Could anyone recommend a publication or organization for helping TPA's and/or their clients maintain regulatory compliance? It seems like a full-time job staying on top of all the requirements. I need to stay ahead of federal and New Jersey state regulation.

Does the following excerpt from Rev. Proc. 2000-20 mean that sponsors of regional prototype plans do not need to send annual notices or the IRS certification letter in January of 2001 that was required in January of 2000 (required by Rev. Proc. 95-42 and 89-13)?

This revenue procedure simplifies the record keeping requirements that applied to regional prototype plan sponsors under Rev. Proc. 89-13 and applies these simplified requirements to all sponsors. Under this revenue procedure, every sponsor will be required to maintain or have maintained on its behalf, and to provide to the Service when requested, a list of the employers that have adopted its plan, but sponsors will not have to provide the annual notices that were required by Rev. Proc. 89-13.

Employer wants participants to enter the plan (make elective deferrals) as soon as they have completed 1000 hours. The employer doesn't want the employees to have to wait for a 12 month period to pass. At the same time, the employer doesn't want those who work less than 1000 hours to become eligible. Can this be done? If so, how do we define the eligibility and entry date requirements?

I have two 403B accounts. One with Great American Life Insurance Corporation and one with Travelers Insurance. Under my account with GALIC,I took a loan to purchase a house. Can I transfer the loan and assets in my GALIC account to Travelers in accordance with Section 1035 Exchange? I am not happy with GALIC and they have refused to execute such a transfer.

If an employee does not give notice upon termination, is the employee entitled to any payouts for unused paid vacation days?

Does an employee achievement award plan intended to satisfy Code § 274(j) have to file a 5500?

Does anyone know whether an employee achievement award program intended to satisfy Code § 274(j) is an "employee welfare benefit plan" for purposes of ERISA?

I have a participant who is a commissioned employee. Sometimes, he earns little or nothing and his paycheck will not cover a loan payment as medical insurance in arrears goes first, then SS, then medicare etc. For weeks there might not be enough for a payment and either none of or a piece of the payment is applied. Then he earns again and a normal payment is deducted. How should we handle the none or little payments? How do we make up the loan payment..require him to write a check?

Four years ago, A shareholder, who owned 10% of the company and is also an employee, sold 40% of his stock to an ESOP. In a transaction where the ESOP Acquired 40% of the Company. This Shareholder did not elect Sec. 1042 deferral treatment and has participated in allocations of stock in the ESOP. In December 2000 This shareholder sold his remaining stock to the ESOP. If this shareholder remains an employee and elects Sec. 1042 deferral treatment, (1)Can he receive an allocation of stock in the ESOP for the year 2000 (assuming only shares acquired by the ESOP in the first transaction are allocated in 2000)? (2) Could he participate in any remaining allocations of stock acquired in the first transaction in future years?

1. Have there been any changes to DFVC as a result of the implementation of E-Fast?

2. How will reasonable cause letters for a late fringe benefit filing be handled under the new system. (The plan in question is not required to file under ERISA -- just the IRC)?

Thanks for your help.

Under ERISA Section 407 a retirement plan may hold qualifying employer securities. Under the definition of a QES is the term "stock". I am unable to find a definition of stock. Would an interest in an LLC be considered stock for these purposes if the state in which the LLC is in treats as a corporation?

There is no folly of the beasts of the earth which is not infinitely outdone by the madness of men.

Melville, Moby Dick

What happens if someone chooses 10 year distribution of their 457 account and there are funds leftover after the ten year period? Or are all funds distributed in the tenth year regardless of the amount?

Thanks.

This may sound like a really stupid question, but I can't find anything on point! Client sets up a n-q deferred comp plan for general manager. When gm starts taking payments from n-q deferred comp plan, client allows 401(k) deferrals and employer profit sharing contributions based on "salary" from deferred comp. This seems to make no sense as you normally don't get payments under a deferred comp agreement until termination of employment and, of course, you can't participate in the qualified plan if you aren't employed! Anyone have any reference, or is this just a common sense error. (If it does work....pretty neat idea for continuing deferral of income!!)

Does anyone have any recent experience with deferred comp plans that didn't file initial notice with DOL? Failure then results in 5500 requirement which, of course, were not filed. I had heard that the DOL had an amnesty program for this kind of thing, but I want my client to proceed carefully.

Is my former employer not required by law to offer COBRA coverage to me? There were only 8 employees?

I need help. I have a Hospital that is a 501c3 with a frozen dc plan. All assets are pooled in a multiple employer trust administrated by a regional bank. This trust assoc. is for municipalities and hospitals owned by governments. Frozen assets are in one account (balanced fund). What are the compliance issues for the Hospital, it's board memebers and ee issues with 404 c regs.? Who is the plan fiduciary? Who owns the assets? No disclosure for adm. fees, asset fees, etc. Is this employer subject to ERISA? Thank you in advance.

The two year old class action lawsuit against Nasdaq marketmakers/brokers has apparently been settled and checks were delivered this past week. Nice year ending surprise for those that signed and returned the forms. Apparently just a couple of trades got you a check for $25 and active traders could get $4,000+.

Question 1: Assume the check you receive is large and based upon trading activity in an IRA. The check indicates it was related to an IRA. Can these funds be deposited into the IRA as a kind of rollover? It would seem that the settlement represents a court view of your additional profit from the alleged pricing abuses. Therefore if the "abuse" had not occured, theoretically the IRA assets would be greater. I can remember a custodian accepting a misdirected dividend check (sent to residence and not the custodian... too long a story to explain) to be re-deposited to the IRA.

Question 2: What is the likely tax status of settlement checks? Many of the checks will be based upon standard brokerage accounts. The letter cites IRS Code 468B "whether a distribution to a claimant is included in the claimant's gross income is generally determined by reference to the claim in respect of which the distibution is made..." Wow, that must be clear to everyone!

Knowledge is great, but conjecture and analogies are also welcome.

Why did my company not offer COBRA to me, when I was told a few days ago that they had to?

I have a client who is getting ready to distribute funds to a terminated employee who owes the company money. The client asked if they could net the amount owed the company out of the retirement plan distribution. Has anyone had this situation before?