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david rigby

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Everything posted by david rigby

  1. david rigby
    https://www.law.cornell.edu/uscode/text/26/401 Click on "Notes" for historical information.
  2. david rigby
    Ask the "others" for documentation, or sources.
  3. david rigby
    The school division may have other problems. Likely, Lincoln is asking for information that will be used in marketing. The school division may (already) have a policy about providing personal information to outside vendors, and may be advised to have legal counsel review the request before responding. Especially concerning is the request for SSNs.
  4. david rigby
    Exactly! Perhaps this is the tip of the iceberg?
  5. david rigby
    Although no one replied to your question, do you have anything to share about what happened w/r/t this Reportable Event?
  6. david rigby
    One possible route: prove (in writing) that the ER made the mistake. If the Payroll Manager won't acknowledge it, then take it up the line.
  7. david rigby
    mbozek is correct. All you have now is an alleged "period of non-compliance". No one can begin to fix the problem (if there is one) until the problem (and its duration) is identified. If you are a participant and have no plan administrative responsibility, perhaps you might direct those responsible to this discussion thread so he/she/they can take action. If the Plan needs referrals to attorneys in your area, I (and several other contributors here) can provide a few names.
  8. david rigby
    The auditor's opinion might be important, but qualification status is not determined by the auditor. I agree with mbozek's comment to check out the VCP program. But get thee to an experienced ERISA attorney first.
  9. david rigby
    Perhaps it is clear elsewhere, but this does not make sense. A plan cannot both terminate and merge.
  10. david rigby
    My bookshelf contains "Pension Planning" and "Fundamentals of Private Pensions". Both are important. I have no idea what the most recent editions are. However, understanding today's environment will necessarily include at least some historical view, so don't avoid the history of any text.
  11. david rigby
    A simple beginning is to use the Search feature on these Boards. Use the word rental.
  12. david rigby
    Well, Hattie Greenan, even though you are a trade group, this sounds like marketing. If not, please enlighten the readers.
  13. david rigby
    A partial termination is (generally) a facts and circumstances test. - First, the IRS presumes all terminations during the appropriate time frame are subject to the deemed vesting requirement. - Second, the plan sponsor has the ability to document other facts that might exclude some of those terminations. For example, an employee who died (but this might trigger 100% vesting anyway). Your "event" need not be retroactive to the beginning of the year (and could even extend into a subsequent PY).
  14. david rigby
    Is there a question?
  15. david rigby
    Q&A 10?
  16. david rigby
    You might have some pushback over 21 vs. 18. Married? Was the plan drafted by an experienced attorney?
  17. david rigby
    IMHO, the context is meaningful only if referring to the child at the time of participant's death?
  18. david rigby
    Let's assume the reference to $5,000 is for the entire plan, or is there a typo? If $5,000 is correct, then context is needed: does the plan have 10 participants? 100? 1,000? As stated above, the fiduciaries are responsible for determining if all fees are reasonable, including both the $5,000 and the 50 basis points.
  19. david rigby
    Not enough information. Many issues to explore in a merger or an asset purchase. Should include who is affected, who isn't. Whether the "new" employees must meet any conditions. Vesting. Any unions involved? Coordinate with any other benefit programs (this one is often overlooked). The list goes on. An experienced retirement consultant might be important. You might need an ERISA attorney.
  20. david rigby
    Here is a lively discussion from July 2014: http://benefitslink.com/boards/index.php/topic/55910-benefit-accrual-different-methods/
  21. david rigby
    Perhaps the IRA owner, and anyone else observing this situation, will think twice about the questionable control procedures here.
  22. david rigby
    To the best of my knowledge, this is the only reg under 412(i), issued in 1980: http://www.gpo.gov/fdsys/pkg/CFR-2015-title26-vol7/pdf/CFR-2015-title26-vol7-sec1-412i-1.pdf Note: 412i was given a new designation in PPA, as 412(e)(3), effective in 2008, although the phrase "412i" persists.
  23. david rigby
    Anything wrong with using "the pay period beginning after hire date"?
  24. david rigby
    Is this account payable in cash? If so, why not just take it himself and make sure whatever portion he pays to ex-wife is categorized as alimony? That transfers the taxation (OK, the income tax but not the FICA tax) to her. It also helps him keep it if he outlives her. (ie, don't try to overcomplicate it) But hey, I'm no expert on divorce matters.
  25. david rigby
    It's possible this is why he wants an in-service distribution.
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