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Kimberly S

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  1. Will all of the 401(k) plan assets be distributed before the restatement deadline?
  2. Kimberly S


    Since the right to an in-service distribution at a particular age is a protected benefit that is not supposed to be removed and leaving it in is apparently what the client intended anyway, I think you have a terrific case to call it a scrivener's error.
  3. Depending on how the documents are written they might be eligible both ways.
  4. If the docment does not allow Roth deferrals, they cannot be accepted into the plan. Just like if you have a profit sharing plan with no deferrals, it cannot start accepting deferrals until after the amendment allowing them is signed.
  5. How did the CPA file the return without the client signing it or knowing about it?
  6. If they payer is required to make electronic deposits, there could be a problem with mailing a check. It's been almost a decade since I dealt with those rules, so you'll need to get the details of who is required to file electronically from someone who is up to date on those details.
  7. If the assets were not fully distributed within 12 months of the termination resolution, the plan was NOT terminated.
  8. I think Jim was asking if it would also pass 410(b) and 401(a)(4) after the reclassification.
  9. We forfeit in this situation and the gains or losses go with the forfeiture. I don't have a cite for this, but would rephrase the question to where is the cite to allow a distribution? Since the participant was not entitled to the match in the first place, he or she should not receive a distribution of it.
  10. If the document has immediate eligibilty for deferrals, why would you stop them based on not meeting the criteria to receive an employer contribution?
  11. If the S corp. income is on a W-2 it can be counted for plan purposes. If it's investment income, it cannot.
  12. I'm not sure how responsive it will be based on the questions asked. It appears to be strictly a statistical analysis of the types of corrections being done. There was no opportunity to comment about what would make the process work better.
  13. It's in a file called ERISA forms. Our system administrator has saved it to our network drive, so I'm not sure where to direct you.
  14. Would it not also be a cut back issue, since any HCE who has worked during the year has alreay earned the right to that benefit?
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