david rigby

You might also focus on the definition of "compensation" that is/should be included in the SPD.

Duplicate post. Put responses here:

Find a large nearby bank that offers trust services, and ask. If they don't want your business (perhaps they have a minimum size?), they may be able to recommend someone else.

Let's be clear here: when using the word "participant" in this post, do you mean that word to refer to the beneficiary?

Often, but not always, that "someone" is an attorney who is well-versed in QDROs (not all divorce lawyers are described by this statement). However, if the Plan in question is sponsored by a governmental organization (eg, a state employees' plan), then QDRO rules do not automatically apply; but many such plans have adopted similar rules. Therefore, your "someone" should know those rules also.

... and also well-versed in how little of ERISA applies to plans sponsored by governmental organizations.

Data as of June 30, 2020 (Tuesday) fourht month-end after beginning of Coved-19 pandemic/isolation Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial CorporateAaa NA 2.34 2.34Aa 2.77 2.42 2.60A 3.00 2.90 2.95Baa 3.38 3.80 3.59Avg 3.05 2.87 3.96 Moody's Daily Treasury Yield AveragesShort-Term (3-5 yrs) 0.21Medium-Term (5-10 yrs) 0.45 Long-Term (10+ yrs) 1.25 Observation: (1) Comparing the Avg rates to 6 months prior, current rates are about 45 points lower. (2) Comparing the Avg rates to 12 months prior, current rates are about 75 points lower.

Why are you yelling?

Caution, this could mean that whoever prepares the W-2s is not familiar with the rules. The original poster might consider whether to (1) alert the plan sponsor to get some advice from its auditor, and/or (2) assume future W-2s could include this (and other) errors. IOW, think outside the box.

Not dancing, but I would be willing to be a participant in the plan, just to be helpful in using up the surplus. ?

Confusing to me is use of the word "client". (It's Friday and my brain is already shutting down.) Just a suggestion, but it might help if you avoid that word, instead using word(s) that are more instructive of the relationship to the plan, the sponsor, the participant(s), the trustee, etc.

Also, take note that you don't have to split it. That is, following advice above, your attorney will help determine how to value the ESOP (and every other asset), which can then be used in "horse-trading". Do not assume each asset must be split, rather focus on splitting the total. Because there can be an administrative cost to each split, part of the negotiation can consider how to minimize those admin costs.

I agree that it's probably pretty easy to "target" the affected participant. However, could there be a 411d6 issue w/r/t such amendment?

Probably, the suggestion for a retroactive amendment was intended to deal only with this participant, so that it does not necessarily extend indefinitely.

IMHO, it was just sloppy to provide a LS estimate knowing the interest rates are incorrect.

In addition to Effen's comments, also consider whether there is any ability to "manage" the timing in the future. Suppose the stability period is the plan year (for example, ending 06/30), and the employee is retiring effective July 1, that means the interest rates should change for any LS paid on or after July 1. However, if the payment can be made on June 30, then you can use the prior year's rates. If the EE initiates a retirement application 3-4 months in advance, there should be sufficient time to address this Q; however, if the EE initiates a retirement application very late ("I'm retiring at the end of next week"), you will (probably) know that all the paperwork cannot be completed prior to June 30. And be consistent.

Could be, but the OP indicates DOD occurred after DOT. Very unusual, and likely not a good idea, to extend vesting provisions after DOT. BTW, the title of this thread uses the phrase "death benefit". Since the severance of employment appears to be what has triggered a distributable event, the plan administrator should make it clear that phrase is not correct. However, check the plan document!

On? ?

Agree with all comments from @Bill Presson. I wonder if the new actuary knows this client has significant arrear payments. ? Does your service agreement help answer your question?

There are 2 or 3 prior discussion threads that might be relevant to you (or they might be out of date) in this forum. Try the Search box, making sure to click "Search in this forum". I suggest a search term of "tribal", or something similar.

Do you have an attorney who is well-versed in QDROs?

The plan defines "compensation", right?

Perhaps just before, or just after, you are doing your arithmetic, please also check to see what the plan document says.

Data as of May 29, 2020 (Friday) third month-end after beginning of Coved-19 pandemic/isolation Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial CorporateAaa NA 2.41 2.41Aa 2.83 2.47 2.65A 3.11 3.03 3.07Baa 3.47 4.05 3.76Avg 3.14 2.99 3.07 Moody's Daily Treasury Yield AveragesShort-Term (3-5 yrs) 0.23Medium-Term (5-10 yrs) 0.46 Long-Term (10+ yrs) 1.25 Observation: (1) Comparing the Avg rates to 6 months prior, current rates are 150-160 points lower. (2) Comparing the Avg rates to 12 months prior, current rates are about 110-120 points lower.

What does your attorney say? (We don't really need to know what your attorney says. You need to know what your attorney says. If you need to get an attorney, or a different one, make sure that person is well-versed in QDROs.)