tuni88

Would appear to be a soft landing then. The opposite of what happened several years ago when we went from having to make not insignificant annual contributions to making none ever since.

So calendar year plans, assuming conditions do not change radically between now then, are not likely to see a significant funding bump upwards going into 2021?

When will each of the recent pension relief rules we've been living under (MAP21, HATFA, etc.) expire? Will it be a big deal?

Other than the actual rates of mortality, is there anything different about 2018 compared to 2017?

How is it that purchasing annuities is not deemed an accounting settlement?

An employee is turning age 65 this summer and considering retirement. Our plan is frozen. He says he'll choose a lump sum as his payment option. Now he sees something in the newspapers that his lump sum may be higher if he continues working into early 2018 and has asked me how much higher his lump sum will be. As a rough percentage what is the increase likely to be? The plan's actuary has told me what the 2017 lump sum will be but says he isn't ready to do 2018 calculations yet. If I wanted to read something in layman's language on this topic please direct me there.

Not sure this is the right board to post this question, but would appreciate it if someone could provide the names of 4 or 5 insurance companies who might be interested in selling us annuities for our current DB plan retirees. Is it safe to assume that the giant insurance companies would not be interested in what is probably a $2 to $3 million deal?

Regarding the AFN, under what conditions is a supplement NOT required? Does our well-funded little 25-participant frozen DB plan need one?

When does vesting service stop in this situation? (I don't see anything in the plan document that addresses it.) Our frozen plan's early retirement eligibility requirement is age 55 with 15 years of vesting service. We have a 47-year-old employee who had 6 years of vesting service when the plan was frozen 3 years ago so his years of vesting service now totals 9. If we never terminate the plan and he remains employed he'll have more than 15 years of vesting service when he's 55 and can retire early. Let's say we terminate the plan at the end of this year, at which time his vesting service will be 10. Question is: Assuming continued employment past the plan termination date, does this participant continue to earn vesting service or does it stop at plan termination so that he never becomes eligible for early retirement and must wait until age 65 to draw a pension?

I was a Boy Scout. Be preparanoid they always told us. This waiver - when do you ask for it? In advance or after the penalty notice arrives?

IWIICBIC - old dog. (Unless there's a job just sitting on things I suppose.) So if one schedule on the Form 5500 is late is the filing considered late?

Maybe this goes on the Form 5500 forum, but I've posted it here nonetheless: We electronically filed our 2013 Form 5500 on time without an extension being applied for. The due date was 7/31. Unfortunately, I sat on the manually-filed Form 8955-SSA and here I am almost a week late. Or am I? What's the proper way to handle? 1. Send it in as is and hope for the best? 2. Check the "Form 5558" box and hope they don't care? 3. Check the "Automatic extension" box and hope it applies to us? (Given that there is a "Special extension" box, what ever is an automatic extension anyhow?) 4. Other?

We have a small DB plan with a calendar plan year. What is the latest date the Annual Funding Notice can be distributed?

A date edit is need on the entry of 2/6/13 for the rates at "31 Jan 12." Should be 31 Jan 13.

I got a memo from our actuary about the new rates to use for 2013. They are way up from last year (5.54%/6.85%/7.52% vs. 1.98%/5.07%/6.19%). Wow, do we get to use those for lump sum determinations?

Dis-approach the plan sponsor.

An unscientific sampling of the interest rate used for pension accounting as of 12/31/11 shows this for various companies: AT+T 5.30% Wells Fargo 5.25% J&J 5.22% 3M 4.15% GE 4.09% Chevron 3.80% Are these companies living in parallel but different worlds on opposite sides of the sun? Or what?

... the 403(b) is generally a better choice than the 401(k), because the two must be combined ... Could someone please explain what this means. Does it mean I can't contribute $22,500 to my 401k and $1 to my 403b?

For our DB plan, how long can I wait until I must provide a vested terminated employee with a letter informing him of his vested pension amount (and all the other stuff)? I've been doing it pretty much immediately up to now but I suspect I don't have to be that nice.

I've been in the habit of sending a letter to vested terminated employees, very soon after they leave, informing them of their vested pension amount, etc etc. So I'm certain I haven't been late on any of them. Question is: How is late defined? Can I 'batch' these and do them all once per year and not be late? What are, or where can I find, the rules? Thanks

With 7/31 being a Sunday, do I get until Monday 8/1 to file?

My nephew just turned 18 and is headed to the university this fall as a freshman. As part of his financial aid package he'll work part-time on campus and be issued a W-2 at year-end. Maximum earnings are $3000. Is he old enough to start a Roth IRA all on his own? Could he contribute all $3000 of his earnings?

Did you read the posts and/or the FAB? As stated above, the AFN for the 2008 PY was sent in 2009; the AFN for the 2009 PY was sent in 2010. Etc. Yeah both, but I'm old and slow. Just struggling a bit with the nomenclature. "AFN for the 2008 plan year" and "2009 AFN" are not synonyms then? In the Army we would have just painted it green and been done.

So no relation at all to the filing of the 5500. We just filed the 2009 5500 and I think we sent an Annual Funding Notice earlier this spring. So that one covered what year(s)? Don't they report 3 years? I'll have to look in the morning. The notice we sent in the spring showed info for 2008, 2007, and 2006. Was that the 2008 or 2009 notice? And what was the due date?

So no relation at all to the filing of the 5500. We just filed the 2009 5500 and I think we sent an Annual Funding Notice earlier this spring. So that one covered what year(s)? Don't they report 3 years? I'll have to look in the morning.