BG5150

Don't withdrawals from Roth have to be done pro-rata, after-tax to earnings?

The reports I use, only show the aggregated %. There may be a report that shows actual vs attributed, but I'm not sure what it is. I'm sure that you could create a report with that info with Crystal Reporter.

No problem. I am, after all, Bartman.

if the soon-to-be ex-spouse is okay with receiving no benefits from the plan, he or she should have no problem signing off on a beneficiary designation that names someone else.

Or, absent guidance in your document, you make the best estimate you can, document it, and be consistent from year to year.

Has Mr. Churn been appointed by the Trustees to provide investment advice to plan participants? Or is this relationship outside of the plan?

All three should be showing 100% if they are coded correctly.

Amend to remove J&S from the plan, but require spousal consent for whatever you'd like. We have plans that require spousal consent for loans but not for distributions.

You can add 401(k) & SH by Oct 1 for calendar year plans.

FWIW, I'd do the amendment as: "as soon as administratively feasible" instead of immediately. Gives some breathing room.

^ but it puts pressure on the ER to determine what a hardship is for everyone.

I would put it under "other income." To be honest, I don't think it matters a whole heckuva lot if you put it in other interest of other income.

Yes. If you already did the refunds, than a 1-to-1 QNEC should probably be done. Problem might be that you cannot disaggregate the otherwise excludables. So, if you have to re-run the test with everyone in it, you may get higher refunds. SCP, not VCP, though.

Why can't the ER loan him the money?

(totally noob question) Can you not amend the tax form?

Rich, It looks like the other people qualified for the plan at one time or another. Whether or not they are making 401(k) contributions is irrelevant. They are participants in the plan even if they are just allowed to make 401(k) contributions (and choose not to). Therefore, unless all the other people are the spouses of the owner then it is not a "one participant" plan. I would say 4 participants, 1 account balance.

What do banks in the area (of the employer) charge for similar loans?

Most plan docs only allow waivers if the waiver is completed prior to becoming a participant in the plan.

Did you ask Corbel what their thoughts are? You're paying Derrin & his cohorts a lot of dough. Take advantage of it.

Forfeitures can be used to offset an ERs obligation to a DB plan. What's the difference?

Just don't check off Sched C as an attachment in question 10 on the 5500. Wouldn't the algorithm feed off of that?

I would counter to the vendor the 30 days is not mandatory, but merely a safe harbor date. It's 30 or what's reasonable under the circumstances.

Tom, your language comes from the restatement (for ERISA probably). It doesn't say anything about subsequent amendments. In the OP's case, I would think there is no excluded class in the plan doc at the moment. So everyone who was eligible as/of the restatement date continues to be eligible. However, come 7/1/14, everyone in "Division A" is excluded, that amendment trumps what was in the document signed 5 years ago.

The OP says it's a SH match. There is no way the govn't would let you put a vesting schedule on a missed SH match. I agree that the made up match (SH or regular) is NOT a QNEC and would be considered a match however the terms of the plan defines it (stated, discretionary, SH, SHQACA, etc)

However, it seems that I erred in saying that deferrals didn't count toward TH for Keys. I simply never knew that. I guess the grand majority of the case I deal with either exclude keys from TH, or the companies make a PS or SH to all that's greater than 3%.