david rigby

Generally, I trust advice from www.komando.com

Without commenting on smartphones, this included discussion about the HP12C, and others: http://benefitslink.com/boards/index.php?showtopic=41289

Good question. I'm not one to subscribe "smart" to an IRS computer. My understanding is that the 10% excise tax is due immediately, so if the ER waits until the IRS asks for it, they may impose some penalty and/or interest. Due dates on page 2 of the Form 5330 Instructions, http://www.irs.gov/retirement/article/0,,id=200959,00.html

I think the IRS expects the PA to pay a 10% excise tax.

If you amend to allow the retiree to elect a lump sum, don't forget the spousal election.

Is this a distress (or involuntary) termination?

While such stories are sad, and BOA and others may have "security holes", ultimately the blame must lie with those who steal.

Although a plan termination is in process, day-to-day plan administration does not stop. - If the EE wants to retire, then do so under the plan. The PA may accomplish this by purchasing an annuity (it's permitted by the plan, isn't it?). - Alternateively, if the PA wants to amend the plan to add a lump sum option for a retiring EE, not sure if this is permissible. Note that such amendment will change the overall plan liability, so it is advisable to review the instructions for Form 500. http://www.pbgc.gov/practitioners/plan-ter.../page13260.html

That's a very small accrued benefit. Are you sure it's under $5K?

When searching, don't forget to check for deceased. This link is one mechanism for doing so: http://ssdi.rootsweb.ancestry.com/

One wonders if this plan passes 410(b).

Is the Plan "in the hole"?

Can the ER adjust the next paycheck to "true up"?

Ditto advice from SoCal and masteff. This may not a "wash" as you imply, so do each step separately and completely. As implied in Post #1, this situation will recur. If so, Andy correctly advises a plan termination, before the next RMD is due.

Charts on McKay-Hockman site: http://www.mhco.com/Library/Charts_010407.html

Data as of 26-FEB-10 (Friday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 5.21 5.21 Aa 5.58 5.43 5.51 A 5.77 5.69 5.73 Baa 6.17 6.29 6.23 Avg 5.84 5.65 5.75 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 0.59 Medium-Term (5-10 yrs) 2.27 Long-Term (10+ yrs) 4.04

QDROphile is correct. If the NQ plan does not have any existing language, it may be prudent to consider if there is any precedent. At any rate, perhaps the plan sponsor should take this opportunity to amend the plan to incorporate some provisions for beneficiary identification. This might emulate the qualified plan, but is not required to do so.

Assuming I've read my own chart correctly, an EE with 2008 comp > 105K will be an HCE in 2009.

The rules for any plan are (one hopes) contained in the plan itself.

Thou shalt not violate 415.

Another opportunity for an acronym? HQIA?

Less dollars going into the retirement program (one or more plans), then less dollars coming out in the form of benefits. Period.

Does it matter that this is a defined benefit plan?

Brings new meaning to the chicken-or-egg debate.

Maybe he did mean that.