BG5150

Drop a line to your local Congressman/woman and ask them to change the rules...

Bri got it right

Pro-tip: Whenever you make a poll, always make the last option "Other" or something like that. I often will make it something cheeky like "Who the heck cares? Get a hobby!"

I was always in between the two: EmployeR and employEE

Plan currently allows for in-service withdrawals at ag 59.5 for all sources. They would now like to limit it to only accounts that are 100% vested. Is there a cutback issue?

Employer had IRS Plan Number 003 terminated in 2003 and started PN 004 in 2004. I don't know what year they started filing the 5500-EZ, but I'm guessing it was a bunch of years ago. I see letters in my files going back to 2018, but I only have the EZs going back to 2015. The ones I have are all PN 001, so I'm assuming all the others are, too. What's the fix? Can I just fill out question 4 and change the PN there? I'd rather not amend 15 years worth of forms.

They should probably call EFTPS I think

Plan allows for in-plan Roth rollovers at any time as long as the funds are 100% vested. Is this a protected benefit?

Then the document actually DOES address it. Everyone who deferred 100% gets 4% of their bonus as a SH match. (really, anyone who defers at least 5% of their bonus gets the full match.)

Who's Bill?

What does the plan say?

The IRA shouldn't issue a 1099-R for that as it is a return of an ineligible contribution. The Plan will issue 2 1099's--one for the rollover and one for the excess. The IRA shouldn't be involved in the 1099s at all. However, everyone must pay attention in this. The plan will just be issuing the refund 1099-R for the excess and earnings gained (or lost) whilst in the plan. (Maybe) the IRA custodian issues a 1099-R for the gains on the refund? Or do the tell the plan and the plan will issue the refund 1099-R including plan and IRA earnings? I do not like the latter, becasue then 1099-R's don't match up to distributions from the account. And if there is a loss at the IRA, they need to tell the plan so it can issue the correct 1099-R? Again, you have a problem with the 1099's not matching distributions. Can you even do a negative 1099?

7 come 11...

Is the new table out? Where can I get it?

Not asking for you guys to do my work, but is there something in the EOB that outlines the calculation with the permitted disparity?

I stand corrected.

ASPPA is giving me the runaround. Iasked them this questions twice and no one has returned my e-mail. My co-worker took the practice test for the QKA1 exam. How can he see the question-by-question results? All he can see is the overall score. If that is not available, how will he know in which topics he is proficient and which he is deficient?

So who issues the 1099-R for the earnings? If that $5,000 is now worth $5,250, the former participant is getting cash totaling $5,250, but is only getting a 1099-R for $5,000. What if the account lost value? Say it's worth $4,750 now. Do you issue an amended 1099-R for $4,750?

I thought the RMD for the year of death is taxable to the participant. Anti-assignment prevents me from paying it elsewhere. Just was checking to see if we could pay it to the estate. I guess it wouldn't matter if we paid it tot he particiapnt; whoever has signing authority on behalf of her trust can cash the check.

Participant, former employee, died this year. She was taking RMDs. Can the 2021 RMD check be made payable to the estate?

"Portal." You mean portal. I hope.

Yeah. This should be fine.

I have the formula to calculate a 'regular' EBAR. That is, not including permitted disparity. Where can I find the formula for the permitted disparity? Does anyone have excel formulae to calculate either the EBAR given the contribution, or the contribution given the EBAR?

I don't think so either. Those funds didn't belong to anyone, everyone in the DB was fully funded. Therefore, there is no spouse to attached those funds to.

Is it an option do that in your document software?