david rigby

Duplicate post in another Forum. Reponses are posted in: http://benefitslink.com/boards/index.php/topic/59483-acp-refund-correction-method/

Got link?

Data as of 08/31/2016 (Wednesday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 3.24 3.24 Aa 3.35 3.39 3.37 A 3.54 3.56 3.55 Baa 4.15 4.22 4.19 Avg 3.68 3.60 3.64 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 1.07 Medium-Term (5-10 yrs) 1.37 Long-Term (10+ yrs) 2.00

Ask prior TPA why they did it that way?

"It depends on what the court order said." Caution: from the plan's viewpoint, it depends on what the QDRO says, not the divorce decree and/or property settlement agreement.

Glad to help. Please send me your contact information to: davidp.rigby@yahoo.com

Got several, in NC, GA, SC, VA, DC. Do you have a geographic consideration?

Yes, this is the essential question. BTW, no one on these Message Boards can answer that for you; it is a question that should be directed to your company's HR department.

For those not familiar with Derrin: http://benefitslink.com/modperl/qa.cgi?db=qa_who_is_employer

It might be useful to: - identify the parties, - identify the attorney(s), if any, - identify any relevant dates (if not already in the DRO), - state whether the plan administrator has reviewed and approved a draft of the DRO.

Very unusual request. Is the requested information related to the TPA fee? any other fee? If not, ask the auditor for some documentation why the requested items are relevant. BTW, it's pretty common for benefit plan audits to have some of the "newest" employees of the audit firm, so consider the possibility that someone is just following a checklist, whether or not it has a bearing on the particular situation.

Isn't it well-known that a 403(b) plan cannot be merged into a 401(a) plan, or vice versa? Perhaps it is appropriate to use air-quotes: "consultant". Perhaps there are some fees available for cleaning up the other mergers referenced in the original post?

Documentation can be important, even for simple actions. This transaction certainly appears to be a rollover (or five). Maybe page 4 of the 1099R instructions, particularly the reference to "non-spouse designated beneficiary", is relevant to the original question? https://www.irs.gov/pub/irs-pdf/i1099r.pdf

Is this a qualified plan or NQ plan? Governmental? Non-profit?

Is this plan audited? If so, the auditor should have (might have?) opined on this in the past. Be careful to verify your statement, "...has elected not to be subject to ERISA...". I've seen this before, where someone assumed "not elected" but a (very) old election later turned up.

I don't know what this means. Just in case, remember that fraud is a bad thing.

My understanding is: - the estate cannot elect a direct rollover; therefore the 20% default withholding does not apply; - the "other default" withholding will apply:10%; however, the estate has the right to elect zero withholding (just like any other payee, using a W-4P). - use the estate's TIN, probably different from the decedent's SSN and also different from the executor's SSN.

Data as of 07/29/16 (Friday) Moody's Daily Long-term Corporate Bond Yield Averages Utilities Industrial Corporate Aaa NA 3.25 3.25 Aa 3.31 3.40 3.36 A 3.51 3.56 3.54 Baa 4.10 4.23 4.17 Avg 3.64 3.61 3.63 Moody's Daily Treasury Yield Averages Short-Term (3-5 yrs) 0.88 Medium-Term (5-10 yrs) 1.21 Long-Term (10+ yrs) 1.90

How do you (or someone) decide whether "may" applies?

The response might depend on your relationship to the participant. If you are a plan representative, or a record-keeper, or a trustee, it may be appropriate to offer no response, other than "see your tax advisor".

The questioner should bookmark this webpage: https://www.dol.gov/ebsa/5500main.html

1. I'm just supposing: wouldn't B have to create its own plan (separate from all others) as an interim step? 2. n/a

Just in case, the existence of a collective bargaining unit is not the only relevant condition. See IRC 410(b)(3)(A), and note especially the phrase beginning with "if": (3) Exclusion of certain employees For purposes of this subsection, there shall be excluded from consideration— (A) employees who are included in a unit of employees covered by an agreement which the Secretary of Labor finds to be a collective bargaining agreement between employee representatives and one or more employers, if there is evidence that retirement benefits were the subject of good faith bargaining between such employee representatives and such employer or employers,...

IMHO, that subsection 1(l) exists only because someone at the IRS was trying be generic, with no understanding of the practicalities. In 35+ years, I've never met an actuary or ERISA attorney who would recommend this "merger". But let's ask a different Q: Is the QRP finalized or still pending? Could the QRP be a DB plan?

Another factor the participant would use in this analysis is current health status and (perhaps) family history. If all the adults in your family died before age 65, then you might not be optimistic about having a long retirement, which means you will choose the lump sum. We call that "anti-selection". It's not random, and it's not "average". Thus, every person's analysis will be different.