What is the consensus in the benefits community as to a sponsor's ability to satisfy DOL regs regarding the provision of an SPD to plan participants by posting it on a designated web site? What is the consensus of the community with respect to the ability of a plan sponsor to satisfy 404© requirements by delivering 404© information solely on a website, with no manual/paper delivery of 404© information to participants?

We serve as a corporate trustee for retirement plans. This includes the issuance of distributions to paricipants and corresponding federal tax withholding. Some recordkeepers have informed us certain states have mandatory state tax withholding on retirement plan distributions and we (the trust company) must submit these taxes on the participant's behalf. Is this true? If so, which states require state tax withholding?

If an employee's work schedule changes from day shift to night shift, and childcare expenses are no longer necessary would this constitute a CIFS and allow the employee to drop the childcare deduction?

What action may be taken by an employer that has a SARSEP but now his employees exceed 25. Can he keep the plan?

A member of a professional corporation signed a one-time, irrevocable waiver of participation in the corporation's money purchase pension plan. He had previously participated in the plan for several years. The member then terminated employment and was rehired a year later. He signed an additional opt-out form upon completion of the eligibility waiting period. However, he "revoked" his irrevocable waiver and entered the plan shortly afterward. The plan is now under IRS audit, and the agent has said that minimum funding deficiencies may apply. Is there a way to proceed so as to minimize potential penalties?

an investment company that manages 2 funds, not publicly traded, has just started a 401k plan and is offering its 2 funds as investment choices to its employees. they are waiving any management fees associated with the investment of these assets.

would this be considered a prohibited transaction?

What procedure to follow or what laws help the disabled person to get benefits from insurance company that keeps denying benefits

I am looking to obtain sample copies of employee surveys which other companies have utilized in questioning employees as to their level of satsifaction with their company's current benefit and compensation package(s). If you have sample surveys which you would be willing to share please send to me via e-mail at 80karlor@menasha.com or via fax at 920/751-1418.

Thanks in advance for your help!

[This message has been edited by Lori (edited 12-21-98).]

Can I roll my 403© after tax dollars into an IRA and then roll that IRA into a Roth IRA?

Thanks

Help! I am CPA whose client are calling about converting to Roth IRAs. My initial reaction to most was "No", unless they were in a low bracket or young. Having read a bunch of articles on ROTHIRA.COM, I am now no longer sure that is true. I have tried many of the calculators at the website, but I still am unsure. My question is: if I find in 1999 that a client would have been better served by converting, isn't it true that in the worst case, the client can still convert in 1999 or later (perhaps over a 4-year period) and the only thing they lose is the tax on the IRA growth in the meantime (i.e. the period over which they do convert instead of in 1998)? It seems to be less than a fatal mistake if the conversion is delayed. Could someone please address these issues? Thank you.

I need to know the last date that I have to reverse a conversion from an IRA to a Roth IRA. My accountant has advised me that my AGI may be more than $100K for 1998. I have converted one IRA to a Roth IRA. So if, in fact, my AGI is in excess of $100K for this year I will need to reverse my conversion to the Roth IRA. My accountant thought that I probably had until 4/15/99 to make the reversal, but he wasn't sure.

Is there any reason the owner of sole owner of a corp can't have a SEP and a profit sharing plan? Usually I have seen a SEP and a money purchase plan, but since the SEP is not a "qualified plan", is there anything prohibiting the establishment of a profit sharing plan??

If I have an employee who makes $6,000 or less and elects to contribute 100% to his/her SIMPLE-IRA, as allowed by the plan, how in the world am I to make the Social Security/Medicare deductions for his/her share of those taxes? This does not seem possible, yet everything I read says those contributions are subject to Social Security/Medicare withholding.

ERISA Plans are covered under provisions allowing plan participants the right to request plan documents for their own review. Is anyone aware of such provisions under gov. plans?

Where can I find statistics on number of companies that offer DB plans, or only DC plans? Also, what are typical income replacement ratios that are being provided?

Can I set up a Roth IRA without going through a financial planner/broker and if so, how?

The determination of whether a plan is top-heavy is made as of the last day of the plan year. The contribution to nonkey employees is the lesser of 3% or the percentage contribution for key employees.

The plan had failed the ADP test and monies were returned to the key employees by March 15th. For purposes of determining the top heavy contribution for nonkey employees, do we use the actual numbers that were in the plan on the last day, or the amount that should have been (i.e., after the distribution of excess contributions in March)? Obviously, if we use the latter, the percentage will be lower but the lower percentage reflects the true benefit to the key employee for the plan year.

A client wishes to terminate a SARSEP and implement a MPP. What actions must be taken, notices given, etc. for the termination of a SARSEP?

Have a 1 participant plan. Employer is in the real estate business. Money Purchase Plan would like to purchase undeveloped land. Develop the land and sell the lots off. Proceeds from the sale and any other income would come back to the plan. Can anyone point me to where this may be a problem? What about UBI?

I've read conflictinig info. Can I take out my contribution, not earnings,without tax or penalty? IF so does it need to be after 5 years?