I used to be a member of the IBEW Local #280 and participated in the Cascade Pension Trust Fund. I have not contributed to the plan for over five years nor have or can any of my employers contribute to the plan.

I want to rollover the funds that are in the account. The plan administrator says that I am over the $5,000 dollar amount, therefore rollover or distribution is not permitted.

The problem is that my money that is in there is detorating for the reason that there is now monies being put into the account.

Anyone have any ideas of legal rights?

Help!

I would like to know the difference between a regular IRA and a Roth IRA, the AGI limitations and the benefits and/or disadvantages between each other and if I can contribute to a Roth IRA after I max out the contributions to my 401K plan.

Existing tiered allocation plan defines several classes.

QUESTION 1

Some of the classes recieved a dollar contribution to be allocated proportionally to the class members compensation(comp on comp). Other classes contribution was allocated as a flat dollar amount per class participant. I beleive this is OK, but I would like some reassurance that I am not wrong.

QUESTION 2

One of the classes has as sole participant the wife of the owner. As such she is HCE. The census shows her with over 1000 hrs and $0.0 compensation. Therefore she got no allocation and only 50% of HCE were benefiting under the plan. As such the plan passed the tests. However, it would have failed them if the wife was benefiting.

The plan sponsor claims that the TPA and accountant blessed the situation. However, it seems to me that the "trick" would not fly in an audit. Any comments?

As an alternate solution: wouldn't be better to give the wife a salary and exclude her as a class? (Yes, I know they don't like to pay FICA)

Thanks for help.

-A partnership is sponsoring a 401(k) on a calendar year basis.

-The partnership has a fiscal year end of 4/30/2000(yes, it is not a mistake, I found out that it is possible even though until recently I did not know it)

-As every year, the partnership is on extension and will file the partnership income tax return just before 2/15/2001.

-All participants deferred during 2000 excepting the parteners. As every year they will make the deferrals close to the fiscal year end.

In a nutshell thy were told by previous TPA that is OK to defer in February 2001 for the plan year end 12/31/2000. This is 2 1/2 month after the plan year end.

Any comments about the legitimacy of above situation?

PS: The partnership is an accounancy firm. They claim that they never know the partnership income until close to the extension date

Thanks.

We have an employer who adopted a money purchase pension plan effective November 1, 2000 with a 5% contribution. When the Company computes its 2000 contribution does it take into account only salaries since November 1, 2000? the plan defines compensation from the first day of the plan year, not just when the employee became a participant. In addition, is the $30,000 limit prorated for 2 months of the year?

Can i enroll for cobra on-line? What is the adress?

I have a cross-tested 401(k) profit sharing plan that failed the ADP test. We are returning excess contributions to the HCEs. Do we have to include the returned amounts in the HCES benefit percentages when running the average benefits test?

Pros & Cons of differences between 401(k)s and 403(B)s? --Comparison Chart

I have heard that C-Corps who have a 401(k) plan and an ESOP are entitled to a deduction limitation of 25%. I thought it was 15%. Can someone explain to me why the limitation is 25%? Is it because an ESOP is a MPP? Also, would the fact that the ESOP is leveraged make any difference?

Does anyone have some helpful information on converting FDP DOS to Quantech 6.0?

I'm having some problems with participant loans as well as vesting.

Annuities will be purchased in conjunction with terminating a DB plan. The plan has the early ret provision of age 55 and 10 years (1000 hrs= 1yr) The participants are not being terminated from employment.

Must the annuity contract contain the same early retirement provisions of the plan so that all participants can eventually reach ERD via age and service? Does the answer depend on whether or not there are ER subsidies? There will be no employer reversion.

Right now the annuity contract states that ER is available but only based on age 55 and 10 yrs of service. Service is the service earned as of the plan term date.

In an integrated Profit Sharing Plan it is possible for a participant with compensation >$170,000 to get a contribution larger than $25,500. Is it also possible to do this in an integrated SEP? Thanks for all input.

This is a follow up to the thread started last Fall on the Plan Terminations board regarding "un-terminating" a DC plan (thread started 10/2/00). BACKGROUND: the plan sponsor of a 401(k) plan has executed board resolutions "terminating" the 401(k) plan as of Date X, vested plan participants 100% as of Date X, amended the plan for legislative changes and received a determination letter, BUT has made NO distributions yet. The plan sponsor would like to "un-terminate" the plan before making distributions and begin allowing deferrals, etc. again

I was hoping that someone might have some additional insight, cites, or have had informal or formal comunications with the IRS on whether or not this presents a qualification problem for the plan (assuming the 100% vesting in benefits at "termination" is not going to be changed).

What is the risk in "un-terminating" a 401(k) plan for which there are board resolutions authorizing the termination, but where no distributions have been made at all and all participants will remain 100% vested?

This is a follow up to the thread started last Fall regarding "un-terminating" a DC plan (thread started 10/2/00). BACKGROUND: the plan sponsor of a 401(k) plan has executed board resolutions "terminating" the 401(k) plan as of Date X, vested plan participants 100% as of Date X, amended the plan for legislative changes and received a determination letter, BUT has made NO distributions yet. The plan sponsor would like to "un-terminate" the plan before making distributions and begin allowing deferrals, etc. again

I was hoping that someone might have some additional insight, cites, or have had informal or formal comunications with the IRS on whether or not this presents a qualification problem for the plan (assuming the 100% vesting in benefits at "termination" is not going to be changed).

What is the risk in "un-terminating" a DC plan for which there are board resolutions authorizing the termination, but where no distributions have been made at all and all participants will remain 100% vested?

Sps election to treat a decedent's IRA as inherited or as sps' own IRA is irrevocable and must be made by year following date of death (assuming sps rbd is not later).

So if sps elects to treat IRA as inherited there is no way to do a sps rollover from that account.

Is this true?

I am trying to get clarification on who is responsible for the tax liability of an offset of an outstanding loan balance upon the death of the participant who has named a beneficiary? Any guidance will be appreciated.

Defined Benefit Plan. Pensioners receive monthly installments. A portion of their installments is used to purchase medical insurance and/or dependent life insurance, if elected by the pensioner.

How are these insurance premiums reported on the 1099Rs?

We have a 401(k) and an ESOP. I understand that normally if you have two or more trusts you treat them as one for purposes of the 404 deduction limitations. However, what happens if you have a 401(k)and an ESOP. Are you limited to 15% or can you still utilize the 25% deduction limitation under 404? How does this work?

A DB plan participant is taking early retirement at age 55 and will be receiving monthly payments as calculated by the plan's actuary. What is the proper code to use in Box 7 of the 1099R? Should it be a 2, early distribution - exception applies, or 7 for normal distribution?

Anybody have a cite for the due date for a profit sharing plan sponsored by a non-profit organization?