I have a defined benefit pension plan (plan year = 3/1 - 2/28; funding method = FIL) that had been frozen since 3/1/93. We defrosted the plan as of 3/1/2000. My Unfunded Accrued Liability (UAL) and Normal Cost as of 3/1/99 were $0. In defrosting the plan, we made an assumptions change and amendment change which created amortization bases of ($237,025) and $771,392 respectively. Thus, my Remaining Unfunded Liability (RUL) as of 3/1/2000 equaled $534,367.

However, when completing the Schedule B for the 2000 Form 5500, my equation of balance is off by $20,612. This $20,612 is my credit balance from the 1999 Schedule B.

How do I correct my valuation so that the equation of balance is balanced?

Would it be legal for a third party to sign the 5500 based on information provided if the employer is not available to sign forms and file them on a timely basis??? If not, what would be result of such an event?? Thanks.

DB Plan has NRA of age 60 and 5th anniversary

Participant enters the Plan on 7/1/94

DOB is 9/15/41

Vesting service is 1000 hours

benefit service is 1/4 year for 175 hours

175 hours is needed to avoid a break in service

Participant never worked 1000 hours in any Plan Year

worked 200 hours in 2000

has not worked during 2001

I know that if this participant was still active on 9/15/01 he would be 100% vested and his NRD would be 10/1/01.

What determines if he is still active on 9/15/01? Does he have to have 175 hours in 2001 to earn credit and avoid a break or does he just have to working on 9/15/01?

I am looking for good information concerning Variable Employee Medical Accounts. Who has had experiance with them. How easy to administer. Advantages and mainly Disadvantages.

Any IRS reg that states the what is and is not possible to do.

I'm considering a job offer and am being offered a package with and without benefits, including their 401K. My question is, is the employer required to allow me to participate in their 401K plan without matching if they have one?

Thanks

Is it common to have a seller finance the sale of shares to an ESOP?

That is, no bank loan involved. S-corp owner who wishes sell 100% ownership to the plan and take a promissory note for 15-20 years from the plan.

Thank you.

what are the risks associated with giving participants option to increase their deferral percentage or dollar amount during the middle of the plan year? can current election be revoked and replaced by a new election? if so, how frequently - quarterly, monthly?

Its been over a month now since I started to market Ameriplan USA, while I know there are many supplemental plans out there, I would like to get some feedback on various supplmental plans in the market place.

Thanks

www.mybeneftisplus.com/smclean/

Wondering if anyone knows or has heard the following:

New law effective 3/1/01 states that a distribution for under $8,000 does not require MA state tax to be withheld.

Any guidance would be appreciated. Thanks!

For a participant past NRD, does the law require you to give the

greater of actuarial increase vs. continued accrual,

or

just continued accrual ?

With the new tax bill being passed, I see that in most cases the MPPP will no longer be needed. The elimination of the 15% deduction limit for P/S plans makes the MPPP obsolete.

How would you get rid of the MPPP (assuming you have paired plans)?

1. Terminate the MPPP

2. Merge the MPPP into the P/S plan

3. Freeze the MPPP and keep it around just in case

I am curioius as to how others are plannig on handling this situation.

With the new tax bill being passed, I see that in most cases the MPPP will no longer be needed. The elimination of the 15% deduction limit for P/S plans makes the MPPP obsolete.

How would you get rid of the MPPP (assuming you have paired plans)?

1. Terminate the MPPP

2. Merge the MPPP into the P/S plan

3. Freeze the MPPP and keep it around just in case

I am curioius as to how others are plannig on handling this situation.

A female participant in a pension plan has a restraining order in place against her soon to be ex-spouse (they are still currently married, not legally separated, etc.).

In order to receive her pension distribution, a spousal consent is required. However, the restraining order forbids the husband from ANY contact with the wife.

How does one satisfy the consent requirement for a distribution in this situation since for all intents and purposes, it will be impossible to obtain a spousal consent to the lump sum distribution?

Does anyone have any experience with getting estimated social security retirement benefits from www.ssa.gov? If so, do you know of a way to determine them as of a date different than the last day you work? For example, if someone was 55, wanted to stop working (and thus have no wages) at age 58 and wanted to know what his benefit would be at 62, is there a way to calculate that other than writing to the Social Security Administration?

An employer wants to have a 401(k) Plan with 1 year of service requirement for entry on the 401(k) deferral piece. THey would also like to, in the same plan, have a new comparability formula profit sharing piece with 2-years of service for entry.

For 401(a)(4) testing on the profit sharing allocation, do I need to include employees who met 1 year of service for deferrals, but not 2 years of service for the profit sharing piece???

What if I give the 401(k) eligible participants a safe harbor 3% contribution, then do i need to include them in the profit sharing 401(a)(4) testing?

thanks!

Looking for a way to manipulate a comma delimited or other type of file generated from TRAC2000 in Quantech for testing purposes.

I'd appreciate any tips.

Thanks, JCatt

A plan sponsor establishes a new plan as of the 2000 plan year by adopting a new prototype document. The prototype document is submitted for a GUST determination letter in 2001 but has not yet received a response. For the 2000 plan year, ineligible employees are given a profit sharing contribution.

Is this situation eligible for correction under the IRS Self-Correction Program (SCP) due to the prototype having applied for a determination letter, or is it ineligible for SCP? If it is ineligible for SCP, what actions should the plan sponsor take to correct the contributions for the ineligible employees?

I am a retired federal employee and now work for my county government. Our board enacted an ordinance for a new pension plan for all county employees, but specifically states that former federal employees cannot participate. Are there any specific federal or state guidelines which address their ability to do this??

If a client wants to terminate a profit sharing plan and start a 401(k) plan. Is there a required waiting period between the termination of the profit sharing plan and the starting of the 401(k) Plan. I don't think so and I couldn't find any data on the subject, but I just need to be sure.

Thank you

James

Does anyone have an example of "an actuarial statement of valuation showing compliance" with Section 401(a)(12) and the regs under 414(l) for Form 5310-A question 4(B)?

Does the statement need to be signed by anyone? If so, by whom?

Does the statement need to show specific numbers?

How does the statement "show" compliance?

Is it enough to simply have a statement that the action complies with 401(a)(12) and 414(l)?