BG5150

And the corollary: What if I initially put 50% in A and it goes down to 48% the next day. does the system automatically top it off for the other funds?

What happens when through daily gains and losses pushes the investment over the threshold? Say my plan restricts me to 50% of my account to fund A and no limit for the others. My first deposit is $1000, 50% to fund A and 25% each to funds B and C. So: A: 500 B: 250 and 😄 250 Then tomorrow, my account looks like this: A: 505 B: 245 😄 245 Now fund A has more than 50%. Do some of the asset in fund A have to be automatically reallocated? if so how?

i believe so

The participant ostensibly paid tax on the $40 (I'm guessing there was no withholding <$200). Are you suggesting the r/k forfeit the funds the participant paid taxes on?

Is there nondiscrimination testing on the non-elective?

I think in some European countries they would call it 4 billions.

Thanks, all

I'm getting conflicting info on how discretionary the Enhanced Catch-ups for those age 60-83 is. The Catch-up provision is already a discretionary provision in 401(k) and 403(b) plans. And I understand the new enhanced catch-up rules (super catch-up?) are discretionary too. But to what extent? Can a plan have "regular" catch-ups but not the enhanced c/u? Does the plan sponsor have discretion on both c/u's or just the regular one?

I would think that absent a lawsuit where the plan administrator would have to provide documents under discovery, this ex-participant is out of luck. And what documents fall under that 'disclosure' rule? I would think simply SPD (and SMMs), SAR and any fee disclosures while they were a participant.

Check your plan document first.

Before this plan came to us, there was a partial plan termination. Many of the accounts were distributed, but not all. Those that remained just were given accelerated vesting. Do the accounts of participants involved in a partial plan term HAVE to be distributed? Or can they stay in the plan?

Adding any contribution other than the SH contributions remove the Top Heavy protections. @metsfan026 is this new group new employees? Or established employees who weren't eligible for the plan to begin with? If they are brand new employees, unless they are owners or family members of owners, they probably won't be HCEs. So a PS might be the way to go.

Lo- Lo- Lo- Lo- Loooolaaa!

How was it a mistake of fact (I am very conservative when if comes to MOF). i see this as an EPCRS issue. But I can envision a problem with the payroll system if they try to 'adjust' the amount of deferrals on the W2 (12 D or 12 AA) when the YTD report would show differently. Also, I would not trust if we did do the MOF, the payroll run would be correct. Remember, there were at least SOME taxes withheld before the deferrals. So, if they ran the extra amount through payroll, they would have to omit the taxes previously taken. And who gets the earnings? The company? I cannot see that is right. Participant? If so, how do they get them? From the plan in a separate transaction? From the company? if the latter, then gross income for the affected employees would be higher than their actual earnings from the company, inflating what the company would have to pay in payroll taxes and remit on the W3.

No one?

How does the accountant not know that? Isn't that their job to know? (Sorry, been a tough day. Just venting)

The plan administrator should follow the procedures in EPCRS to cure the excess allocation. It's section 6.06 if I'm not mistaken.

(And lets say for point of discussion, this is all Pre-tax)

Company had a bonus run mid-March. They told everyone mid February that the employees would have to go into the recordkeeper to change their deferral rate for the bonus if they wanted it changed, then go and switch it back after the run. This is a 360 integration and the recordkeeper sends a file feed to the payroll company with deferral changes on a pre-determined schedule. Turns out, the payroll company did not get the change file until several hours after the bonus was run. There were some 200 people who changed their rates and nearly all lowered or eliminated the deferral for the bonus. So now we have excess allocations. Simple enough fix: distribute the excess amounts (with earnings) to the participant. However, some people had very large amounts deferred. How does the company/payroll take into consideration that amount when looking at the 402(g) limit later int he year. many of these people max out each year. For example, Laura was deferring $2,000/month, intending on maxing out in December. Her bonus run had a deferral of $15,000 (yes, deferral was $15,000, not the bonus!). So, at the moment her YTD deferrals aer $19,000 (and will be $21k on Friday). If we refund her the $15k, it brings her PLAN contributions back to $4-6,000. But int he PAYROLL system she will still be at $19-21,000. Do they just go in and manually change the YTD 401(k)? I don't want them to stop her after May and having true deposits of only $10,000.

What does this mean? What kind of trouble? What is the remedy? For the participant? For the plan? In other words, what is the actual risk to the participant and/or the plan administrator/sponsor?

Where can I get a copy of the current ERISA, updated currently? I'd like to do some research on something and I want to use the primary source. And NOT the 1974 version, lol

What are the consequences if a plan allows self-certification of hardships and participants either lie or just don't understand the rules and take withdrawals that are not covered under the Safe Harbor rules? Does the participant get in trouble? Does the plan sponsor? What about a 3(16) Plan Administrator? (And side note, are self-certifications relegate to only SH reasons? Or can it be applied to a facts & circumstances provision?)

We use Relius Docs too, and this is what it says in the BPD. @EBECatty did you look in your BPD? If you cannot find it, I would put in a ticket with the document provider.

I think there is a PensionPro lite?

All that stuff Peter posted is about an EACA. Not a regular ol' ACA.