I terminated my employment in May of 2000. Plan year ended June. I am still waiting for my distribution check which my former employer is continuously delaying and only giving lame excuses. (Latest being the brokerage house is moving). The employer has received all of my signed distribution documents which were required.

Also, I have contacted the DOL as I have been trying to clear up other issues with this pension plan and employer, and was told they don't handle Pension Plans - only the PWBA does. What's up with that?

Thanks for any advice.

Have a client who has a girlfriend and IRS problems. His only visible asset is a Defined Benefit Plan and his goals are to make sure the girlfriend has income for her life and afterwards to set up some sort of charitable deal in his deceased son's name. Can he buy life insurance in the plan and name a CRT as beneficiary with his girlfriend being the income beneficiary of the CRT. If the IRS doesn't go after the assets while he is alive will they probably just go get them after he dies?

Thanks

Matt Tuttle

Can a family owned or closely held corporation deduct LTC premiums for non-employees who are significant shareholders (spouse / children)? If the corporation pays for the LTC, is that taxable to the employee? Or would the tax treatment be similar to health insurance for family members?

I have a 100% owner of a company who wants to invest his 401(k) account balance back into the company. He has already maxed his personal loans from the plan. Currently there is no company stock in the 401(k) plan. My quesions are: What are his options for investing his account into the company? What options does he have without it being a prohibited transaction?

A QB became eligible for COBRA coverage Aug1. They elected and paid one months(Aug) premium on Sept17. On October 20 he paid another months premium(Sept) therefore catching up within the 45 day time frame. When do I start counting the 30 day grace period for the October premium? I am assuming he must pay the October premium by October 30 or his coverage will be cancelled October 1. Thank you for any help!!

Can a decedent's death tax exemption include his IRAs?

If this question has been answered on an earlier thread please lead me to it.

A Merrill Lynch "1999 Pension Plan Comparison Chart" describes a SIMPLE Plan as being similar to a 401k but not limited to 15% or 25% of compensation.

Is there no Sec 415© limitation with a SIMPLE Plan?

Could a sole proprietor with no employees contribute 100% of SE income (up to $6,000) plus a 3% match? I've looked everywhere I can think of and can't find an answer.

I was just wondering if you would receive non-taxable money (not earned income) from a court settlement if it would be possible to say take a full paycheck (2000.00) and use it as a contribution to your Roth and then use your non-taxable settlement money to supplement your paycheck. Would this work?

IF Section 401(a)(11) does not apply to government plans- hence no j%S requirement- what do you do to determine the interest rate for lump sum payouts from a DB plan- what interest rate should be used- Gatt? or something else? How do you calculate present value in a Government DB Plan?

When calculating the most valuable benefit (MVAR) for a plan with no subsidies but with a lump sum ( using GATT rate first day of plan year) available at termination of employment, wouldn't the lump sum be the most valuable benefit, with the low current GATT rates resulting in an inflated MVAR?

Or, does the lump sum get ignored? There seem to be different interpretations of whether a lump sum which is "subsidized" only by low discount rates is considered or ignored.

If the lump sum is considered, is it proper to assume no change in the GATT rate?

Opinions or interpretations?

I work for a large educational institution responsible for paying insurance carrier bills. Starting next year we will be offering two insurance plans to employees that will be self-funded. The insurance carrier will pay the claims and we will reimburse the carrier for the claims paid on a monthly basis. How can I ensure that I am paying the proper amount each month? Do other companies hire an outside firm to audit the claims? If so, how many times a year is this usually done?

A participant terminated in January 2000. We provided her with benefit elections forms after the January 30, 2000 valuation was completed.

She was paid by the Trustees in May 2000. Lo and behold, when we come to the September valuation we learn that she had been rehired in April. No one told us or told the trustee not to pay.

This is a 401(k) plan. She is 49 years old. She took the money in cash (less her $900 loan) and of course it's been spent.

What should happen now?

In setting up a NQDC plan (employee will have a hypothetical account balance, which is credited with earnings at a specified rate each year; account balance paid in installments following retirement, with lump sum death benefit if death prior to retirement), our consultant is concerned that the payment of the death benefit in lump sum will not be deductible in full in the year paid. Any thoughts? Thanks.

A Canadian citizen wants to sponsor a qualified plan for the U.S. corporation that he owns. He has a U.S. social security number and pays U.S. taxes. Although he owns a house in the U.S., his main residence is in Canada. He and his wife (also a Canadian citizen) will be the only participants in the plan and they would like to also be the trustees. Can they be trustees even though they are not U.S. citizens? Where in the regs is this addressed?

In 1998 I converted my Traditional IRA to a Roth IRA. I did this so I could spread out the taxes over the next 4 years.

Now I want to withdraw approximatley the amount that I have not paid the taxes on yet for a first time home purchase. Though, I have not yet fulfilled the 5 year holding period for the ROTH.

Can I make this qualified withdraw? Or do I have to recharactorize to not be penalized. Or am I out of luck?

I am working with a governmental employer that wants to establish a 457 plan. I am aware of a group in D. C. called ICMA that does a very professional job on these plans. Can anyone give me any other entities that can establish the framework/investments for such a program? Thanks for your help.

Multiple conversions from traditional IRAs in the same year are allowed. My question: Since only one recharacterization is allowed per year, can it be just one of the conversions?

Example: Three funds owned within same fund family.

Partial of fund A converted in January

Partial of fund B converted in May

Partial of fund C converted in August

If fund B tanks during year, can only fund B be

recharacterized in December?

Answer any different if funds were in different families?

Thank you

A client of ours has a top-heavy 401(k) Plan in which the key employees deferred >3% for 1998 and 1999. We took over the case recently and discovered that the top-heavy contributions to non-key employees were never made. We notified the client of this required contribution (about $18,000.00 for the 2 years) and they refuse to make this deposit.

In my opinion, this would result in the Plan losing its tax qualified status and the usual ramifications for the employees in the Plan.

Is there anything else?

I don't think there can be an excise tax for missed minimum contributions to a Profit Sharing Plan. Am I correct?

Thanks for any help.

When testing a DB under 401(a)(4) on a benefits basis and the measurement period includes future years, how is average compensation defined? It is clear that future salary increases cannot be assumed, but 1.401(a)(4)-e(e)(2) says that average comp must end in the "current plan year", whereas 1.401(a)(4)-3(d)(2) seems to imply that assuming continuation of pay at the current level is an acceptable assumption.

For someone years away from retirement, must average pay be calculated based upon the comp history to date, or may it reflect assumed continuation at the current rate, i.e. average pay=current pay?

Any clarification of how others interpret this would be appreciated.

Anyone know where I could find a ballpark of the percent of 401(k) that do an annual match versus those that put in the match for each payroll period (counting only plans that do offer a match)?