ajc0202

Ok, thanks. Yeah, this is messy. They do have a 401k plan, but they have not been tested together as the DB is a Safe Harbor fully insured plan (with life insurance - yay). The DC didn't end up getting this same entry provision. It was added to allow the owner's husband in the plan when there were no other employees.

Ok, thank you. Never 1000 hours in any year. I was thinking Top Heavy may be a problem..

Hello, We've got a plan with 0 hours required for eligibility and 1,000 hour required for benefit. 1 owner that works 1,000 hours and 2 employees that don't work 1,000 hours. Are we going to have testing issues? Are one of these employees going to need to benefit? Thanks!

Hello, We have a participant in a fully insured plan that is past NRA and would like to take a partial distribution. They have 4 annuity contracts in the plan and want to distribute 2 of them to an outside account and continue to pay premiums on the other 2. I realize we have to amend the formula to make this work, and there are only owners in the plan, so that part should be ok. I'm wondering if this partial distribution would be allowed? I had been told in the past that in-service distributions aren't allowed from fully insured plans. But, this participant is past NRA, so this could be considered a partial distribution of the retirement benefit. Thoughts? Thanks, Austin