Is antone familiar with CA brown law?

If so , would you elaborate or point me in direction of code cite

Thanks

Lexa

Is anyone familiar with California's brown law?

If so, could you elaborate; a cite would be nice

thx

Anyone hear of a plan feature that allows employer to contribute extra % of salary based on company performance to pre-determined bonus targets, or based on improvement over a historical base, e.g. like gainsharing except that instead of paying cash, company pays more into the 401K?

I understand EGTRRA 2001 permits the owner of a 401(k) to rollover the plan balance into a 403(B) effective in 2002.

Has the IRS issued any regulations on this provision of EGTRRA?

Must IRS issue such regulations before plan administrators may put the above rollover provision into effect?

Is a participant's ability to do such a rollover contingent upon either or both plans being amended to authorize these types of rollovers?

Is amending the plans as above or authorizing the type of rollover in question optional for either plan administrator?

Anyone have a solution:

Traditional IRA converted to Roth Ira in 1998 under four year rule

Taxes have been paid on 3/4th's of the amount

Current value (due to stock market) now 1/2 of original amount

Upcoming year will require payment of taxes on the 1/4 th amount that does not exist in account-- Any way to avoid the tax situation.

Recharacterize??

Withdraw all funds??

If anyone has a solution I would appreciate the info and the reference publication.l

I recently changed jobs and now my 401K is sitting in limbo. I was wondering if I can roll it over into a Roth IRA. If so since I have never had an IRA before what kind of an IRA do you suggest I roll it over into. Also is there a minimum that I must have in my 401K to roll it into a Roth IRA.

I work for a manufacturing company in Wisconsin. Because of the large increases in our health insurance from the past year and no relief in site from large increases in the future, my company is looking into a partial self-funding medical plan. We have 145 employees and insure most of them and there families. While we are not a difficult company to insure, we are not a young company. Average age here is 30-50 years old and we have a low employee turnover rate. Considering our size and age, would a partial self-funding plan be a good way to reduce our insurance costs. Also, what are the pro's and con's, and what surprises could we run into. We are working with a broker who we have been workking with for 20 years.

My client is interested in knowing the percentage of §401(k) plans that are operating on a calendar year plan year. I have provided anecdotal statistics based on my personal observations (90%+) but the client would like something more definitive when presenting to "higher ups". Does anyone know of any source for an accurate answer to my client's question?

Client dies at 75 and had not yet taken their full RMD distribution for the year. Beneficiary is a non spouse; I know the RMD is taxable and payable to the beneficiary. Does the remaining RMD amount have to be removed before or after the assets are moved to a beneficial IRA account.

Thank You.

Are unallocated shares within a leveraged ESOP considered plan assets? If yes, where would you report this amount on the 5500?

Let's assume that an employer has a high plan-imposed limit on how much highly compensated employees can make as elective deferrals. Also assume that the plan almost never fails the ADP test. The plan has historically stopped ALL contributions once the participant's compensation exceeds the 401(a)(17) limit (i.e., $200,000 for 2002). Most top execs max out on the 401(a)(17) limit by mid-March when a bonus is paid. The question is: if the plan introduces catch-up contributions mid-year, can an exec who has contributed the maximum $11,000 elective deferral and reached the $200,000 limit on compensation before the catch-up contribution is introduced to the plan, be permitted to contribute the $1,000 catch-up contribution shortly after it is introduced under the plan?

Did EGTRRA address whether a distribution from a grandfathered 457 plan maintained by a credit union would be eligible for a rollover to an IRA in 2002 ? If EGTRRA did not address this any thoughts ????

A question was raised regarding mandatory employee education for 401(k) plans. The information I received is that there is a 2 hour per year requirement, found under Code 791. I have not been successful in locating any code regarding mandatory employee education. Has anyone heard of such a requirement?

Help!! I'm sorry, but I am not in my office and do not have access to any of my research materials. I have a participant in a 401(k) PS Plan who wants a distribution of only $3500.00. Her account balance is much greater than this. She is NRA. Her account, however, consists of after tax contributions with related earnings as well as 401(k) contributions and related earnings. HOw do I allocate the $3500 distribution among taxable and nontaxable amounts?

Software company.

Owners left the country, abandoning the business and 401K

They left no Successor Trustee

Pension Administrator is not helpful because there is no one to bill for the fees.

DOL is slow to help

I need to be named as Successor Trustee as quickly as possible. Is the DOL the only body that can help? Can 100% of plan participants vote to take an action?

Thank you for your help. R. Blair, Sacramento

We have an over 65 employee who voluntarily canceled our group health care coverage during annual enrollment in 1998 to go on a personal Medicare HMO risk plan. The HMO is pulling out of the Medicare business in the county where she lives 1/1/02. She has asked to enroll due to a loss of other coverage. We have incorporated the Section 125 events into our plan to allow enrollments mid-year. However, Section 125 states loss of other GROUP healthcare coverage as the event, not loss of personal coverage. I'm aware that HIPAA also states that there is a special enrollment period for someone who declines enrollment due to other coverage (including personal coverage, I presume). Any suggestions or advice on whether this is permitted, and what do you base it on?

If I have made non-deductible contributions to a regular IRA, are they eligible for conversion to a Roth? If so, any complications?

My company (Company A) purchased another company (Company b) effectively 1/18/00. This was an asset purchase. Company B's plan was terminated as of that date. The participants could immediately rollover their account balances into the Company A plan.

The acquired participants could also enroll at the next enrollment period which was 4/1/00. Some participants terminated between 1/18/00 and 4/1.....of these, some were HCEs. Should those terminated participants be part of Company A's ADP/ACP test?

Technically, they were employees of Company A, but left employment prior to enrolling.

This is specifically important in determining if some terminated HCEs of Company B should be included in Company A's test. Any advice would be much appreciated. I've been told this is a "gray area of the law". Thank you in advance.

Can a 457(f) deferred compensation plan condition reciept of plan benefits upon a participant's agreement to render consulting services to the employer, after benefits have vested?

If the participant refuses to do so, can the plan call for "forfeiture" of already vested benefits?

This doesn't sound right to me.

A plan requires that the act equiv mortality table be the 1971 GAM for males projected to 1978 using scale E.

I applied the scale incorporated in my spreadsheet program and it resulted in a small change in the q's, relatively, and a small change in for eg. the age 65 annuity. I don't recall exactly, but I believe the impact on the age 65 annuity was maybe 1% or so.

My questions are:

1. Does it make sense that the impact would be this small?

2. Does anyone have a copy of the scale E and know where it originated?

Perhaps it wasn't applied correctly. My feeling is that applying a mortality projection scale requires the factor (less than one) to be multiplied by the nth power, where n is the number of years projected out. i.e. in my case it would be 7 (1971 to 1978). Finally this factor is applied to the q's resulting in lower q's, thus higher annuity factors.

Any comments?