mlp0816

After re-reading your post... so does that mean the max comp level in this case is $245k but the max contributions allowed is $50k?

Great... thanks!

Have a 401(k) Plan with a PYE 10/31 (which of course means the Plan Year began on 11/1/11. What is the maximum compensation level that can be used to calculate the a potential Profit Sharing amount. $245k or $250K? Thanks.

Perfect...thanks.

Looking for an IRS ruling that an interest rate is requried when making a loan from a 401(k) Plan. My Client wants to offer a "0%" interest rate loan to the employee's.....

Are 403(b) Church Plans excused from filing a Form 5500 if they offer an Employer Match

Are you allowed to add a loan provision to a cash balance plan?

We recently pulled all of our welfare benefit programs together under one document, however, the plans still exist separately. Do we need to file separate 5500's for each or could all be filed under one 5500 form?

Didn't think about the audit fees. All three have approx 75 eligible employees... Thanks!

Our company has now purchased two other companies. Both, including our site have 401(k) plans. It will be a controlled group situation. Can anyone share the risks and benefits of merging the three locations together under one plan? Is there a benefit other than the possibility of a reduced expense situation? Are there risks to merging these plans in a down market? Really appreciate any helpful advice!

I have a situation where a corporation "A" (which has a 401(k) PS plan), has been sold to Corporation "B" and Corp "A" will cease to exist as of March 30th, 2009. The employee's of corporation "A" will become employees of Corporation "B" and will be eligible to participate in Corp "B"'s 401(k) at this same time (March 31st). My question is - the owners of Corporation "A" wish to terminate the plan and allow the participants to have the option to eiher cashing out their 401(k) balance or rolling it to another qualified plan. My initial thought is that if the employees have a new (alternative) 401(k) that they are eligible to participate in, we should require a plan transfer of assets and not allow a distributable event. Is there a rule in this situation? Thanks in advance!

An employee has a retirment account from the Public Employee Retirement System (Ohio). Can these dollars be rolled over into our 401(k) Plan? Is there a specific reg that addresses this type of rollover? Thanks in advance

does a Form 5500 have to be filed with the EBSA for all qualified plans?

Ok.. thanks

Can a participant make a hardship withdrawal from ER dollars held within a MPPP as long as it is for an immediate and heavy financial need on the participant? Or, are hardships not allowed with MPPP plans?

Got it... thanks for the advice

Have a client who has a 90 day service requirement to become eligible for the 401(k) and then entry on the 1st day of the month after the service requirement is met. Plan also states immediate vesting. Once in the plan, the client offers a 10% employer PS contribution....question.... since the plan reads immediate vesting, should the PS contribution be calculated taking in account the 90 days that the participant was not in the plan? Or, should the PS amount only given for the time the Participant was actually in the plan? Appreciate the assitance...

Can a 401(k) plan be ammended to allow in-service non-hardship withdrawals to any participant under the age of 59 1/2 so that he or she can cash out or roll the funds to an IRA? Client wants to use as a retention tool.

If a client has a Profit Sharing Plan and a Cash Balance Plan, do they need to file two separate 5500's?

Can anyone list or point me in the direction of what should be included in an annual retirement plan review?

Shot in the Dark.... yes that is what I'm asking. I have one participant who owns exactly 5% of the outstanding stock of the company. And I have one that owns more than 5.1% of the outstanding stock. Are they both considered 5% shareholders?

If you own 5% of the company's oustanding stock, are you considered a 5% shareholder?

An eligible employee (plan doc states that employee's are eligible to join the 401(k) plan after one hour of service) wants to roll his 401(k) from a previous employer into his current employers plan. However, enrollment dates for the current plan are Jan 1 and July 1. Can this employee set up the rollover account now, prior to the actual enrollment date of Jan 1?

Great...thanks for the help!

Can a company who does not currently offer a qualified profit sharing plan, start one now and make a 2005 contribution if they have not yet filed their 2005 corporate taxes?