Does anyone have a source for statistics on DB plan by industry?

Our local Pension group is needing a really good Y2K speaker for our February meeting. We are seeking someone with knowledge of the legal aspects as well as the practical aspects of how Y2K will impact pension plans. Expenses will be paid for the speaker. If you know of anyone, please me.

Just took a look at it. There is a fix on the bulletin board.

I just pulled off the latest fix from the bulletin board, and it appears to have fixed the problem with:

NHCE concentration %.

this was incorrect.

terminees who had less than 500 hours were properly excluded from 401(a)(4), included in the avg ben % test if plan was 401(k), but were not excluded from the NHCE concentration %.

They are now excluded from the NHCE concentration %. At least in my test plan! So go for it.

An controlled group of companies is part of a 401k plan. Each member of the controlled group would like to put in a discretionary match. The match per controlled group may be different. For example one may match 50% up to 4% deferred and the other may match 25% up to 5% deferred.

If 401(m) passes on a whole, then would 401(a)(4) testing (rate groups etc) be needed?

Are there any reg cites that give examples?

When calculating a Top Heavy minimum contribution, for what period do you determine compensation? For example, if the plan document requires that you recognize compensation from a Participant's date of entry for PS allocation purposes, would you similarly limit a participant's compensation for the determination of the Top Heavy minimum contribution or would you use full year compensation?

The Q&A's in the Regs under 1.416 direct you to 1.415-2(d)for the definition of copmpensation for this purpose. 1.415-2(d) merely states that you use compensation "for that plan year" and does not specify if that includes pre-participation compensation. I can find no reference to the appropriate period to use.

Any help/input would be greatly appreciated.

I need to educate myself on issues specific to preparation of Form Series 5500, non-discrimination testing (ADP/ACP/MUT) and "top-heavy" determination as it relates to Professional Employer Organizations (PEO's).

It is my understanding that a Plan maintained by a PEO is to be treated as a multiple employer plan, therefore coverage requirements,non-discrimination testing and top-heavy determination is applied on an employer by employer basis.

A multiple employer plan with 100 or more participants at beginning of plan year must file Form 5500 and related schedules and an "abbreviated" Form 5500 C/R for each participating employer.

I have been given conflicting opinions as to wether an "abbreviated" Form 500 C/R must be attached to filing.Can anyone advise?

Thanks!!!

TEFRA amended 401(a)(9, however certain elections made prior to 1984 were grandfathered. Is there any reason, (please try to remember or think about this... I know it was over 15 years ago) why someone would NOT make the election available under TEFRA at that time? See, eg, January 1984 Journal of Taxation page 50.

Where I can find the definition of partial plan termination and the vesting requirement if the plan is partially terminated(it is not in the SPD)? Can it be defined differently in different plan?

I am interested in performing a market share anaylsis on the 457/401(a) market. Specifically, I am looking for assets, participation levels, providers, etc. Can anyone direct me to a publicly available source for this information?

I have received contradictory information as to whether or not deferrals distributed under hardship rules are subject to the 10% early withdrawal penalty in light of the new rules applicable to such distributions after 12/31/98 (or 12/31/99 if transitional relief in Notice 99-5 is used). I believe that the deferrals continue to be subject to the 10% early withdrawal penalty. Please provide feedback. Thank you.

I am searching for any information pertaining to the mass-transit fare benefit, particularly for the state of New York.

We have a situation where an IRA owner has a large amount of closely held bank stock in his IRA and the bank wants to make a Sub S election. This requires the transfer of the stock from the IRA. If the transfer is to the IRA owner (which is what is desired) this constitutes a pt. I have found a couple of individual pt exemptions that have recently been issued under this scenario but the exemptions footnote a troubling issue--that is that if the owner iswas a director or officer of the bank the acquisition or holding of the stock could be a pt depending on the circumstances. The footnote says to the extent these prior transactions constituted pts, no relief is granted. Query whether all of this might be avoided by the IRA owner taking a distribution of the stock from the IRA, exchanging the stock for equivalent amount of cash and putting the cash back into the IRA within 60 days of the initial distribution of stock. Comments appreciated.

Is it possible to buyout an S&L, and keep the debt at the parent holding company level so as to avoid having to obide by the financial restrictions set by regulators?

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Chris L Smith

Brown, Gibbons, Lang & Co., LP

Investment Bankers

I'm looking for guidance on the maximum contribution rules applied to ESPPs. As I understand it, there's a $25,000 annual cap placed on the "value" of stock that can be purchased under this type of plan. Further, if the plan has multiple pricing periods, the cap is proportionately applied. The value is normally related to the Fair Market Value of the stock at the beginning of the period. My question is: if the FMV of the stock is lower at the end of the period than it is at the beginning, is there any hope of using the end-of-period FMV to determine "value" for the $25,000 rule?

I am trying to take an early retirement from a company that I quit from after vesting into their retirement plan. They said that would be fine to take early retirement and sent me a form as to how I would like my payment. I requested a lump-sum payment and now they are saying that anyone who quit the company before January 1, 1998, is not eligible to receive a lump-sum payment. Is there any way for me to reverse this decision? Can a lawyer help me or am I forced to go with their decision? Thank you for your help with this matter.

When calculating the maximum loan for a participant, can we include the balance in the after tax source?

Gang:

I appreciate this list quite a bit, but it really is primarily a retirement-related site. Do any of you know of a discussion list focused on non-retirement benefits, such as health, life, dental, ltd, etc.?

If a person is laid off before company contribution of his money purchase pension plan is fully vested, will he forfait that amount?

What are the restrictions on withdrawing funds for education uses? I plan on investing $2k initially in a Roth and contributing about $1500 or more annually. My son is 9 years old. Thanks.

2 questions:

1. When you terminate a db plan and want the money to go to dc plan sponsored by the same employer, can you do it in an elective transfer under Reg. ss 1.411(d)(4) without offering a lump sum option? That reg. says that to have an elective transfer you have to give the pt. the right to take an immediate distribution (in addition to a deferred annuity or the elective transfer), but I've interpreted that (based on some old informal IRS input) to mean that you had to give the pt. the right to choose immediate commencement of annuity payments, and that it did not mean that you had to give the pt. an immediate lump sum option. I've gotten IRS determination letters on this. Is there anything (or anyone) out there that comes to a different conclusion?

2. In the same vein, we've not given pts. whose benefit does not exceed the mandatory cashout limit the right to make an election -the money was simply transferred to the new plan. The PBGC has questioned this. Any thoughts?