alexa

What type of severance plans require a Form 5500 filing? If filing is required, how does one determine participant count? Is it all active employees eligible for the plan? Do you need to include those who have severed still receiving severance benefits? 1 of our subs who also has a separate severance program has never filed a Form 5000 (since 2015). Assuming should have is the DOL delinquent filer program the only option. active employees currently eligible for 2019 is 211. Thanks Alexa ps. 1 follow-up : we do exclude in another section of plan compensation "long term disability payments" but STD is not mentioned here

We have 3 plans, CDHP< PPO & PPO Plus with PPO plus being most generous and highest cost Can an employee who gets married change his plan option from PPO Plus to CDHP or vice versa(if in CDHP chnage to PPO for example? thnaks Lexy

We have a forfeiture balance of approx 60K @ 12/31/16 (Plan A) We are merging this plan into a parent company plan (Plan B) effective 1/1/2018 Current forfeiture balance in Plan A is about 190K. I have suggested in reducing forfeiture prior to merger by reducing matching , plan admin fees, allocation to participants (current Plan A order of forfeiture alloacation) But what about the 62K as of 12/31/16- there was certainly enough employer match & plan admin expenses to reduce the forefeiture balance at 12/31/16 to zero! Can we use this 62K toward 2017 employer match /amin expenses or must we allocate to participants as of 12/31/16 base on their Comp to total Comp Much thanks! Lexy

An employee submitted an election to stop making 401(k) contributions shortly before her hardship distribution. Payroll continued to withhold the 401(k) and did stop it until about 2 months later. How does one correct this? This happened during 2016 tax year thanks Lexy

Update to above: NQ Plan 1 allows for both base salary & bonus deferral as well. NQ Plan 2 has base salary & bonus deferral and supplemental profit sharing contributions (this is an excess of the profit sharing of 5% of profit sharing in qualified DC plan that may be reduced in the qualified plan due to annual contribution limits). This supplmental profit sharing contribution of 5% of pay in the qualified plan ends 12/31/17

We took over a company early 2016 (stock purchase) which has an NQ plan which is employee deferral only, no employer contribution (I'll call this NQ Plan 2). Eligible employees are Associate Director or above (currently 90 are eligible, about 25 defer) We also have a current NQ plan for 10 Executives (directly report to CEO that is employer only contributions (10% of base pay). I'll call this NQ Plan 1. Currently none of the NQ Plan 2 participate in NQ Plan 1. 1 of the NQ Plan 2 employees (reports directly to the CEO and otherwise satisfies NQ Plan 1 eligibility and we would like him to be added to NQ Plan 1 effective 1/1/18 We do not offer current Assocate Director or above any NQ plan except for the 10 executives Both plans have rabbi trusts. Distribution payout options are different It was decided to merge the 2 plans 1/1/2018.Does anyone foresee any issues with the merger? What would the steps be to merge the plans? An option we are considering is perhaps to freeze NQ Plan 2 instead of merging it into NQ Plan 1 eff 1/1/18. Business case is current employees at Assoc. Director level do not have access to an NQ arrangement . We are past the transition period of the stock purchase agreement Any issues to consider here? Can we terminate NQ Plan 2 and force distribution of all benefits? The current payout options are lump sum or installment payments. My recollection is that if you terminate one NQ plan must terminate all? Any tax issues with merging, freezing or terminating plan? Thanks in advance for any insights. Lexy

Just to clarify everyone employed prior to say 1/1/17 keeps old plan and does not get the new consumer directed plan. New hires only get the option the high deductible plan Lexy

Currently we have a PPO H&W Plan with fairly generous H&W benefits. We are thinking about offering a new consumer directed high deductible health plan with an HSA but just for new hires. Does anyone see any issues with this? Thanks Lexy

I have coverage up to and including 5/31; so 6/1 is date I n longer am covered I requested the COBRA notice shortly after I left to get figures so I would have enough time to decide which route to take, COBRA for a few months or individual marketplace I did get a revised notice saying I have until 7/30 to get election form in to them I assume as long as I have the notice postmarked by 7/30 that will satisfy? i am getting a delivery receipt fro that day

thanks, I thought so But when does the 60 day clock , if you will, start from? the date of the notice or the date the medical coverage ends if later? so in my example 7/12 or 7/30?

when does the COBRA election period begin? e.g. date of termination of employment i 5/6/16; medical coverage ends 6/1/16 The Notice was given 5/12/16; notice indicates Election formmust be received no later than 7/11/16 I would have thought the ex-employee had 50 days from 6/1 or 7/30 to elect COBRA continuation? does it matter if it'd a non-ERISA governmental plan? thanks Lexy

Our match is very small capped at $800/year:) thanks

We have a 457(b) plan where we match 10% of an employee's elective deferral. I know that the 457(b) employee contribution is state taxable in PA but what about the 457(b) employer match? The match is 100% vested immediately; we match each pay period Thanks Lexy

I'm talking about are pension payments considered state taxable income e.g. PA doe snot state tax monthly pension payments

Does anyone have a recent list of which states do & do not tax monthly pension annuities? we are a quasi state governmental entity thanks Alexa

I thought governmental plans are not subject to QJSA rules? I know we do not require spousal consent if a retiree who is married elects a SLA

what do you mean by proper amended definition of actuarial equiv.? we are using 8% '83GAM for actuarial equivalence to convert SLA to J&S with pop-up options

We have a retiree above 415 limit by $200 on a Single Life Annuity(SLA) basis He wants 50% J&S option and that is under the 415 limit but do we need to apply the J&S factor to capped SLA The 50% J&S benefit comes with a pop-up feature but this is the actuarail equivalent of SLA so I assume no further adjustment to 415 limit Our plan right now doesn't increase the benefit to retirees when the 415 limit increases. Can we amend our plan now does anyone have info on 415(m) excess plans? are they subject to FICA?

No spouse at time of death per son Participant died at age 78 ; I am bringing file back from archive (hopefully we have- another instance of someone gone for 20+ years yielded a destroy archive file since > 20 years:) Current policy is to keep pension records for 50 years:)

I don't want any DOL/IRS penalties;) I just found out that the payee was deceased in June 1984 just before the 7/1/84 check was issued I am getting confirmation from the son of the deceased who found the check (after 30 years in his father's stuff:))

I don't have this person in our data as a current retiree I only have a first initial of first name and no social security # so unable to determine whether a plan participant or not We have 5 pension plans so not sure which one we would cut a check from

I received in the mail a check dated in 1984 for $235 from I presume a plan participant who stated he never cashed it. It is a former pension plan trustee we had way back when He wants us to reissue Are there any rules out there on this?

Mbozek- interesting about state law & interest Does state of PA require interest on the refund? Our pension attorney suggested adding some interest. We refund non-vested eligible participants at 4% on their employee contributions in the pension plan. Thanks Lexy

The significance of the 2 tax years is that the withholding of mandatory employee contributions ;i.e. pickup contributions, occurred in both 2014 & 2015 Payroll Mgr is saying he would have to amend employee's 2014 W-2 My question is can this just be refunded through payroll and reported on 2015 W-2 The amount is <$500:) I would feel more comfortable doing this than a Form 1099 plan distribution

How would one correct this since 2 tax years? Could it all be refunded this year(2015) and taxable in 2015? It was a pre-tax employee contribution when withheld Is interest required on the refund? thanks