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david rigby

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Everything posted by david rigby

  1. david rigby
    Can you accomplish your goal by "un-terminating" the plan, and then "re-terminating" in 2018?
  2. david rigby
    Seems like a pretty good response. Another phrasing might be, "What does the plan document say?"
  3. 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".)
  4. david rigby
    Does "church plan" apply?
  5. 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'.
  6. 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 ..."
  7. david rigby
    Yes, the J&S waiver would apply.
  8. 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)?
  9. david rigby
    I'm reading the original question as referring to a DC plan. Perhaps ErisaApple will clarify?
  10. david rigby
    Be careful when trying to attach logic to the legislative process.
  11. 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.
  12. david rigby
    Thanks, Dave! If we see a name of "ClevelandIndiansFan", we'll know who it is.
  13. david rigby
    Ask him to prove it.
  14. 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
  15. 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".
  16. david rigby
    https://www.law.cornell.edu/uscode/text/26/152
  17. david rigby
    https://www.irs.gov/pub/foia/ig/spder/tege-04-1017-0033.pdf
  18. david rigby
    1. IMHO, no. 2. What Bird said.
  19. david rigby
    You need a domestic relations/divorce attorney, but make sure you get one with intimate knowledge of QDROs. Better yet, get one with experience dealing with the federal pension system(s).
  20. david rigby
    Are you sure about this? I agree they are not subject to the IRC requirement, but it was my understanding that they have adopted the QDRO procedures, although they use the term "court order" rather than "QDRO". (I might be misinformed, just asking.)
  21. david rigby
    It appears Tom has some free time.
  22. david rigby
    I'm with Mike. It appears that A is now a wholly-owned subsidiary of B. Not the same as "no longer exists".
  23. david rigby
    The SOA recently created this website. https://afc.soa.org/ (Sorry, I haven't used it yet.)
  24. david rigby
    Echoing Tom, you might approach this as an "opportunity to clear up a confusion". If the ER has been operating the plan incorrectly, your role is helping educate them.
  25. david rigby
    Carol, although your second sentence rules out a qualified plan, have you considered a DB/DC offset arrangement, thus covering most of the benefit for the rank-and-file in the DC plan? This might allow a fairly large deduction for the HCEs/doctors.
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