david rigby

Not enough information. For example, Is this a DB plan? Was the QDRO applied against your benefit, or for your benefit? Did the PA explain the nature of the incorrect calculation? (if not, have you asked?) Etc.

Please, it's OK to share what you found. And the source.

I did stay at a Holiday Inn Express last night.

Larry's assumption may be valid. However, it would be prudent to make sure you get adequate documentation of their error. First.

Aisle 7.

Miserable? Imagine the following situation: Participant takes the waiver form (in your first paragraph) to spouse, asking him/her to waive a portion in favor of Participant's children from prior marriage. Spouse objects. Now what? The point Larry advocates is to make this automatic, avoiding the "miserable" embarrassment between spouses.

Terminology can be important. Your use of the funds (rollover, pay off debt, buy a boat, etc.) is not relevant. What counts is why you got a payment. Every plan defines how and when someone can be paid. Most common are upon death, disability, retirement, or other severance of employment. Your narrative seems to omit all four of those. Did you receive a loan? a hardship distribution? something else? It's possible no "clawback" is needed, but better documentation of what/how your distribution was authorized.

Important: the plan will not pay you anything without a QDRO. Therefore, to determine whether you are entitled to anything, you may need an attorney who is well-versed in QDROs.

Data as of October 31, 2019 (Thursday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 2.99 2.99 Aa 3.16 2.99 3.08 A 3.33 3.30 3.32 Baa 3.67 4.06 3.87 Avg 3.39 3.34 3.37 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 1.50 Medium-Term (5-10 yrs) 1.59 Long-Term (10+ yrs) 2.09 Observation: Comparing the Avg rates to 12 months prior, current Bond rates are about 120 basis points lower. Comparing the Avg rates to 6 months prior, current Bond rates are about 75 basis points lower.

Maybe answering the questions above will also reveal "who screwed up". This would be relevant to determine who pays the attorney fees needed for guidance thru this mess.

No problem there. ? But seriously, what is the origin/backstory of this proposal?

Thread title fixed.

Just a warning about timing: the Form 5500 filing mentioned above will have a "delay". Example (assuming the plan year is calendar year): the filing for the 2018 plan year will be due no later than 10/15/2019. If the plan was created in 2019, the first filing is not yet due. If you are correct that the employer is lying about it, he may also be looking for ways to subvert the filing process (in which case, the above efast website might not be useful to you.)

If the buyer creates its own (new) plan, it can recognize service with the seller for purposes of vesting. And probably should.

Has this other professional provided a cite to such DOL guidance?

If it were me, the Code of Professional Conduct for the actuarial profession would be relevant. I would make sure I had all the facts and make sure nothing in my service agreement prohibited my "speaking up", and then speak up. None of us should tolerate theft.

The plan is the beneficiary of what?

Not weird at all. Although not experienced by every plan, this circumstance has occurred before, and every ERISA attorney or every TPA has considered it.

https://www.schwab.com/public/schwab/investing/accounts_products/accounts/small_business_retirement

If you want to reply to this question, please go to this duplicate post: https://benefitslink.com/boards/index.php?/topic/64925-taxation-of-lloyds-specialty-life-insurance/&tab=comments#comment-297286

Any other boxes checked? Especially Box e, "did service provider receive indirect compensation?" (BTW, line 2 is for vendors receiving more than $5K.)

What does this mean under the plan terms?

The due date is statutory. ERISA (remember?) states the annual report (ie, 5500) is due at the end of the seventh month after the plan-year-end. The IRS has statutory authority (somewhat general, I think) to extend certain deadlines up to 75 days.

It may be of interest to learn that this question was included in an early Gray Book (Q&A 94-28). Proof Required to Avoid Spousal Waiver of QJSA or QPSA -- 401(a)(11), 417 Reg. Section 1.401(a)-20 (Q&A-27) provides that spousal consent to waive a QJSA or QPSA is not required if the plan representative is satisfied that there is no spouse or that the spouse cannot be located. In establishing to its satisfaction that there is no spouse due to divorce or legal separation, is the participant required to provide legal proof of the divorce or legal separation? RESPONSE: The plan administrator may rely on a certification by the participant that he is divorced or legally separated. However, it would be a good idea to request legal proof in situations where the employer has knowledge that indicates or suggests that the participant is married.

Is this common? If so, you might want to consider amending the plan to a simpler method. Yes, such method might conflict with your need to "count pennies"; trade-offs.