Hey Everyone,

I was wondering if camp ( music camp, summer camp, ect.) would fall under dependent care.

Any input wound be a great help.

Thanks in adavance,

Motor

I have a client who I had to answer "Yes" on the question on Schedule I regarding whether they made untimely deferrals. The untimely deferrals were for 5 out of 80 people and only occurred for one payroll period. Do I have to file a Form 5330 with the IRS?

The final regulations on loans (1.72(p)) discuss the concept of paperless loans and the conditions in which they will be pemissable. However, the Regulations say nothing about spousal consents in the case of J and S plans. Wouldn't this be an issue precluding a paperless loan in the case of these J&S plans? Any comments would be appreciated.

I currently own a $50K note I want to sell at a discount to my Roth IRA, ok? What if I purchase a Note from someone else?

Can my Roth Flip investment properties?

I purchased an option on a mobile home park for $1000.00 and sold the option for $10,000.00, Is this a fully tax free event?

What are some good companies to get an IRA account?

My husband's financial adviser sent me stuff from Putnum about IRAs, but I noticed that I can only choose from Putnum funds. I am rolling over my 401K to a rollover IRA and want a variety of funds to choose from. I really like Fidelity and Janus funds.

I've thought about opening an IRA account at the credit union or at the bank where I have my checking and savings accounts.

I understand the difference between traditional IRAs and Roth IRAs, but none of the literature seems to address how to open an account, what funds are available, and how to manage it.

Thank you in advance for any advice.

Zelly

It is my understanding that the only grounds for employees of private employers to opt out of social security is as a member of a "recognized religious group," and that it is necessary to waive SS benefits by executing IRS Form 4029.

I am seeing an increasing frequency in clients' employees claiming exemption from Social Security taxes and want to make sure that this is the only approved means to opt out of the system.

Any comments appreciated.

I'm curious what others are doing. EGTRRA eliminated the user fee for new plans if filed during the first 5 plan years. I have some new plans that are cross tested that I was about to submit for FDL. Seems like I should wait until 1/1/2002 to avoid user fee. Any comments?

Effective 1-01-02 one may use either a 401(k) or a 403(B) along with a 457 to contribute a combined maximum of $22,000.00.

What other types of plans can be used along with a 457 to accomplish the same objective?

Best wishes.

Joel L. Frank:)

A doctor in a C corporation profit sharing plan would like to elect out of the profit sharing contribution for the year since the doctors actually fund their own contribution amounts. The doctors comprise the top rate group in the plan. The document allows for participants to make an election not to participate in the Plan, however, it is silent on when the waiver must be signed.

Question, 1. can he waive participation for the 2000 plan year at this piont in time and 2. Can I still include him in the cross-test with a zero contribution or does he fall out of the test.

Any help is greatly appreciated!

Under the new top heavy rules effective for 2002, distributions are only counted for one year except for "in-service distributions". However, does anyone know whether these are true in-service distributions (after age 59 1/2) or if distributions due to ADP and/or ACP failure will be considered as "in-service distribitions"?

Thanks!

Government DC Plan is a Money Purchase plan- employer contributes x% and Employee is required to contribute x% (these are considered pick-up employer contributions). Employees get a bonus at the end of the year and employer would like to amend the plan to allow employees to make a one-time irrevocable election to defer all or a portion of any bonus amount into the MP plan. Can you do this? Can employee make election for each bonus each year (I don' think so). Can this be part of a Government MP Plan at all?

Can a plan sponsor elect to charge terminated participants (who still have an account balance) with a record keeping fee-- and at the same time not assess active participants with a record keeping fee?

Plan currently does not impose a participant record keeping fee. If, however, plan sponsor implements the above, can they only do it prospectively? I.e., Charge this fee to participants who terminate after the effective date of the change.

Hi Everyone:

I have been given the dubious honor of drafting a charter for the 401(k) committee.

Does anyone have a charter or guideline for their committee that they would be willing to share?

Electronically is great, otherwise, please fax it to me at 858-452-4258.

Thanks in advance.

Darryl

dweiss@orincon.com

Here's my wondering! With all the new litigation of 401(k)'s, we have seen numerous cases, such as the First Union case, where companies have been required to hire an independent investment advisor to monitor their 401(k) plan's investment options. Although this is not a requirement the IRS has burdened plan sponsors with, I would like to know what these plan sponsors ARE required to offer their employees in way of investment advise. Can anyone tell me what the law says, and the code in which this these requirements are located???

Heath

heathhightower@hotmail.com

Here's my wondering! With all the new litigation of 401(k)'s, we have seen numerous cases, such as the First Union case, where companies have been required to hire an independent investment advisor to monitor their 401(k) plan's investment options. Although this is not a requirement the IRS has burdened plan sponsors with, I would like to know what these plan sponsors ARE required to offer their employees in way of investment advise. Can anyone tell me what the law says, and the code in which this these requirements are located???

For purposes of a terminated DB plan cov'd by PBGC, is there a distinction between participants who are "missing" (sec. 4050) and participants who just don't respond to the notice requesting that they elect their benefit distribution forms? We have a fairly old termination (several years ('96/'97)) and a few genuinely "missing" particpants, and a few other participants who have just never returned paperwork re: the distribution.

Before the effective date of the current ERISA section & regs on "missing participants" (i.e., before 1/1/96), was it an option for the DB plan sponsor to take possession of lost participants' plan assets upon the plan's termination and keep them segregated on the books of the plan sponsor until the participant was located or came forward? Current ERISA 4050 only allows 2 alternatives: (i) annuity, or (ii) turn benefits over to PBGC, but several people have mentioned this alternative to me as an option.

Thanks.

Need clarification on the Form 5500 instructions for Schedule H, 4i.

Plan's only investment type is mutual funds.

The instructions discuss what are assets held for investment, and identify 7 exceptions. Mutual funds are listed as an exception.

Would the answer to H, 4i be NO because of this? If YES, why?

We have a safe harbor cross tested plan with a 401(k) feature, matching feature which one of the NHCE's terminated with less than 500 hours and receives a 3% safe harbor contribution (she's not eligible for the add'l PS contribution). What should be included in which test? Should her EBAR (including 401(k), match and safe harbor allocations) be included in the 410(B) test? Should she be an excludable employee because she termed with <500 hours? If there were 8 NHCE's, all 8 would have their EBAR's listed, but the avg bene test be calculated by dividing by 7 non-excludable employees? In other words, all 8 NHCE's EBAR would be totaled and then divided by 7 - the number of non-excludable employees?

What are the rules on changing an open enrollment date to one month later?