Can a spouse who inherits an IRA by will (because the deceased failed to designate a beneficiary and therefore the estate is beneficiary) establish a beneficiary IRA? roll the assets to an IRA in his/her name? If not, what are the spouse's options reagrding the inherited IRA assets? Cites would be helpful. Thanks.

Are distributions from non-Title I plans subject to the spousal consent rules? Is spousal consent required for loans? hardships? Cites would be helpful. Thanks.

If a non-ERISA Title I plan permits loans and hardship safe-harbor withdrawals, is the custodial obligated to advise participants that they must first take a loan from the plan?

In regards to RMD, participant has a balance in a ps plan and also an ira account. For the last 2 yrs calculation has been done to determine rmd total taking into account both plans, however distrb has come only from IRA for this total.

Is this ok? I don't think so, 1.401(a)(9)

I am currently taking graduate courses towards an M.S. in Accounting and I need to do a paper on Accounting Theory. I was wondering if anyone knows of any sites that deal with Defined Contribution plans (I chose DC plans because mostly everyone in class are in their mid-late 20s and participate in 401(k)s). I would want a site that deals with what GAAP or FASB has to say about Accounting for DC plans. Thanks in advance.

If you use Quantech and Hyperprep you may enjoy this!

We have a terrible time printing SARs in a portrait format. We have discovered that if you go into Quantech and change your print to portrait and then go into Hyperprep the portrait information holds and you can easily print your reports.

What are the requirements of taking a distribution from an IRA without the 10% penalty. The example in question is a person that cannot work due to an auto accident and is 41 years old. What qualifies as disabled?

A participant has an existing loan in a University 403B plan and voluntarily terminates employment. Contract between University and TPA states that loan payments may be made upon separation. TPA automatically defaults loan even though participant requests that loan payments be continued. TPA sends back remaining loan payment received through payroll deduction to participant which is received after TPA defaults loan.

Question is:

1) Is TPA required to allow participant to continue loan payments. If so, by law, by contract or both. If by law, any references to section.

2)Recommended recourse (DOL, etc.) if any.

Thanks for your time

TCAT

How do you calculate the 20% top-paid group of employees? Is it as follows:

(1) First list all officers and owners and then all employees in order by compensation.

(2) Calculate 20% of total employer compensation.

(3) All officers and 5% owners are automatically included in the top-paid group.

(4) If officers and 5% owners do not make up 20% of total employer compensation, then you include the highest paid employees until you reach 20% of total employer compensation.

A defined benefit plan that I work on is considering an investment in parking spaces (this is in Chicago, where parking is at a premium, don't ya know...). They will charge rent and the rental income will go to the plan. There is no relationship between the plan and the parking spaces, so from this aspect it doesn't fall into Prohibited Transaction territory.

Would you allow the plan to have this investment? I am wavering....

Thanks.

Hi Everyone,

Can anyone advise on the availability and eligibilty of IRA's for Citizens of the Commonwealth of Puerto Rico?

Does it depend on whether earned income is from Puerto Rican sources or from mainland USA company sources?

Any insight into this matter will be appreciated.

The tax code for the Commonwealth of Puerto Rico and the mainland USA are different I am told.

Regards,

Dave H.

Let's say I have a plan with PS, 401(k) and 401(m); 100% benefit on the 401(k) and 401(m), but less than 100% benefit on the PS side. I'm not clear as to how to complete page 2.

What if I have a PS only, and less than 100% benefit?

I'm looking for a reference that would allow making an administrative change for an employees dependent care election. Situation is two married employees that made seperate elections for dependent care deductions for amounts that when totaled are in excess of the $5,000 limitation.

What are my options as administrator. What are my obligations?

This issue arose in connection with a merger of 2 entities, one has a SIMPLE IRA Plan and the other has a 401k plan. As noted in IRS Notice 98-4:

"an employer can make contributions under a SIMPLE IRA Plan for a calendar year even though it maintains another qualified plan if ...The other qualified plan is maintained by the employer during the calendar year in which an acquisition, disposition or similar transaction occurs (or the following calendar year); the requirements of this Q&A B-3 would have been satisfied if the transaction had not occurred (and thus the employer maintaining the SIMPLE IRA Plan had remained a separate employer); and only ndividuals who would have been employees of that “separate” employer are eligible to participate in the SIMPLE IRA Plan."

My question is, can the employees of the SIMPLE IRA Plan sponsoring entity participate in the 401k plan?

Thanks

This issue arose in connection with a merger of 2 entities, one has a SIMPLE IRA Plan and the other has a 401k plan. As noted in IRS Notice 98-4:

"an employer can make contributions under a SIMPLE IRA Plan for a calendar year even though it maintains another qualified plan if ...The other qualified plan is maintained by the employer during the calendar year in which an acquisition, disposition or similar transaction occurs (or the following calendar year); the requirements of this Q&A B-3 would have been satisfied if the transaction had not occurred (and thus the employer maintaining the SIMPLE IRA Plan had remained a separate employer); and only ndividuals who would have been employees of that “separate” employer are eligible to participate in the SIMPLE IRA Plan."

My question is, can the employees of the SIMPLE IRA Plan sponsoring entity participate in the 401k plan?

Thanks

I have a situation where a 401(k) Plan has an immediate entry for deferral purposes, but a 1 year wait (12 months, 1000 hours) for the Match. Circumstances with this plan have caused it to become top heavy. What we are trying to determine is that we have several people who work anywhere from 1 to 10 days per month (150 - 750 hours per year), but permanent employees. They do defer from time to time, but have never become eligible for any employer contributions nor have they ever accrued a year of service. Are they due top heavy minimum contributions?

Hi,

I was planning on starting a ROTH IRA for capital gains on a mutual fund for 1999. Is it too late to start a Roth IRA for 1999. I have already claimed the capital gains on my income tax and wanted to get the IRA set up for last year's cap. gains. Thanks for your help in advance. Great board!

Barbra

Does anyone out there know of a good reference, preferably online, for determinations of experimental/investigational treatment? This is a constant issue in our office, and we really need a reliable, up-to-date source for this type of information. Any ideas?

Any guidance, references on what health plans are suitable for very small employers?

I'm thinking about converting a traditional IRA and Rollover IRA into one Roth IRA(combine the funds). For tax purposes, I'm thinking that the taxable income would include all of market value of the rollover IRA and the portion of gain on the traditional IRA(would not include my $2000 dollar contributions since this was after tax dollars that I already paid taxes on). Does anyone have any info. or know where I can get an answer. I tried the IRS but all that was offered was the automated telephone messages..