Felicia

No, I'm just trying to determine who can roll over (convert) assets to a Roth IRA--regardless of whether it makes sense or not.

Can a spouse rollover pre-tax qualified plan assets to a ROTH IRA? Can a nonspouse rollover pre-tax qualified plan assets to a ROTH IRA beginning next year?

We have been approached by several governmental entitles looking to invest in our financial products. These entitles do not have a plan document. We are interested in offering a 457(b) prototype plan document to be used by governmental entitles. If you know of any service providers that offer such a governmental 457(b) product, please advise the name of the company and, if possible, the name and number of a contact. Thank you.

Since April 1 falls on a Sunday, is there an extension to April 2nd for those who wish to delay the first RMD?

A participant wants a 90-24 transfer of assets from one ROTH 403(b) institution to another. If the participant has a basis of $10,000 and a loss of $500, the receiving institution will only recieve $9,500. Does the receiving instituion record $10,000 in basis and a loss of $500 or only record the actual money received?

Has anyone heard when the IRS intends to finalize the 402A regulations? If so, what is the estimated time frame?

I have read excerpts from the PPA as well as many articles re the provisions of the Act. I have found references to several EGTRRA sunset provisions but none relating to the ESA contribution amounts. Has anyone found an extension of the EGTRRA contribution limit of $2,000? If so, please advise where it can be found. Thanks.

Is an unforseen emergency distribution from a governmental 457(b) an eligible rollover distribution?

Can a survivng spouse roll over the 401(k) assets to an inherited IRA? The reason for doing so would be to allow the surviving spouse to take distributions on account of death without incurring the 10% penalty. (If the survivng spouse rolled over the assets to his/her own IRA, the survivng spouse would have no exception to the 10% early withdrawal penalty)

If an employer indicates that the SEP does not include employees whose total compensation during the year is less than $450, does this requirement apply only to determining when the employee first becomes eligible or does it apply to all years that the employee makes less than $450? For example, if A makes $ 400 in the first year, $3,000 the second year and $350 in the third year, is the employer obligated to make a contribution for A in the third year?

Thought this is worth passing on to you. Section 4H of IRS Notice 2005-92 states that "Katrina distributions will not be treated as a change in substantially equal periodic payments."

If a former employee lives in an area affected by Hurricane Katrina can he take additional distributions from a 403(b) without the distributions being considered a modification to the SEPP? I haven't seen any guidance on this specific topic but I may just have missed it. Thanks for all your help.

If an employer makes employer contributions to a 457(b), does the amount of these contributions reduce the amount the employee is eligible to defer during the year?

Is the one-year delay in loan repayments for those affected by Hurricane Katrina/Rita/Wilma a mandatory requirement if an individual request it or is it optional and up to the financial institution holding the assets?

After the two year holding period can a SIMPLE IRA be rolled over/transferred to a SEP?

Employee participated in Employer's A 401(k) during early part of 2005. Employee terminated service with that employer and was subsequently employed by B. Employee participated in Employer B's 401(k). Employee has excess 402(g) deferrals. Assuming it would still be timely, from which plan should the excess be removed? What if employee rolled over his portion of Employer A's 401(k) to an IRA? Does this change the answer?

Thanks for your input. I subsequently found Rev. Rul 86-142 that states that commissions and sales charges are part of the contribution.

IRA contributions are limited to the lesser of a set dollar amount and 100% of compensation. Assuming the 100% of compensation is the lower amount, can an individual invest 100% of compensation into the IRA and pay any sales charges by check (from passive income)?

Thanks. Caught that too. Official guidance is in IRS Notice 2005-92.

KETRA provides relief from the 10% early withdrawal penalty for individuals who resided in an area designated as eligible for Individual Assistance. Queries: does the relief (from the 25% early withdrawal penalty) extend to distributions to individuals who participanted in a SIMPLE IRA for less than two years? Does it matter if the employer no longer exists? (In this case, the employer is no longer in business.) Thanks for your input.

KETRA provides relief to those, who among other things, had a principal abode in the Hurricane Katrina disaster area. Section 2 of the Act defines Hurricane Katrina disaster area as ... "(2) which is determined by the President before such date to warrant individual assistance or individual and public assistance, from the Federal Government under such Act." The phrase "individual assistance or individual and public assistance" appears elsewhere in the Act. The Appendix to IRS Notice 2005-73 lists the counties and parishes that are eligible for Public Assistance and those that are eligible for Individual Assistance. I can find no counties or parishes are eligible for both. It appears that "individual and public assistance" is meaningless. Am I missing something? If so, please advise where that clarification appears. If not, please advise your thoughts on this, e.g., do you think there will be technical corrections changing the phrase to "individual assistance or public assistance"?

I recently read that the conversion rules changed for 2005. According to the article, individuals are no longer required to include RMDs when determining Modified Adjusted Gross Income. Where would I find the official IRS guidance on this?

I believe that a governmental agency can make contributions to a 403(b) without subjecting the 403(b) to ERISA. I understand that some school districts are making contributions and that the contributions are usually 100% vested at the time made. Just wanted to get feedback as to whether anyone actually saw a vesting schedule for employer contributions. Thanks for all the replies.

Must loan repayments be paid back monthly? Can the amoritization schedule require that they be paid back quarterly?

Can a non-ERISA 403(b) have a vesting schedule for employer contributions?