's? Suggestions? In the event we need to go to the IRS or DOL - who would be named in the filings as the original preparer if we are not absolutly sure ourselves?

Thank.

I am new to working with IRA products. Is it possible to convert a profit sharing plan to a SIMPLE IRA or SIMPLE 401k plan? If so, what all is involved in converting the plan?

Any suggestions on websites where to find information on company's benefit plans (both qualified and nonqualified plans)?

May a self-funded health plan impose different waiting periods for eligibility between salary and hourly employees? I would appreciate a cite to back up any opinions. I thought that as long as you treated similarly situated individuals the same it was OK. However, an earlier post to this board (2or 3 years back) indicated that the IRS had issued a determination letter saying this was discriminatory in a self-funded plan.

I have creditors calling about my credit. I want to put money in a ROTH IRA for my son, but I don't want creditors to be able to see what savings I have. Is there any way they can trace the money I have in my ROTH IRA?

I would like to know if anyone has ever run accross a good survey to distribute to a group of participants to determine their satisfaction with 401(k) plan, services, investments, etc. Trying to get eligible employees not currently participating, to participate.

In 1998, could an individual roll over a traditional IRA into a SEP? My research leans me towards no, but I'd like to be sure. Thanks.

After 2001, we must use the new Form 5310 to submit a terminating plan for a DL. However, that form does not appear to have been released yet. Has anyone received any advice about what we are supposed to do in the meantime, or as to when the new form will be released?

Does anyone do or know of a TPA who handles VEBA administration, ie. document service, 5500, etc?

Does the recent tax law change permit the rollover of after-tax 401(k) contributions and earnings to an IRA?

I have a physician client who is trustee of his retirement plan. There are several participants in a pooled investment arrangement (no direction). The client/trustee manages the plan assets for himself and the other participants (not wise, in my opinion). He wants to make margin purchases and short sales. Are these allowed under ERISA? Since purchasing on margin is essentially a loan from the brokerage house, could we have unrelated business income? Other ERISA issues? Thanks.

Has the IRS just issued new tables for calculating required minimum distributions?

If not, are current tables under IRS Section 72 still applicable?

We currently have this question in our Pre-Screening Application:

Have you been charged with any criminal offense for which you are awaiting disposition , termination, further court proceedings or final resoltuion?

Does anyone know if we can ask this? We are a home health care organization and the pre-screening process is used to determine who will be admitted to our training program. All graduates of the training program are guaranteed employment.

Carlos Rivera

CFO

Cooperative Home Care Associates

CRivera@chcany.org

I was unable to view the ASPA webcast last month on deduciton issues (exam conflict). Did anyone see/hear the web cast? What did you think?

I am thinking about accessing the recording and would like either a "thumbs up" or a "thumbs down".