austin3515

Non-Profit organization is not part of a controlled group with a For Profit company (I don't think its even possible?). But there is some very strong connection between the two, probably donation driven, maybe the for-profit handles the accounting work, I don;t really know. Any reason they both cant participate in the SAME 401(k) plan?

And answering the premise of my initial question - this is obviously an IRS rule and solo 401ks clearly affected by it. This will be fun. But all of this in my opinion pales in comparison to those ill thought out vesting rules. How one could hope to comply with those rule (independent of a TPA/RK with several years of solid data on ALL employees) is completely beyond me. But that would have to be a different thread altogether. Pray that someone figures out how stupid that requirement is and repeals that section.

Well because we don't have to worry about top-heavy minimums, and nondiscrimination, maybe it's not to so bad after all . You just have to do a 5500 I guess. I suppose our fees have to go up a lot now that all of that is required. But I guess it doesn;t prevent the owner from maxing out with zero contributions for any employees. And they need a fidelity bond. I too don't see the need for two separate plans, especially taking into account all of the extra fees.

Hmmm... That really stinks. i mean really I guess most of the solos are just husband and wife at most. It will just be one more thing to watch out for I guess.

So my mind starting twisting around in circles over this question. A solo 401(k) plan is exempt from ERISA and therefore presumably exempt from the new "Long-Term Part Time" employee rules. Or is it? Because if it is not exempt from those rules, there are an awful lot of solo 401k plans that will no longer be solo 401k plans. And that would really make me go Hmmm.... Anyone know what the story is?

Mimecast has a feature whereby it scans outgoing emails for SS#'s. The problem is that there are too many false postives, the most annoying of which is that it seems to scan even things like peoples Facebook links. So there are some clients every time I email them I have to delete their signature to avoid getting bounced. Is that commonplace with all of these tools? Is there a better mousetrap out there?

Well if anyone out there knows, chances are they visit these message board! Let's hope!

I assume the IRS has made a decision about whether or not they will extend the Auto Enrollment missed deferral corrections in ECPRS which sunset at the end of the year. Has anyone heard what that decision is?

45 days from teh date you get the letter, which will likely be middle of November at the earliest. And then in my experience if they are making a lot of progress, they would then send a letter that the audit is in progress. I'll tell you in all my years I never heard of a fine being levied on a plan administrator that was getting the audit worked on. Has anyone actually seen a fine levied because the audit was not returned in that 45 day period when the plan admin made it clear it was a work in progress? That seems awfully hard to imagine.

I have seen some auditors attach to the 5500 as the audit report a letter that basically says "hey. we're working on the audit." The benefit of this approach (which is what I don;t like about it) as the filing will be accepted without error. I happen to think it is a little disingenuous because though it looks like you are "doing the right thing" by disclosing the fact that you are working on the audit it has the effect of hiding the fact that you haven't done the audit. Do others recommend in favor of or against this approach?

A different market? A different industry altogether. Nay, a different world!

Agreed, but it seems that I'm already in a similar situation with these brokerage accounts.

Update: T Rowe Price offers this with a choice of Invesnet or Mesirow as the 3(38) with no traditional advisor. From a business/relationship perspective AND from a philisophical perspective I believe strongly in the role that an advisor plans. But there are plans that my best relationships would not want to go anywhere near because they are too small, and I have others where the client will not under any circumstance incur an additional expense. It is these two scenarios that this would be a good fit. In fact two I have in mind rejected very competitive investment advisory scenarios and opted to keep the "cheap/free" Fidelity Non-Prototype accounts.

With a 3(38) attached? (updated: I emailed our contact at T Rowe, and will update when I hear back).

OK my wife's company uses Nuance (now KoFax) and theirs seems to do everything I need it to (i.e., none of the deal breakers above are present). Still not as good as Adobe, but definitely pretty good! I ended up doing Kofax Power PDF Advanced version 4.0. It costs $200, so a lot less than Adobe and again it seems to be adequate. So again, if I open a file a 2nd time, it just activates the window that already has the file open.

Too bad. I guess the 3(38) is the way to go. I've seen them for 7/8 basis points before. Of course they wont do a darn thing for you, but then again you don't need them to. If I take that lead and run with it, has anyone seen a RK platform that will just use one of those 3(38)'s as the advisor (i.e., a Morningstar or Mesirow), and not a traditional advisor (and unbundle)? Can Am Funds RK Direct do this?? Come to think of it TIAA does this. But I think if TIAA were the last 401k vendor on earth I wouldn't put a new plan there!

"I see no reason to have the same document opened in two windows" I might be working 4 separate pdfs within a 10 minute span. A plan document, a census report, a contribution report and an ACP test just to let you know where I am coming from. I admit there are times (many of them) when I reopen the census report (I may not have looked a that particular report in half an hour for example). In Adobe, if I "reopen" the census report it just activates the window that already has it. Fox it just reopens it a 2nd copy and both versions are read only. Which I think can really only be justly called a bug. I don't see this as a practical solution. I think part of the difference might be that we print nothing in our offices anymore, we're completely paperless. So that means I have lots of pdf documents open all at once. Cheap is good, but productivity is better I think is where this might shake out for me...

Does anyone know of a recordkeeper will take a plan with no advisor? I think Employee Fiduciary mught be one? If so, what have the sponsors done for an investment line up? I was thinking the sponsor might choose just offer some series of target date funds... We have a decent number of clients who won't leave brokerage accounts because they don;t want to pay 50bps to an advisor. And some plans are so small no advisor would ever take them.

Now I found with FoxIt too another issue is that before I know i have 15 windows open. If I open a new PDF if it opens a new window, even if another is sitting their empty and unused. I can't understand how these packages get everything so incredibly right, but not something the "big boys" have figured out is a requirement. Adobe, Excel, Word, they all figured out how to easily manage multiple open documents in different windows that can be dragged around from monitor to monitor. You'd think that would be an obvious enhancement with dual monitors being the absolute norm...

Exactly which is a problem when you make changes on the wrong one

The software is still looking good, but there is a small problem that cropped up. It allows me to open the same file multiple times which gets real real messy. Have you guys had the issue and is there a workaround? I'm startign to think there might be a reason Adobe charges more...

Fox it does what I want it to! IT also defaulted to a tabbed format, but I easily found a box to check (allow multiple instances) to have separate windows open for every file. I also think the type writer feature works better in Fox it then Nitro. I think everything else is pretty standard. We use stamps a lot and those are pretty easy to use. I think I may have found a winner!

My problem with Nitro is that, because we are paperless, I want new pdf documents to open the way Adobe and Excel do, where you can move the two windows on different screens, It defaults to the "tabbed" view which is very annoying. It's trrue you can drag a dab outside to open a new window, but it's a little too slow, and adds an extra step for us way too often. Aside from that Nitro was very very slick, and I actually liked the layout/tools, etc more than Adobe. Very very good recommendation, I'm actually really disappointed that it won;t work. I even asked them if there was a default setting change (it isn;t).

For either of these, do they always allow you to update to the newest verison? Thats the issue with Adobe is we all have different versions, some much older than others.

Thanks! I'll take a look!