Audrey

For a calendar-year DB plan, if the employer makes the 2024 plan year contribution after 9/15/2025 (the 8½-month funding deadline) but before 10/15/2025 (the extended tax return due date), does it still count as a 2024 plan-year contribution under IRC §404(a)(6)? My understanding is that it should still be deductible for 2024 and but can't be reported on the 2024 Schedule SB/counted as 2024 funding. Am I interpreting §404(a)(6) correctly?

Thank you so much!

Thank you so much!

hi there, are there any regulations out there which mention all the required deliveries for DB/CB plans? do you normally send out the valuation reports directly to client and do you send out the AFTAP with the valuation reports or government forms, or all 3 things together?

thank you! this plan also counts YOS and avg comp while participation, instead of since DOH.

hi David, the plan has been TH since eff date, e.g. 1/1/2020 the participant was hired in 2021 and became eligible on 1/1/2023. I'm wondering if I should use his YOS (>1000) since hired or entry year. probably I should rely on the plan document but just want to check to see if there is a default language on this. thanks

for TH minimum benefit in DBPP: year of service and avg compensation should be calculated starting from the year of participation right? or both should be counted from year of hire? try to find it on § 1.416-1 but it doesn't show the definition. thanks!

Deferrals/SH: age 21, 2 months, quarterly entry PSC: age 21, 1 YOS, Immediate entry both SH and PSC exclude pre-entry compensation if an employee who became eligible for def/SH on 7/1/2024 with a pre-entry compensation. since he is entitled to SH, then he needs to get GW min. we use 5% GW test method which allows us exclude pre-entry compensation. can I use the SH post entry compensation for GW min calculation in this case? or we have to use full year compensation for GW since the post entry comp is for SH but not PSC? thanks in advance

this is a take over one man plan with BOY val date, I'm wondering if we can change that to EOY val date assuming auto approved

thanks!

good morning, yes, I mean the actuarial/market asset value for an EOY valuation (small plan, so it is the market value without any adjustments), thanks, I think I will include it too, but can't find any guidance

Should Accrued Interest be included in actuarial asset?

much appreciated Effen!

Thank you Bri!!! Will read through today

if a participant had took a couple distributions and would like to increase the benefit formula to reach 415 limit in 2024 1) should we project the distribution amounts from the distribution dates to 12/31/2024 or simply use the actual distribution amounts? 2) do you normally calculate the 415 lump sum (excluding the exiting distributions) first then back in the accrued benefit/ cash balance credit to reach max 415 lump sum? or do you convert the exiting distributions into accrued benefit then subtract it from the 415 limit? do you handle this differently between DB and CB plans? 3) are there any guidance or regs that can answer these questions? thanks in advance!