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david rigby

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Everything posted by david rigby

  1. david rigby
    401(k) plans do not have a Schedule SB (assuming this isn't a "DB-k" plan).
  2. david rigby
    Well...... to be accurate, it matters if the plan document says so.
  3. david rigby
    Where are you located? I can offer names of several attorneys for consideration. Private message.
  4. david rigby
    Not accusing anyone of anything, just asking (because sometimes people mis-type). Is it a "multi-employer" plan or a "multiple-employer" plan?
  5. david rigby
    You may have another problem: If the facts show that he was "over-allocated" and overpaid, but does not re-pay, does that alter the viability of hiring and/or contracting with this person? And think about this from the viewpoint of the rank-and-file EE.
  6. david rigby
    Let's also point out: even if disability is "due to" an older illness/condition, that does not mean the disability itself will be deemed to date back that far. While there may be some debate about the timing, the determination will be (should be) medically based, according to plan procedures. As noted above by CuseFan, if the plan's provision about disability does not affect the plan definition of vesting, then any possible retroactive determination may have no effect on the resulting plan benefit, so you may wish to gather this information first.
  7. david rigby
    Normally, vesting % is determined at the separation of employment date (quit, fire, retire, disable, die, whatever). Have you reviewed the precise definition in the plan document? in the Summary Plan Description? Observation: becoming disabled at a later date is (usually) not relevant, unless the disability determination is retroactive to on or before the separation of employment.
  8. david rigby
    Data as of 12/29/17 (Friday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 3.45 3.45 Aa 3.57 3.54 3.56 A 3.76 3.74 3.75 Baa 4.10 4.24 4.17 Avg 3.81 3.74 3.78 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 1.92 Medium-Term (5-10 yrs) 2.26 Long-Term (10+ yrs) 2.62
  9. david rigby
    Can you accomplish your goal by "un-terminating" the plan, and then "re-terminating" in 2018?
  10. david rigby
    Seems like a pretty good response. Another phrasing might be, "What does the plan document say?"
  11. david rigby
    Yep, every actuary with a takeover relationship has had the same thoughts. Generally, we just remove (code D) as many (lump sums) as possible next filing. If the person has previously been reported as D, so what? (To be precise, we assume such reporting is "no harm, no foul".)
  12. david rigby
    Does "church plan" apply?
  13. david rigby
    If the company no longer exists, presumably there are no employees and no plan, so why did the original question ask about "future 5500's"? Perhaps it's prudent to narrow down the meaning of "gone bankrupt". Maybe it's not liquidation, but reorganization? Just askin'.
  14. david rigby
    Merely as a reference, it's likely most Separation Agreements include a phrase similar to: "Both parties acknowledge and agree that prior to and at the time of the division of properties as more particularly set out in this Separation Agreement, each has made a full disclosure ..."
  15. david rigby
    Yes, the J&S waiver would apply.
  16. david rigby
    Could the participant take a lump sum distribution directly to IRA, then have the IRA purchase whatever annuity is desired (possibly spending less than 100% of the IRA value)?
  17. david rigby
    I'm reading the original question as referring to a DC plan. Perhaps ErisaApple will clarify?
  18. david rigby
    Be careful when trying to attach logic to the legislative process.
  19. david rigby
    2. I wonder who is your client: one attorney? both sides? I agree that drafting a DRO contrary to the plain reading of supporting documents is not good practice. I foresee a scenario where you draft as instructed, the other party objects, and they tweak your draft, and refuse to pay you.
  20. david rigby
    Thanks, Dave! If we see a name of "ClevelandIndiansFan", we'll know who it is.
  21. david rigby
    Ask him to prove it.
  22. david rigby
    Data as of 11/30/17 (Thursday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 3.61 3.61 Aa 3.68 3.69 3.69 A 3.87 3.87 3.87 Baa 4.21 4.39 4.30 Avg 3.92 3.89 3.91 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 1.83 Medium-Term (5-10 yrs) 2.23 Long-Term (10+ yrs) 2.69
  23. david rigby
    Assuming the plan currently contains no provision allowing this rollover (as described by KevinC), the simplest way for the plan to handle this is the response "No".
  24. david rigby
    https://www.law.cornell.edu/uscode/text/26/152
  25. david rigby
    https://www.irs.gov/pub/foia/ig/spder/tege-04-1017-0033.pdf
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