Rai401k

Does any have any suggestions for ce credits, I guess I need to get the ball rolling to get enough credits for this year. I know ASPPA is an approved sponsor, I'll most likely will use them. Just curious to see what everyone else is doing?

phew! I applied sometime in the middle of May...still waiting, but I feel better that it probably won't be delayed. THANKS!!

On the 23-EP form where you have to enter your canidate id #, did everyone enter their PTIN on that line. Am i the only one who use the 6 digit number that AIRE assigned us? I just noticed on the ERPA website the question below: 2. Where do I provide my PTIN on Form 23-EP? [top] You will be required to furnish your PTIN on the ERPA enrollment application, Form 23-EP. Enter your PTIN in line #4 on Form 23-EP where it asks for the candidate ID number assigned by AIRE (entering your candidate ID number instead of a PTIN will significantly delay the application process). I really don't remember seeing this question when I applied. :angry: GREAT!!

From the erpaexam.org website Beginning in 2010, electronic payments (such as credit card payments) will be accepted through www.pay.gov. Until then, Form 23-EP must be mailed with check payment). The IRS’s Office of Professional Responsibility will process, review and act on your application for enrollment. It will generally take approximately 60 days for the IRS to process your application. Your status as an ERPA will not be effective until the IRS approves your request. You will not be authorized to practice before the IRS as an ERPA until your request has been approved. Call 1.313.234.1280 to check on the status of your request (please allow 60 days for processing before calling to check on the status of your application). Once approved, you will be granted Enrolled Retirement Plan Agent status, assigned an enrollment number and issued an enrollment card by the IRS. They have an overnight address on the instruction page of the form 23-EP, i sent it overnight to speed it up little bit Anyway congrats to everyone that passed the exam!

Employer currently has 25 employees 3 are HCE's. Employer Contributions consist of a 5% SH PS, 100% up to 5% match (stated), and a 5% fixed PS (not discretionary). They are in the process of hiring 18 people from a rival company. (plan has 2 month wait for elig. only) The problem is that they don't want to exclude these employees from the plan they just don't want to give them all of the benefits which is probably harder to do. They only want to give them the 5% SH PS. I know that we might not be able to amend the plan currently because it is a SH plan, but what options do we have? We were told we can amend the plan for next yr to exclude these employees from the stated match and fixed PS but we don't think it will pass coverage. We were looking to create a QSLOB for these employees but I beleive that there is a 50 employee min to create a qslob. Any suggestions will help!

Employer currently has 25 employees 3 are HCE's. Employer Contributions consist of a 5% SH PS, 100% up to 5% match (stated), and a 5% fixed PS (not discretionary). They are in the process of hiring 18 people from a rival company. (plan has 2 month wait for elig. only) The problem is that they don't want to exclude these employees from the plan they just don't want to give them all of the benefits which is probably harder to do. They only want to give them the 5% SH PS. I know that we might not be able to amend the plan currently because it is a SH plan, but what options do we have? We were told we can amend the plan for next yr to exclude these employees from the stated match and fixed PS but we don't think it will pass coverage. We were looking to create a QSLOB for these employees but I beleive that there is a 50 employee min to create a qslob. Any suggestions will help!

Thanks for the information Kevin C!

Did anyone take the ERPA exam during the winter session, if so...have you received your score yet? AIRE stated that the scores would come in the mail by 4/30. I was just curious to see if anyone has received their scores yet. We took the test toward the end of the winter session so I'm assuming we will have to wait until the end of April to get our scores!

Most of our plans are Calendar Year. When should we have the amendment signed by? We thought we had until September 2009 but we were going to have them signed by the 12/31/08. Now we are getting nervous that we should have had them signed by now? I'm interested to know how many TPA's have done them already? Is anyone out there in the same situation?

1. Does anyone know when would be a good time to start submitting EGTRRA pre-approved plan documents? We use Corbel's Volume Submitter Documents and they recently came out with the EGTRRA document. So we are in the process of restating our GUST documents to the EGTRRA docs. We want to submit these docs for determination letters? ( We understand that we don't need to since the documents are pre-approved, but we feel that it's a security net). 2. Should we wait until we adopt the PPA amendment in 2009 to submit? Would the determination letters be different if we applied now rather than later? 3. What amendments should be included when we submit? I've read that the EGTRRA good faith and 401(a)(9) amendment should be included? but we submitted these with our GUST documents, am I wrong in assuming that they do not need to be included? I believe that the amendments that need to be included are: 1. Autorollover amendment 2. Final 401(k) Amenmdent 3. Final 415 amendment (if we sumbit now) If we sumbit closer to 2010 then the 4. PPA amendment should be included 5. And possibly the HEART amendment (am I correct, I hope I have a good understanding of this!) ANY ADVICE WOULD BE HELPFUL!

I have a client that wants to allow his union employees to be eligible for the plan but does not want to give them a matching contribution as he does for everyone else now. Is this allowed and how do we go about doing this. Should we have 2 seperate plans one for reg employees and one for union members. How does this affect testing.

One of our clients has formed a company in the US Virgin Islands and wants to know if they could be added as a participating employer in their 401k plan. Is this possible and does it raise any issues (for example because of particpant's ss#). It is my understanding that the Virgin Islands tax laws operate as a mirror image of the IRS tax code. Virtually all of the same rules apply. That said, I don't know if elective deferrals are exempt from the local income tax, or what other issues might arise.

Our company would like to set up a Cafeteria Plan mid year 7/1/2005. 1. What would the effective date of the Plan be 1/1 or 7/1 and would the limits need to be reduced for the time the Plan not effective. i.e 2500 for dependant care instead of 5,000. 2. If a participant does not return his enrollment form on time can they do it the next entry date within the same year or must the wait until the next Plan year or 1/1/2006. 3. Can a participant elect to no longer put away money once an election has been made if they do not have a life cahnging event.

A CLIENT OF OURS HAS THE FOLLOWING MATCH FORMULA BASED ON YEARS OF SERVICE 1 Year of service: they match 33.33% of a participants annual deferral amount up to 6% of annual compensation. 5 Years of service: they match 66.67% up to 6% of annual compensation. 10 Years of service: they match 100% up to 6% of compensation. They now have an Adopting Employer Effective 1/1/05. They want the employees from the Adopting Employer Company to receive 100% match immediately (basically as if they worked with the company for 10 years) but any new employees hired after, or any current employees of our clients are still subject to the wait. Is this discriminatory

If a simple IRA is rolled over to a safe-harbor 401K Plan is the two year minimum participation rule waived?

We have been withholding the 20% on IRA rollovers for participants who have defaulted on loans. Example: Account balance 100,000 Loan 20,000 net 80,000 If the participant wants to rollover the 80,000 and default on the $20,000 loan we have been rolling over $76,000 and withholdng $4,000 for the defaulted loan. We have recently been told that is incorrect. Please advise.

We have a couple of new client that came over to us, some in the beginning of last year, some in the middle last year and some towards the end. Before they came over to us the trustees were individuals. When they signed on with us they chose to have a Corporate Trustee. Who signs the schedule P for the 2003 5500 if the trustee changed during the year? The individual trustee or the corporate trustee? Please help! Thanks

We have a participant that was terminated, and then rehired 6 months later. Does he have to wait until the next entry date or does he come in to the plan right away? Are the rules different for a terminated participant that has already taken a distribution and then months later be rehired?

Our Plan Document defines Dependant as "within the purview of Code Section 152". My question is it permissible for a medical reimbursement plan to allow reimbursement of medical expenses for children that do not meet the support test.

If I were to pay medical expenses (health insurance premiums) for a non-dependant child (I do not provide for more than 1/2 the support) would the expense be covered under a cafeteria plan

I have a question about something many people haven't heard of yet. The newest thing now when people have babies, is cord blood preservation. There is typically a several hundred to over a thousand dollar initial cost depending on the facility you choose. I have a client that might be doing this, would it fall within the flexible spending parameters?

I am new at this, can I use dependent day care expenses for an elderly parent if I am claming him as a dependant, he is living with us and care is required?

What proof is required before a claim for a baby sitter is processed. It is my understanding you need a federal ID numberand a paid reciept for a Day Care. I am not clear the rules for a baby sitter

What forms(roll over, etc.) need to be completed prior to a QDRO distribution to a non participating ex-spouse. Where can I find an example of these forms?

We would like to start a Cafeteria Plan effective April 2004, but would like to accept claims back to 1/1/2004 is this allowed.