HarleyBabe

Isn’t offering Roth IRA as a plan option the same as depositing money in a Roth IRA for certain employees? This is why I’m confused.

B plan = 403 B QDROphile I believe that’s what they mean increasing comp and contributing to a Roth IRA Is there coordination needed with the 403b compliance wise? Just haven’t seen this done before

Need some guidance please. Had a client consult with an attorney who you know informed them of retirement plan options. I'm sure they were all knowledgeable. Yes I'm being sarcastic. At any rate, they have approached me with adding a Roth IRA as a plan option so they can offer more to long term employees. They have Roth in their B plan. It's not a Safe Harbor B plan just as an FYI. I know everything I can do with the B plan but I suspect they don't want everyone to benefit. It's also an ERISA B plan. Apparently they can put together an Employer sponsored Roth IRA and just contribute for who they choose, of course the contribution they make is taxable to the participant. But how does this coordinate with the ERISA B plan? Are there combined testing requirements since both Employer sponsored. Can they do this free and clear??? I've never in 30 years had a client do something like this so insight on whys and such or other options, pros and cons of this, would be great? Thank you.

Not quite sure if this is the correct place but the job posting section on this site didn't seem to cover my question. I'm looking for just some support staff contract employees for data entry and entry level tasks remotely but not full-time. Am I missing something in the job postings section where I could find them or is there another good resource for this for folks with some retirement plan very basic experience? Thank you.

Our actuary is searching but I thought I'd just put a note out here as well. We currently have a company that has an overfunded DB Plan that is terminated. He is looking to sell the business and with the overfunding and I'm wondering if anyone here has info on companies that purchase these. I know they are out there, not sure where to look. Thank you.

I have been reading the other threads and trying to apply my situation but I want to be certain so I apologize if this overlaps. I have a solo company, landscape company. It's an S Corp. Takeover plan, CPA has been allowing the owners to withhold after year end stating they have until 4/15 but then going back and adjusting their W-2's. From what I have researched, if it's S Corp, they have to take the withholding from their reasonable compensation by 12/31. Am I correct?

I can log in fine. Can run things. No report writer, no printing any report. Try that. Also importing has been messing up for 2 days. Let me know if you are able to print?

Does anyone know if the ASP system is down today? This is awful.

Hello - I am trying to get some clarification on terminating a 403(b) plan and starting a 401(k) plan. This is already an ERISA B plan. They are a almost at the point of being a large plan filer. We are trying to avoid that of course. I have read so many different replies on if the 12 month waiting period applies. What I would like to propose is terminating the B plan 12/31/2019 and starting a K plan 1/1. However, the 12 month wait is the question. Help! The plan is invested in on the record keeper direct platform of AM Funds just as a side note. Please, any concerns or issues that occur with this, I would love the insight.

Hi Everyone - so I'm in the process of updating agreements and such for my clients. Was wondering if anyone would be willing to share privately what they provide a new client as far as agreements, required fee disclosure. Trying not to recreate the wheel but want to make certain I'm sending something reasonable. I would not copy your template just want an idea of what other TPAs send. Thank you.

Thanks, yes I was reading 2013-74 and it didn't appear to remove the restriction, that's the reason for my confusion.

Am I reading correctly that you cannot amend a safe harbor mid year to change In Plan Roth Rollover provisions? We want to amend to allow for this to all amounts whether a distributable event or not. Our document currently states there must be a distributable event. Thank you.

yes the investment advisor is clueless in this case.

Can someone tell me how to easily explain to a client what a revenue sharing payment is and how it's generated and paid to the TPA. We receive basis points on assets but I need to explain exactly how that affects the participant accounts.

I too am a small TPA firm wishing to expand my business in the DC area. Would you be willing to discuss?

Question if a plan chooses to amend their safe harbor to have a 1 year wait, but leave the deferral portion with immediate entry, do we need to test those individuals in the ADP/ACP because they didn't receive a safe harbor for not meeting the service requirement yet? What other pitfalls are there for putting a one year wait on the safe harbor other than the top heavy concern which would negate the 1 year wait we are aware of.

I don't have the 403(b) Answer Book unfortunately.

Sorry if this is an overlap. I did search and there was just too many posts to go through so questions is: Have a Non-Erisa 403(b) Plan wishing to terminate. Funding vehicle says Custodial Accounts. What am I as TPA required to provide the plan sponsor other than the termination resolution for this process. Do I need to prepare a Notice for participants and if so, what information should it provide, and what should I convey to the client regarding this termination process? I was reading about a 12 month rule for distributions to be all out. I am just not versed on 403(b) termination and want to make sure I provide all the information correctly for the client and the participants. Thank you.

To further this question, I had to amend the 403(b) to allow for Inservice Distribs. When I did this, I had the Trustees sign. I'm being told the 403(b) doesn't have Trustees and that is incorrect. Thoughts? It is not an ERISA plan? Also, the plan sponsor who signed the 2009 document is not longer there. When I changed it with current folks I called them Trustees, would the opinion be I need to change this?

My feeling as well. I have been waiting for the 2 year window. I was not under the impression that 403(b) plans had to be amended with PPA and were separate.

Did 403(b) plans have to be amended for PPA? This is a Non-Erisa B Plan. Our last amendment was 2009. Thanks

Yep I saw this in WRERA, unfortunately they still don't get it. I just wanted to make sure I wasn't missing something. I have ERISA counsel addressing this with them now as to why withholding applies.

Yes I am the TPA and it is a DC plan and I totally disagree with him but he believes one of his employees who thinks she is a pension professional. I am just tired of arguing with him.

Can someone find me the cite for that please!!!

Well, clearly I am questioning my years of experience. I have a situation where the participant died and the children are the beneficiary, no spouse. The CPA instructed a distribution be made to cover some expenses with no withholding or they completed a W-4 to delay withholding until the personal returns are done. I believe they then deposited to a Trust for whatever reason. Not sure. They actually may have made the check to the Trust even. I haven't found that out yet. Regardless it's not an IRA of any kind. Can someone please provide me the mandatory taxation rules for distribution to a non-spouse beneficiary. I have read the code, seems to indicate that if it's a non-spouse it's not considered an eligible rollover distribution and therefore not subject to the mandatory 20%. However when I look at every single financial institution distribution instructions, our own that have been used and many other things, they state 20%. Help, and provide me a something to print for the correct answer meaning a code section. I must be missing something. Thanks.