While my disability was based on both psychological and physical conditions, my Long Term Disability Insurance company refuses to even consider the physical aspects and I have no clout with them. They cut off my benefits after the "usual" 24 months.

Has anyone else any experience with this?

What (if anything) has anyone heard concerning the opening up of the determination letter process for GUST restatements for ongoing plans in the 1999 year?

Has anyone received their reenrollment forms for the cycle ending 12/98 yet?

It seems that if I covert my $90,000 traditional IRA to a Roth, my increased AGI (even if I do the 4-year spread) will then exceed the allowable limit ($110,000) for claiming the new Child Credit. Since I have three kids, all under age 7, I believe I will be blowing $1200 ($400 X 3) per year for the next four years. If I don't "spread" I will only lose one year of Child Credits but I will owe a lot of tax money at a much higher bracket. Am I wrong or does this turn the Roth IRA conversion possibility into a bad idea for me?

Client pays quarterly estimated taxes. 4th quarter of '98 is paid in Jan. '99. Must 25% of the Roth conversion be included in the estimated 4th quarter income?

Corrected link: The Internal Revenue Service has issued a http://www.benefitslink.com/IRS/roth-lrm.shtml - click here), which is a set of sample provisions used by the IRS National Office in processing requests from financial institutions (and others) for approval of their custom-drafted prototype Roth IRA trust or custodial agreements.

[This message has been edited by Dave Baker (edited 12-08-98).]

Is anyone familiar with the CRS (Certified Retirement Specialist?) designation? All I can find is a CRS in the real estate business (Certified Residential Specialist). Any info would be appreciated e.g..how to obtain, sponsoring organization, etc.

Thanks!

Is anyone familiar with the CRS (Certified Retirement Specialist?) designation? All I can find is a real estate designation for Certified Residential Specialist. If it is a real designation for retirement planning, I would appreciate any information as to how to obtain the designation, sponsoring organization, etc. Thank!

A person converts a traditional IRA to a Roth IRA before 12/31/98. He then discovers that his MAGI for 1998 exceeds $100,000 because of unanticipated dividend income or capital gains. Can he convert back to a traditional IRA in 1999 before the due date of his 1998 tax return without a penalty?

If I convert an IRA to a Roth will I have to pay a penalty since my tax due will be so great?

Hello!

I was wondering if anyone has found or knows of an online subscriber program where folks could sign up to view reference materials on retirement plans (401k, 403b, pension, etc) using their Web browser... this would really be an ideal way for my department to find information. A professional Web developer, combined with a knowledgable Plan-level staff, would be an incredible thing! Up-to-date information, e-mail newsletters, all that good stuff. Specifically what I need is reference materials, the ins-and-outs of Retirement Plans in every shape, color, and size. Any ideas?

Unless contributions are actually in excess of the 402(g) limit, you can't take them out of the ADP testing.

[This message has been edited by Beavis (edited 12-07-98).]

Anyone out there using Datair's Plan document system to general prototypes and volume submitter plans? Need some feedback. Thanks.

I am about to convert my traditional IRA to a Roth IRA. I'd like to know if I could contribute $2,000 to the traditional IRA, convert the total IRA to a Roth and then take the $2,000 as a deduction in April. Furthermore, how much and when would I be able to start contributing to the Roth IRA.

Thanks in advance..

Whose responsibility is it to withhold? The employer, the trustee or the Plan?

I have a 401(K) plan with individual annuities. A participant requests a distribution on account of termination of employment, the company writes the Employer a check for 100% of the participant's account less any surrender charges. The Employer, believing the insurance company to withhold the 20% (and it doesn't) overpays the participant by 20%.

We notify the participant who thought they received too much and told us they were willing to come up with the 20% by the time they file their taxes.

Number 1, how do we know the participant will? we don't, do we care?

Number 2, isn't the 20% due within 15 days after the month of distribution?

Number 3, how do we code the 1099R if the participant will come up with the 20% on their own?

Number 4, what is the liability to the Employer?

Thanks.

John converts $100,000 regular IRA to Roth prior to 12/31/98. If 4 year spread is selected would put $25,000 in each year for 1998,1999,2000 & 2001.

Question: Can John use a spread less than 4 years? Ex: 1998: $25,000, 1999: $25,000, 2000: $50,000.

Question: What happens if John dies prior to year 2000? Does the estate have to pay taxes on remaining $50,000?

My company is starting a POP Section 125 in January. I was told that, in a POP, employees can make changes to their health coverages anytime during the year without a qualifying event provided the health plan provider does not have restrictions. The only time a qualifying event is needed is in a reimbursing account. This doesn't sound right to me. Is this correct?

I have a Roth IRA with 3 primary beneficiaries. Upon my death,

can each beneficiary elect to take distributions based on their own life

expectency or must each withdraw on the life expectency of the oldest

beneficiary? If the answer is the latter can I split the Roth IRA into

separate IRAs and have just one primary beneficiary on each IRA, so they may withdraw based on their own life expectency?

Can anyone provide me with some specific examples of how the Y2K problem might adversely affect a DB plan, assuming an employer's benefit systems are not Year 2000 compliant after 12/31/99?

Are tax exempt income and/or capital gains included in modified adjusted gross income (MAGI).

For example: An individual has salaries and capital gains equaling $90M. If tax exempt income is $50M, do they still qualify to CONVERT an existing IRA to the Roth?