Can a custodian (i.e. bank, security firm) be named an owner of a Roth IRA?We have received requests for this. If a custodian can be an owner, how do the wage limits for Roths apply?

I am interested in understanding the definition of part time employees and the full time benefits that must be extended to them under law.

We are adding 2 or 3 new subsidiaries with the same benefit plans as parent but different eligibility requirements. How do I set this up? Do I need to have seperate plan docs for each company, or can I just amend for the new subsidiaries?

I would appreciate any guidance or confirmation on this issue. Does the compensation limit under Sec. 401(a)(17) ($160K this year) only apply in calculating the Sec. 415 limit but not the maximum exclusion allowance under Sec. 403(B)(2) with respect to determining the max. salary deferral amount per employee? Thanks.

My employer is considering buying new software for HRIS, given our recent rapid growth. We are now a company of 200 Ees and still growing. Can anyone provide feedback on ABRA, ADP and other software that is working well/not effective/easy to use/good or bad customer support/comprehensive for payroll and benefits/easy for data entry/etc.?

Is a hospital indemnity plan (maintained by an employer subject to COBRA) that pays a fixed dollar amount per day of hospital confinement subject to COBRA?

Tax Exempt employer established a 403(B) plan. It has now implemented a 401(k) plan for all employees, and wants to limit the 403(B) plan to only those employees who were employed on 1/1/99. Can the employer do this? The statutory language of 403(B) suggests that all employees (with limited exceptions) be offered the right to participate. Is anyone aware of any authority (statements by Labor-PLRs, etc.) which would permit an employer to limit the 403(B) plan in such a manner? By way of information, the 403(B) plan had a match, and is subject to ERISA, but as of 1/1/99, the match is now being made to the 401(k) plan.

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jpb

Where can I get a summary of state and/or federal employment regs? I'm specifically trying to find out the reg for how long an hourly employee can work over 30 hours a week before you are required to classify him as full-time.

If an employer with an overfunded DB plan converts it to a cash balance plan, hwat happens to the overfunded amount?

I do not believe tha plan is terminated so there should not be a reversion.

At the time a participant terminates employment, the plan's vesting schedule is X. The participant leaves his or her account in the plan. Later, after this termination of employment, the plan amends the vesting schedule to a more generous Y. Which vesting schedule (X or Y) applies to this participant? Thanks in advance.

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.