Hello all-

Since April 30, 2016 falls on a Saturday, does that mean we have until May 1, 2016 (the next business day) to submit PPA Plan restatements to the IRS via Form 5307?

Thanks

Plan year starts 3/1. PPA Restatement not yet signed.

Can effective date of restatement be 3/1/15 or should it be 3/1/16 now that prior plan year has passed? I recall seeing prior restated plan docs with effective dates of 1/1/02 or 1/1/08. Do earlier dates apply to current restatement?

I am interested in working on a contract basis with another TPA, for a block of small to mid size DC plans. I will provide full administrative services at a reasonable price.

I have a short plan year, initial year, being 5/1/2015 - 9/30/2015 and then the first full year being 10/1/2015 - 9/30/2016. Initial short year, being in 2015, would use a 2015 form 5500? But, the first full plan year would also be in 2015 and use a 2015 plan year form. Is this possible or should I use a 2014 plan year form for my first short plan year?

I have a plan that used to offer this form of payment, and the participant died after receiving 15 years of payments. Let's say he was receiving $100 per month, I was under the impression that the surviving spouse would receive the full $100 per month for the next 5 years, and then the amount would be reduced to $50 per month after 20 years of payments have been made. A colleague is telling me, however, that the reduction happens immediately upon death, and that the 20-year guarantee only guarantees that a minimum of 20 years of payments will be made pursuant to the terms of the JNS, not that the participant-portion of the annuity is guaranteed for 20 years.

Anyone have any experience with this form of benefit? I cannot find anything in the regs that provides clarification. I also do not have a copy of the old plan document that describes the form of payment (the form no longer is offered under the current plan).

Thanks,

LD

I've been working for the same employer for 19 years. After the first year, they were late with payments of my money, not their matching funds, at least 2 or 3 times a year for a varying number of months. I didn't do anything about it because I didn't want to lose my job. Now I'm moving out of state and I'd like to know what I can do. Most of what they owe has been paid except 2015, of which they've paid only 2 months. I've read that there is a formula for the earnings loss, but this may not be very much since the amount I was putting in was only around $100 per month. I currently live in Florida.

Are military deemed severance and qualified reservist distributions a protected benefit?

Thanks!!

If we have a PS plan set up 01/01/16 with a 401(k) feature effective 01/01/17, can we have a special participation date for the 401(k) for it's first year (which is actually the second year of the plan)?

I have a 401k plan where several of the participants have their balances in self-directed brokerage accounts using various brokers. One of the HCE's was told recently by his broker, that all 401k plan assets now have to be under the same financial advisor.

Was that part of the new Fiduciary ruling?

Does reinvested cash income ever get posted to Schedule H? If so, where?

Are long term and short term capital gains distributions treated as net investment gain and posted to 2b(10)(b) on Schedule H?

I've read some older dialouge (2007 and earlier) here about the requirements for a separate EIN/TIN for plans, and I've even recently posted on a dissimilar situation from what I'm asking now.

Since the schedule P has been eliminated, I've seen most custodial trust accounts for newer pension/cash balance plans setup with whatever firm (TD, Schwab, etc.) using the ER's EIN to setup the ERISA trust account. The "experts" at these firms also acknowledge that no separate EIN is required. However, when I go to the IRS website, it appears to REQUIRE a separate EIN for the trust.

It appears that there is a wide range of thought on this subject, and even two ERISA attorneys I've spoken with recently have questioned the necessity to establish a separate EIN other than a possibility of income reporting issues. Does anyone have any substantive clarification on this?

My client is law firm "G", which was formed when G and his buddies left law firm "D" in 1997. When they started a retirement plan a couple of years later (not with us), their plan said to count service with D for all purposes (eligibilty, vesting, allocations, etc.). We took the plan over two years ago, and in the PPA restatement said the same thing.

Now there is a new employee of G who was previously an employee of D. The thing is, she was hired by D in 2005 - years after the split.

Is there some kind of 'reasonableness' (ha!) standard on this? Obviously, the plan sponsor doesn't think this new employee should get the benefits of working for basically a competitor. Or do we have to amend it prospectively to only count service with D through 1997 and just know that one 'got through'? Can we even write an amendment like that?

If it helps, I'm using a PPA Datair volume submitter adoption agreement format document.

Thanks.

HCE owner, still employed getting his first RMD. Want to ensure correct classification of his RMD as in service or normal dist.

Thanks

Recently several of our clients received notification from the recordkeeper about Unrelated Business Income Tax on certain investments held within the brokerage account. If UBTI taxable income is $1,000 or more, the Plan will need file form 990-T and pay the tax.

Question - What all of a sudden is this an issue. Trying to figure out why the recordkeeper is just know sending out notices about the UBTI and the potential for tax. Has something changed that now Retirement Plans are no exempt from this Tax???

Thanks

Are there changes in status that would permit participants to switch from a PPO option to a HDHP option midyear? I can think of arguments why that might make sense but not sure that they necessarily fit the consistency requirement.

Is anyone familiar with a self-directed cash balance plan? Are they even possible? I saw some old posts where this was discussed but nobody was familiar with the specifics.

We have a group of physicians that would like to have a self-directed cash balance plan. Each physician would have their own brokerage account.

Thanks.

Defined benefit plan subject to ERISA. Is there guidance out there, or has anyone ever dealt with, the proper amount of investment diversification for a defined benefit plan?

For example, a $13MM fund. Is there anything out there that says how many different investment types the Plan should have? Or is it left to the discretion of the Trustees?

Thanks.

One of my colleagues recently passed away, unfortunately, so I'm picking up some of the work. I'm not as familiar with DB Plans, so I just wanted to check if the Plan Documents needed to be restated by April 30, 2016 like DC Plans?

This is for both single-employer Defined Benefit Plans and Cash Balance Plans.

Thanks in advance!

Client receives CP-403 in November, where is your 2013 5500? We respond, no filing required, 2014 was the first year of the plan.

Client receives CP-406, where is your 2013 5500, this is your final notice. We respond as above.

Will the IRS inform us of the status of our response? If not, is there some way to find out.

Thanks for your help.