katieinny

Is there a minimum age limit when selecting a retirement age in a plan document? For example, what if an employer wanted NRA to be 45? The lowest I've seen is 55, but occasionally an ER will ask if he can use a lower age.

Am I correct in assuming that a plan can still elect NOT to receive rollovers from another plan, either by a participant or directly from another plan? Or are the EGTRRA rules saying that a plan MUST receive rollovers?

I understand that terminating plans must be updated for the GUST amendments prior to termination. But is there any reason to include the EGTRRA amendments for plans that will be terminating before the end of this year?

The ER is making a 3% Safe Harbor contribution to the eligible employees. In addition, he will make an integrated contribution above and beyond the safe harbor contribution, perhaps in the 5% range. Must a portion of the additional contribution be allocated across the board, or can it be allocated only to those in excess of the wage base?

I've been under the impression that an employer can set up a SIMPLE IRA plan in the year immediately following the year a 401(k) plan is terminated. I can see where a SIMPLE 401(k) could be considered a violation of the 1 year rule, but I don't believe the SIMPLE IRA plan comes under the same restriction. Any opinions on this?

With market conditions the way they are, many people who are taking substantially equal payments are depleting their assets much faster than was orginally intended. Does anyone know if a new calculation would be permitted under these circumstances?