alexa

No we do not have the same PPO. I am getting a copy of contract and taking a look at termination clause. Since we took over as a stock deal , I believe this should be honored since we take the prior contract albeit have terminated effective 9/30.

what is the amount required? thx

Are VEBA's required to have fidelity bond coverage? I'm thinking not since not a qualified plan

We are switching medical vendors for a company we purchased as part of a stock deal today. Prior medical vendor wants to charge us the regular ASO fee ($38/month/ee) for 3 months totalling around $45K I think this is high. All they will provide is run-out claims adminstration. We are self-insured. Has anyone else experienced this? What is a reasonable fee arrangement for this sort of service? Thanks

just a follow up ; our Company fiscal year ends 9/30 this is for calendar year plan year ending 12/31/07

When is the due date for the 4979 excise tax submitted on Form 5330? We extended our 401k plan until 10/15 thanks

I have someone on military leave for approx. 6 months who has just returned. He had benefits continuation for the 1st 30 days of military leave and then was offered COBRA which he declined. The employee would like to elect lower health & dependent care deductions upon return, is that ok?

I have an employee who has legal guardianship (joint with her live-in married boyfriend) Apparantly he cannot get a divorce since separated spouse is in & out of jail<gr>! The one child is the boyfriend's child and the other is his stepchild. Neither children are related to the employee. Altough the employee does jointly support the 2 children. The boyfiriend claims both children on his tax return as dependents; the employee does not. We allow the employee to cover children if there is court ordered legal guardianship documentation as this employee has. Is there a taxation issue of the value of the medical benefits provided for the children. Or is this covered under section 152 definition? Lexy

The problem is the trustee never sent us a master trust Form 5500 asset detail that was certified The sent a 1-page statement certifying the annual Form 5500 statements but prepared them as if they were separate Form 5500's so very confusing They sent us just the separate plans accounts showing a combined account for each plan but no combined combined Hope this makes sense Only think I can think of is that since the plans were separately accounted for we need to add the combined accounts together to get the Sch H info for the maseter trust filing BTW auditor is in agreement if there are 2 plans in 1 trust we have a master trust what was confusing did we indeed have that scenario based on the audit reports the trustee sent

We have 2 DB plans in 1 trust However, assets are not commingled; there are subaccounts setup for each plan. The plans have not merged. Our attorney is saying we have a "master trust" . Our auditor is saying "no" since the assets are not commingled; each plan has separate accounting and it is not a % of commingled assets Help! Does one have a master trust if 2 DB plans are in 1 trust ? And if yes, does a separate Form 5500 have to be filed fo rmaster trust What are the advantages of having a master trust? Thanks Lexy

What is the prevalence of allowing say a grandparent or other individual who has legal guardianship but hasn't adopted the child(ren) to cover the children under medical plan? Does anyone have any benchmarking data on this? Thanks! Lexy

We do not true-up match at year end. But we do send all HCE's a letter letting them know the ramifications of not deferring evening throughout the year and the posssibility of losing match money. Lexy This takes us back to my answer above which stated it depends on how the plan is written. There are ramifications to several different issues. And any scenario we can make up has a real life fact pattern that puts that scenario on its ear. I'll go you all one better.... we had a running true up.... so every payperiod we took the lesser of year-to-date deferrals or 3% of year-to-date eligible comp up to the limit and matched it. You could even have no deferral on the current payperiod and still get match because we calc'd it year-to-date (and yes, it was horrible to program). And we didn't apply the comp limit midyear so if a very HCE contributed 3% in January and December and nothing in between, we would allow deferral and match in both months. Keep in mind it also has impact on profit share, especially if it's paid as a fixed % per payperiod. In that case, you do effectively apply the limit mid-year because x% times $230K is a fixed dollar amount and the PS contribution S/B capped at that amount.

Let's use a numerical example, just so I understand. I have someone earning 600K annually who is over age 50. He is earning 300K by 7/1 and is deferring 6% each pay so by 7/1 his 401k deferral is 18K Is this ok?

I'm sorry but I can't seem to deciher a clear answer Please short circuit the responses and give me somethibg practicable<gr> Thx alexa

This question must have come up a zillion times before but I believe a recent reg has changed it Can someone defer a % of their total compensation, even if over the Comp limit?

Does anyone have a good list f state taxation of NQ plans? I have a DC SERP account balance excess match plan I know PA doesn't tax as money is being deposited but when distributed But I'm not real familair with other states. thanks Lexy

Thanks, the chart is a great resource! Lexy

Is a rollover from a SEP IRA to a 401k allowable? Is a SEP IRA considered a qualified plan? thanks Lexy

Does anyone have a template questionnaire with a list of questions we can ask references given by a consulting firm. We are looking to hire a consulting firm who would help us assess the return on investment to outsource benefits vs keeping in-house as is with Oracle. This outsourcing proposal would include impact to staffing, systems, payroll, HR, call center, eligibility files to vendors, billing, etc... Things we would want references input on would be thoroughness of consultant 's results, easily understood & presented well. If consultant's recommendation was implemented, was it valid? If anyone has gone through the pros & cons of outsourcing benefits or keeping in-house and has worked with an outside firm to help access the pros & cons, the reference questionairre template would be helpful Thanks in Advance Lexy

They better get on the stick, they have to do it for 409A anyway. (helpful comment, eh!) What do you mean? I'm not as up-to-speed on the 409A Is this the same key defintion as under VEBA?

I thought so But the trouble I am having is I am a list of all officers Noone in Legal can tell me who satisfies the 416 reg Can anyone provide help in this determination thanks

We fund our retiree life through a VEBA. We exclude key employees from this How is a key employee defined for VEBA purposes? thanks

yes he did have a 5-year break but was 100% vested in 401k employee deferral. It's my understanding in a 401k plan , the 5 year break issue becomes mute if you will due to 100% vesting in employee account. Do do you agree? Others input?

doc does mention the "full amount" of cash out received This particular individual did incur a 5 year break - plan doc seems to only allow for this buyback if didn't incur a 5-year break

At one point in time under PPA changes, the rollover of death benefit for nonspouse beneficiary was optional for a plan sponsor to adopt. Then IRS changed it to be mandatory. Does anyone have a cite either way , optional or mandatory? thanks