david rigby

Just for clarity - Do both plans use a calendar plan year? - The reference to "transfer assets" is a bit troubling. Does that mean that the plans were merged on 10/01?

Earlier I stated that the corporate tax extension might not be sufficient to substitute for the form 5558. http://www.benefitslink.com/boards/index.p...ST&f=67&t=19849 However, I am unsure if that is still a true statement. Anyone know?

Every situation is different. The plan should probably have written administrative procedures outlining what actions to take, or not take. The goal is usually to treat all impacted participants alike, although you might have a de minimus exception. Usually it makes sense to seek reimbursement, but the plan sponsor will often face a decision when that does not produce anything. This revenue ruling deals shows how the IRS expects to deal with any repayment, at least from a tax perspective. http://benefitslink.com/IRS/revrul2002-84.shtml

Never look for trouble. If the PA has reason to believe there is (or may soon be) a QDRO, then caution is advised. See several previous discussion threads on the QDRO message board. http://www.benefitslink.com/boards/index.p...php?act=SF&f=89 But to look for a court order when none is suspected seems a bit “overboard”. The plan administrator is not usually under a burden to notify itself. As always, the PA should seek its own legal counsel.

Probably depends on what the plan says, and state/local statute(s).

Depends on whether you are an average candidate.

Many plan documents include a statement that automatically triggers plan termination upon the occurrence of certain events, such as dissolution, bankrupctcy, etc. If your document has similar language, that may help identify an appropriate date. If there is a legal advisor, get him/her involved in the question.

Might be some useful information here: http://www.dol.gov/ebsa/publications/401k_...k_employee.html

The plan definition of compensation should include bonuses.

Amen. This assumes the buy-sell agreement did not already address this, such as by specifying vesting, or a spinoff.

Excellent! Thanks for sharing.

Interesting. Just a guess: the R is part of the 5500, and the exemption that permits the sponsor to file the 5500EZ will also mean an exemption from any schedules not requried by the EZ.

Your orginal post indicates (I think) that the 3 years of service is vesting purposes. If so, and if the plan does not also state that it is used for participating (or benefit) service, then one should not assume it applies for any other purpose. However, it is also possible that the plan could have been amended later to change that. SPD might indicate some ambiguity in plan language, but the plan's provsions will control. Possible exception could be language in a collective bargaining agreement.

See DOL reg. http://www.dol.gov/dol/allcfr/ebsa/Title_2...0/Subpart_F.htm 2520.104b-10 addresses the SPD. Paragraph (a) refers to 2520.104b-1. I read the latter as requiring a copy by sent or provided to each affected participant. Note the reference to "actual receipt" in the first paragraph of (b) and to "the mail" in second paragraph of (b).

Tom is correct about the ACP test. However, it is not the only issue to consider. - For example, consider the process of communicatng this feature, both the first time and ongoing. - Will the addition of such feature cause confusion among employees as to which money is which? - What about withdrawals while employed? - Will the existing plan find less favor?

If this is a new plan, and NRA is defined as the later of 65 and 5th anniversary of participation, then there may be no vested benefit yet.

some of the topics here are a bit out of date. Anyone know if there are plans to update them? http://www.soa.org/library/stats/seb.htm

Any plan can define separately vesting service and participating service. A participant might have been vested at 10 years of service, but have a lesser number of years of participating service, the former used to determine whether the participant is entitled to a benefit, the latter used to determine the amount of the benefit. I'm unclear which you are asking about.

When I first read this, I assumed it should have been posted to the Humor message board.

I am finally faced with using the PBGC Missing Participant program (instead of just reading about it), found at PBGC Reg. 4050 is here: <a href='http://www.pbgc.gov/laws/lawsregs/code/CFR4050R.HTM'>http://www.pbgc.gov/laws/lawsregs/code/CFR4050R.HTM The interest rate required is referenced as found in Appendix B of Reg 4044. The introduction to that table reads: “This table sets forth, for each indicated calendar month, the interest rates (denoted by i1, i2, . . ., and referred to generally as it) assumed to be in effect between specified anniversaries of a valuation date that occurs within that calendar month; those anniversaries are specified in the columns adjacent to the rates. The last listed rate is assumed to be in effect after the last listed anniversary date.” The rates given (for June 2003) are 4.70% for t = 1 to 20, and 5.25% for t > 20. Can anyone help me decipher this? And do I read correctly, that Attachment B to Schedule MP does not ask for the benefit payable as an annuity, only the lump sum equivalent ?! I must be missing something. Thanks.

I believe the rule is that 404 assets should exclude non-deducted contributions.

1. Not sure if it is relevant for a 412(i) plan, but the usual reasons for choosing a BOY or EOY valuation are related to when information is needed or available, such as asset or compensation. 2. ?? 3. Contract terms, probably? 4. No.

Hold on. What do you mean by "it does not have to be the same key employee"? There has to be a common Key Employee, but it does not have to be all Key employees.

The SOA link is http://www.soa.org/library/stats/seb.htm Click on "Moodys Content Agreement".

Most J&S forms of payment are fixed at the point of commencement. Thus, if the spouse dies first, it usually has no effect on the benefit to the participant. But a review of the plan document should help determine if that is correct for your plan.