I was entitled to half of my ex's 401K and IRA's, including a REIT. The REIT was moved into my account pursuant to a QDRO, along with another REIT. I learned in August that one of the REIT's disappeared from my account and is now in my ex's account. The financial advisor has been allegedly working to move it back into my name where it belongs, but it has taken months and has not gotten anywhere, along with no explanation on how this happened in the first place. I am ready to file a complaint with the appropriate agency to move this along. Any thoughts on how this happened or how I can resolve it?

Is it correct that if a participant takes a plan loan from their pre-tax 401k deferral account that they are essentially double taxed when they make the payments back on an after tax basis.  Taxed once when the deferral is made and then taxed again when they take a distribution from the plan?

I'm trying to figure out how it would be a good idea to take a plan loan if the taxation on the money is detrimental to the employee?

Discovered Solo K excluding nonowners had statutory employees during 2018.   We are now past October 15th 11(g) amendment deadline.   Does latest EPCRS Rev Proc regarding self correcting retroactive discretionary amendments help us without having to go through VCP?

Parent Company 1 owns 100% of Company A which has a standard 401k plan with no match or SH at platform X (200 employees). Parent Company 1 purchases 100% of Company B which has its own 401k plan with a match and safe-harbor at platform Z (with 20 employees). I understand there is a period of transitional relief. In what circumstances could each plan operate individually on their own platforms without any combined testing or BRF issues? Is there something about "separate lines of business"?

I have an issue that just arose, I was notified by my previous employer plan sponsor that I was overpaid when I left my 401k.  I was overpaid roughly $6000 due to an error by the plan administrator back in 2016.  I have since rolled those funds into my own personal IRA and now Vanguard is requesting I give those funds back.  I dont feel that I am obligated to return those funds as I was not the one who made the mistake and in most lines of work you are held accountable for mistakes and not allowed to pass them off to someone else.  Additionally I dont feel I should have to pull those funds from my IRA which would be an early distribution (additional tax consequence) and I would then need to amend my tax return from 2016 which is time and resources spent when that would not be necessary had this error not occurred.  I am curious if anyone has insight into what my rights and options are?  I can obviously not respond but dont want to have a law suit on my hands and dont want to have this issue come up in 20 years when they claim some crazy thing like I now owe them $50,000 because of inflation and interest.

I have a non spouse beneficiary.  did not start taking payments so he is on the 5 year clock to have the monies out.  No response and cannot verify a good address

since it has to be out of the plan in 5 years, can it be forced to an IRA?  or, can it be forced to the state unclaimed funds?

cannot find any real guidance on this situation

We administer a 401K that allows for employee after tax contriiubtions.

The client over-shot 415 by $18K.  Since voluntary, will remove from the plan, but be taxed on the earnings.

In the past, we have used the VFCP calculator to calculate interest from the date of payment to the plan through the date the funds are removed from the plan.

Is this still allowed; or if not, what is the generally accepted method?

What are the 415 limits for 2020?

I have a client that wants to allow participants to consolidate loans (take two loans and make them into one).  I don't see my plan document/loan policy software addressing this.  Does anyone have any guidance as to the language to put in to allow it?

What agency has oversight over Governmental DC plans?  Are Governmental DC plans ever audited?  If yes, by who?  

I am restating a traditional defined benefit plan from a prior provider’s document to our pre-approved volume submitter document.  The plan credits all service with related employers (i.e., members of a controlled or affiliated service group) for eligibility and vesting.  However, for purposes of benefit accrual, service with related employers is counted only from the date the related employer adopts the plan (or, if applicable, from the date an employee transfers employment from a non-adopting related employer to the plan sponsor).  The IRS did issue a favorable determination letter on the document prepared by the prior provider.  I suspect the application was filed using a Form 5300, but I do not know for certain.  (The document is in an individually designed format vs. on an Adoption Agreement.)

Under the terms of our pre-approved volume submitter base doc, all service with related employers is automatically credited for all purposes.  (I see this was a required provision under Section 14.03 of Rev. Proc. 2015-36.)

If we move forward with the restatement, I understand the provision limiting credited service for benefit accruals will negate reliance on the IRS advisory letter.  Since the plan already has an FDL, I don’t believe there is an option to file for a new letter using a Form 5300.  The question I have is this:  could we reasonably argue that this provision is a “minor modification” to the pre-approved volume submitter language such that we could apply for a determination letter using Form 5307? 

Trying to get people's opinion of if it makes sense to add 3(16) services as a TPA.  I would assume it is an add on service and not required (more of a convenience for the client.)  I am a small TPA about 180 clients right now and not sure if it makes sense or is a way to prepare for the possible open mep legislation.  Is there certification to become 3(16) authorized and how are people billing clients for this, are a couple of my questions.  

Any input would be greatly appreciated.

Good afternoon,

In a takeover case, the employer would like to do the following in his new document:

1. Annuities are the normal form of benefit in the current 401(k) plan document.  The employer maintains that he did not know this, that nobody has ever been offered an annuity nor have they inquired about one, and certainly nobody has ever taken one.  He was genuinely shocked to hear that this provision is in is current document.  He maintains that they never had a Money Purchase Pension Plan, a Target Benefit Plan or any other plan at all besides the current one, which started life as a profit sharing plan in 1969 and eventually had 401(k) provisions added to it. The incoming account balance report does not have a source where MPP money or related rollovers are being tracked.  It would appear that there never was any reason to have annuities as the normal form of benefit.   He wants us to take out any reference to annuities and put in lump sum only.  

2. Normal retirement age has been plain age 65, and he wants us to change it to the statutory definition of age 65 or the completion of 5 years of service, whichever comes later.  

Does anybody see either of these changes to the document as a violation of anti-cutback rules?

Thank you for your thoughts.

In November 2018, while still employed full-time, I received an early distribution from my Prudential retirement plan that my (former) employer now claims was not available under the terms of the plan.  Subsequently, Prudential Retirement informed me that I "received an overpayment in the amount of $8614.18 that was not eligible for a rollover."  Prudential is requesting that I pay back this amount in full. 

I conacted Prudential to explain that this 2018 early withdrawaI was NOT a rollover to an IRA nor to any other retirement plan.

At the time of my initial withdrawal request in 2018, I explained to Prudential that I needed the money to pay down miscellanous household, credit card, and medical care expenses. This early distribution was processed without delay, and was ultimately reported on an 1099-R for tax year 2018. 

I retired in July 2019, and am now receiving monthly payments from that same Prudential retirement plan. However,  I'm extremely dismayed over this recent issue, and Prudential has been vague about my options or rights. Bottom line: I am unable to pay back this overpayment amount. 

I believe I'm the victim of an egregious clawback. What must I do?  What can I do? 

Is there a timeframe within which to file an "amended" return?

I do not see any reference in the 2018 Instructions to Form 5500-SF/

We have a defined benefit plan that is a lawyer and his employee. They are not covered by the PBGC. Do we have to file the standard termination process in the PBGC instructions for terminating the plan including the 60-90 day notice prior to the termination date? If not, what is the timeline? Thanks!

With the Social Security Administration announcing its COLAs on the taxable wage base as well as the increased Social Security retirement benefit, the IRS now has all the information it needs to be able to announce the 2020 dollar amounts as indexed for the cost of living. Any indication of when this will happen?

Thank you in advance for any help in this matter. Client with DB floor offset plan left and went to new firm. The new firm is asking for written explanation of how the offset calculation (ie accrued benefits after offset was determined). Question: How much work and time are we required to spend in explaining how the plan was administered.  2. Can there be a charge for our time etc. in putting together this information? Thank you.

Do you have to do a QDRO if your ex-husband is deceased and the court ordered that you get half his retirement. Years ago I started the paperwork for the QDRO because  I was granted  half his retirement on the day we divorced. The only thing was my husband never finished them.  Now he is deceased and I am getting his social security.  The social security informed me of my entitlement to his companies pension.  I have the paperwork pleading for joinder and summons. Do I still have to do a QDRO????

Is it allowable for a participant in a 401k plan to max out his ROTH  deferrals in the plan, and also contribute to a ROTH IRA for the same year?