BG5150

The stinky thing about them is that a lot of times they are interesting threads. I start to read through them, crafting potential responses in my head. that's when I realize the darned thing is six years old! Then I get to the "get your Uggs here" links. *Report*

Is this an off-calendar plan? The 2011 Form 5500 ship has sailed...

Nope. When doling out the refunds, you start with the HCEs with highest deferral dollars and level downward. If anyone has catch-up to spare, it will offset the amount paid, but doesn't eliminate it from consideration.

CPC!!! So, do you think that would be an acceptable answer on the essay part?

I see no issue. Birth date won't change.

No.

No. The additional interest that accrues is phantom interest. It would have to be paid back if the participant wants to repay the loan in order to get another one. When the participant has a distributable event, the loan is offset, ceases to accrue interest and no longer shows on the 5500.

Isn't third party sick pay usually excluded?

Crap. Just realized I replied to a thread OVER 7 YEARS OLD!!

Doesn't the mailbox rule apply here? If the assets were segregated from the ER's assets timely, ie check or wire sent, there is no late transaction. Nothing says it has to be in people's accounts.

Well, I'm taking ERPA part II in early February. That'll give me some 4 1/2 months to do all 4. They are multiple choice so I don't think they would be about articulating complex issues. Just guessing, as I've never seen the questions. Lemme make sure I pass ERPA first and then I think I'll be able to finish the modules with 10-15 hours of study time each.

Well, I'm a QPA now. (pauses until applause simmers down) The next logical step is CPC. My question is on the modules. ASPPA has a "deal" on the 4 core modules: $405 for the 4 core modules. The thing is, they "expire" at the end of June. Any ideas if completing the 4 in that time is feasible? I'm not sure of the depth and breadth of the topics. For the modules, at least, do I have to LEARN the material? Or is it sufficient to be a competent researcher? And when researching, what's the scope of the questions? Website says 5-20 hours of study. Is that reasonable? Your thoughts are appreciated.

Were her gross 401(k) contributions $10,000? 'Cause she can't take the earnings. Also, she should take the loan first. She needs to take all available loans & distributions before she can take a hardship.

"Deferrals" mean 401(k) deferrals. EmployER contributions are NOT part of compensation. If you have access to the ERISA Outline Book, there is a chart in there that compares all the stuff that gets included for compensation for plan purposes when using safe harbor 415, simplified 415, W2 or withholding wages. They are all pretty close, but there are some subtle differences.

have you asked your document provider what they think?

Brings back fond memories of grammar school.

Darn, Andy. I usually just mimeograph posts at BL and send them to my clients to help in their defense during audits and investigations.

Or you can take ASPPA's intro Retirement Plan Fundamentals tests. PS: It's Sungard Relius One last thing: you will never really get 100% of compensation for 401(k), as some will money will be required to be withheld for Medicare, etc. Last, last thing: your plan document should (has to) spell out what the correction of a 415 failure will be. Usually, it's a refund of 401(k) money first, then Employer money.

When did you send him the form? Did you follow up with him or JH to see if the RMD was done? Did you impress upon the Employer that not only was the RMD an individual tax issue, but a plan qualification issue as well? I agree with those above int hat you make sure the RMD is done and then write a mea culpa (or a JH culpa) saying "I really meant to do this on time, but someone messed up." And, an RMD does NOT require the signature of the participant, just an authorized signer of the plan, so if there is someone else at the company that signs off on forms, it could have been done before 12/31.

You don't classify match as catch-up. There should be somewhere in the document that says whether or not the match will apply to deferrals classified as catch-up. If the match does not apply to catch-up contributions, you forfeit the amount that was attributable to the catch-ups. If it does apply, then you do refunds of the funds per ACP testing rules.

Does the plan not allow for catchups to match?

If the loan porgram says payroll deduction only, then how do you handle a loan to an owner? Besides, the loan program can be changed at any time.

My cape doesn't flutter any more. Can we no longer use .gifs for our avatars?

If there ever was an SPD it sounds like the plan was at one time covered under ERISA. That is an irrevocoble commitment. They can't decide to not be covered under ERISA any more. Or did they do an SPD out of the goodness of heir hearts?

From the EOB: Chap 5, Sec II, A.3c