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david rigby

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Everything posted by david rigby

  1. david rigby
    Well, since we are discussing limits... An infinite number of mathematicians walk into a bar. The first orders a beer, the next orders half a beer, the next orders a quarter of a beer, and so on. … After the seventh order, the bartender pours two beers and says, “You fellas ought to know your limits.”
  2. david rigby
    As I recall, the last upgrade went well. Dave's service to us is greatly appreciated.
  3. david rigby
    It's possible a smaller firm could service this type of plan. Expertise matters.
  4. david rigby
    "...put in for a distribution..." sounds like a claim for benefits. Does the plan have a claim procedure? Does the procedure describe how/when to respond?
  5. david rigby
    The second part of the cushion in 404(o)(3)(A) is (in simple terms) the difference between the UC liability and the PUC liability. Of course, IRC 415 must not be ignored. Your salary scale must be reasonable, but those on this message board don't have any information to assess the reasonableness of 3% for this plan/employer. Just my opinion.
  6. david rigby
    Q. How many people work at your company. A. About half.
  7. david rigby
    Has the plan actuary already contributed anything to your inquiry?
  8. david rigby
    Should the actuary be doing this calculation?
  9. david rigby
    If the owner "deposits $25K", doesn't the plan define how that is to be allocated among all the participants?
  10. david rigby
    Get thee to an ERISA attorney. Pronto.
  11. david rigby
    A phone call may be useful, but don't for get to request they send you the letter acknowledging it has been resolved. Never throw out that letter.
  12. david rigby
    http://benefitslink.com/boards/index.php/topic/56516-db-plan-termination-but-with-a-difficult-participant/
  13. david rigby
    ...which may have limited "incentive" if significant number of participants don't, or cannot, access that store.
  14. david rigby
    Any of the accounts below $1,000 (or whatever the mandatory cash-out limit in the plan)? Also possible some of these ex-EEs have forgotten about it? Perhaps a friendly reminder letter?
  15. david rigby
    Data as of 11/30/2016 (Wednesday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 4.01 4.01 Aa 4.06 4.07 4.07 A 4.22 4.26 4.24 Baa 4.77 4.86 4.82 Avg 4.35 4.30 4.33 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 1.66 Medium-Term (5-10 yrs) 2.17 Long-Term (10+ yrs) 2.84
  16. david rigby
    Consistency in administrative practices is a good practice. If the proposed change would benefit NHCEs, that might be a good argument in favor of a change.
  17. david rigby
    Please see private message sent to Plan4Retirement.
  18. david rigby
    You posted this in the message forum titled, "Retirement Plans in General". Let's be clear, is this related to a retirement plan of any type? (If you want this discussion moved to another forum, any of the Moderators can move it for you.)
  19. david rigby
    Hey Austin, maybe your scenario would be of interest to Derrin Watson for his Q&A column.
  20. david rigby
    "...5 years of participation..."? Is that the precise language in the document?
  21. david rigby
    While it might be good administrative policy to encourage actives to commence benefit payment at NRA, I think you cannot force the distribution for anyone whose benefit value exceeds $5,000.
  22. david rigby
    Just so we understand the orginal post, what exactly is meant by "...a 12,000 AB at age 55..."? Specifically, is it an early retirement benefit payable assuming actual DOR = 55? Benefit earned thru age 55, but payable at a later NRA? Something else?
  23. david rigby
    If the distribution form(s) (ie, the form already sent to participant) discloses the IRA, then you (probably) don't have to give participant any additional notice. But if the distrib. form does not mention the IRA default, additional communication might be advisable (even if not required). There might be value in doing so, because it may spur the participant to action.
  24. david rigby
    If the sponsor does not want to change to daily valuation, ask if they want to change to quarterly. If so, then make sure you can get whatever information you need on that basis. Not a perfect solution, but it avoids the pitfalls of a "special valuation".
  25. david rigby
    Can your amendment that awards 100% vesting refer to those who were participants on June 30?
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