david rigby

1. If there is a pattern of rehires, don't do it early. 2. The ERISA requirement is that the VT be put on the Schedule SSA for the plan year following the plan year in which DOT occurred, and that your notification to the VT occur on or before this date.

From June 2011: http://www.ifrs.org/News/Press+Releases/IAS+19+June+2011.htm Unfortunately, to read the entire revised Statement 19, you must be a subscriber, but here is a summary: http://www.ifrs.org/NR/rdonlyres/D06B86E4-...FSIAS190611.pdf Not much detail available, but it appears that sponsors of multi-employer plans must include some information about withdrawal liability (page 19).

Data as of 29-JUL-11 (Friday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 4.67 4.67 Aa 4.90 4.81 4.86 A 5.09 5.08 5.09 Baa 5.54 5.64 5.59 Avg 5.18 5.05 5.12 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 0.21 Medium-Term (5-10 yrs) 1.11 Long-Term (10+ yrs) 3.28

Above advice is desirable. While the original post defined an unusual benefit, it is not impossible. It is probably not permitted by plan design. It is also not likely any well-designed plan would include this form of payment. However, don't jump to the conclusion that no portion of the AP benefit stream can be paid to an estate after death of the AP. Example: if AP elects a life annuity with 10-yr guarantee, fails to name a beneficiary, and dies before 10 years, then the default beneficiary may be the AP's estate.

While this might be OK, prudence indicates a very close inspection of the document first to ensure no conflicting terms.

Pretty good summary. Check the plan document for any definitions that help define distributable event (although that phrase may not be used). Severance from employment will be one of those events, but there might be other relevant definitions.

Just for clarity, please add some more flesh to this skeleton.

March 14

Yes, else the plan administration will not follow the plan document.

This PRD sounds like an installment refund annuity, or maybe a cash refund annuity. For an unmarried participant, the plan (probably) does not care who the beneficiary is, so it should not object to the participant changing the beneficiary designation. Although you may have to read between the lines a bit, I'll guess the plan already specifies the answer to this question. If there is nothing in the Plan, does the plan sponsor want to amend the plan to clarify that the unmarried participant has this right? If so, amend away.

Similar discussion: http://benefitslink.com/boards/index.php?showtopic=49196

Check to see if IRS Reg. 1.401(a)-20, Q&A27 applies to your situation.

So, the "bonus" is contingent on future service? Wow, is that a bad idea!

An email? You're kidding, right? IMHO, go directly to the president. If the VP screws up and gets fired, your company and/or innocent other employees may also suffer. Better to let the Pres know that there might be a compliance problem (it's also possible that you don't have all the facts). It's always best to take the high road.

All the other participants got vested, didn't they?

The IRS has said NO.

A few previous discussions on this topic. Try the Search feature, using search terms such as "embezzle", "embezzlement", etc.

Without commenting on specifics of your case, I suggest the IRS reasoning is that, on the DOPT, no BIS has occurred for anyone who terminated employment in the same plan year.

Data as of 30-JUN-11 (Thursday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 5.14 5.14 Aa 5.19 5.16 5.18 A 5.41 5.40 5.41 Baa 5.82 5.97 5.90 Avg 5.47 5.42 5.45 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 0.17 Medium-Term (5-10 yrs) 1.26 Long-Term (10+ yrs) 3.50

IMHO, this means the plan must not apply any 415-related increases. To apply increases (using administrative procedure?) is a failure to follow the document.

Helpful? http://benefitslink.com/boards/index.php?showtopic=47756

Yes, but.... DOT is in 2008, but the original post did not say if that is before, or after, PPA effective date.

Perhaps I'm missing something: what is the relationship between the plan year and the timing of the amendment to terminate?

Credit to Nevin Adams of Plansponsor.com for this list: - If you don’t speak up, people will assume you’re happy with the way things are. - If you don’t love yourself, nobody else will. - If you wouldn’t want your mother to learn about it, don’t do it. - Paying the minimum due on your credit cards is dumb. - High school ISN’T the best time in your life. - Never miss a chance to tell someone “thank you.” - You’ll fall in love more than once – or at least think you have. - Never assume that your employer (or your boss) is looking out for your best interests. - You can be liked AND respected. - Sometimes the questions are complicated and the answers – aren’t. - Hug your parents – often. - Know at least a little about sports and the weather. - “What do you think?” is a great response when you don’t know the answer. - The hardest thing to do is quit while you’re ahead. - The second hardest thing to do is to keep your mouth shut. - Never assume that “senior management” knows what they’re doing. - “Have you been working out?” is the best thing you can say to someone. The second best is, “Have you lost weight?” - People notice people that don’t swear. - Breaking up IS hard to do. - Listen. - Smile. - Read. - That 401(k) match is not “free” money – but it doesn’t cost you anything. - Start saving for retirement – now!

the irony is that the IRS has no need for this information, except that ERISA states IRS is the conduit to the SSA. If we change the statute to substitute SSA instead of IRS, I wonder if we get the same level of gobbledygook.