BG5150

That's why I'm going to batch transmit all my calender year 2012 5500's at noon on October 15. What could go wrong?

Jim, how do you get around coverage on that one?

I think no, and no. I believe they match up post 7/31 5500's to 5558's and not the other way around.

I see no problem other than the wrong tax id on the 1099-R. Two plans had an error, and the errors were corrected.

I would say they are still auto enrolled, b/c they haven't given any written (or electronic) direction as to what percentage is coming from their pay. So, they should get the annual notice. If they are going from 3% to 4% and they want to stay at 3%, then they'll have to make an affirmative election. Same thing with the 3% to 5% jump--they'll be getting a notice, and if they want to stay at 3%, they'll have to tell someone. About your side note: do you mean to ask if someone transfers investments, but keeps allocation in the default fund, are they still part of the QDIA? (instead of auto enroll?)

If no one really wants to participate, the SH Match could be quite cheap. Get ya out of Top Heavy, too, if there is no PS.

Do you have to redo ADP tests?

Maybe they don't want to open accounts up for people who would get $4.12 of profit sharing.

I have no cite, but FWIW, I agree with you. (So, just tell the auditor "Hey, BG agrees with me" and that should be the end of that. )

To me, $10k cap is not as good as the basic match. Someone making $255,000, deferring 5% or more would get a match of $10,200 this year.

Why not ask Sungard? They wrote it. From my experience, they have pretty good document support.

Keep a sheet of paper in with the 5500 files and keep track of the defaulted, but not offset, loans. Cross them off when they get offset.

I would say: 1) Original plan doc? No. Settlor function. 2) Restatement and required interim amendments? Yes. It must be done. 3) Annual maintenance fee? Yes. Admin fees can be paid from the plan. (And, can you elaborate on what the maint fee is for? How does a plan doc need maintenance during the year? ) My edits in italics. Man, I really should refrain from posting on day before holiday weekends....

I'm not really sure what the question means.

Yeah if it weren't for those darn clients one could get so much work done. If only we didn't need them to pay the bills. You mean you guys aren't independently wealthy and are doing this for kicks and giggles?

Was this person otherwise eligible to take a distribution? When did this happen? '12 or '13? If '12, did someone do a 1099? 945? Clients! Nuthin' but trouble, I tells ya!

A 408(b) Notice is good for the life of the contract. That is, until something changes. If your contract has an expiration date, the notice must be sent when the contract is renewed. Our contracts are on-going. It is assumed the relationship continues until one party or the other decides to cancel it. Now, after the initial notice, we only send another if fees change or if something is added,

Just some thoughts. 1) Get a SH match account set up now. 2) Is there any way the r/k can go back and separate regular match and SH match? 3) If not, you'll have to amend the plan to allow for SH from deferral and PS only. 4) Have any distributions been made for anyone who had regular and SH match and who was not 100% vested? If you, you forfeited too much. 5) Did anyone tell the ER they should open a new source? It should be part of your procedures, when doing the SH amendment, to let them know that it is a separate money source. 6) Is this the first year of the SH match? Why wasn't this seen during the annual reconciliation?

Gotta be somewhere in EPCRS. Ineligible hardship?

You are correct.

Thanks. heard it many years ago. Side note: UPS trains its drivers to try to make three rights instead of one left. It has proven to be more fuel- and time-efficient.

If I'm an owner and will not be benefitting, why should I offer my employees a plan? It would be something nice to do, however, it's a cost I don't want to bear. I'm guessing the availability of a 401(k) plan is not a recruiting tool when dealing with rank & file medical office employees.

My question is: if they are excluding the doctors--all of them--then why have a plan?

But if none of the key ee's are getting an allocation, there is no minimum contribution to be made. So what if the plan is 90% top heavy? (That's why I asked if there were any other key ee's)

Are there any key employees who are not doctors?