tbp
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Everything posted by tbp
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Can an employer round top heavy contributions to the nearest dollar amount? An ERISA attorney is asking our client to deposit contributions of less than a dollar to participants because of rounding.
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The trust would own the unincorporated business and yes, the owner is carrying on the same business.
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If the owner of a corporation that sponsors a 401(k) un-incorporates and assigns the assets of the corporation to a trust administered by him, can he still maintain the 401(k)?
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Document doesn't really address that issue. I'm thinking it would be the same as the grace period for expenses past the end of the plan year for terminated participants - 120 days to submit.
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How long after a participant submits a change in status request to revoke their election do they have to submit claims?
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Deposit them where? Most dependent care plans are funded out of the general assets of the ER. That is, no separate fund. The ER's general assets are enhanced by not having to pay the EE by the measure of the salary reduction elected to pay for the elected day care benefits. When a claim for day care expenses is submitted, the ER pays it out of its general assets. You ought to look at the plan terms to see what is said about the timing intervals (if any are imposed) for submitting claims and what the time lines are for paying them. If there is a separate fund being used as contemplated by your OP, then there might be a problem. DoL Reg 2510.3-102(a)(1) provides DoL Reg 2510.3-102© provides They are depositing them into a checking account used for the reimbursements. However, until they actually deposit the deferrals into the checking account they will not pay out any reimbursements.
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In a dependent care plan if the employee has elected to participate and makes deferrals every pay, are they entitled to reimbursement from the plan even if the employer hasn't actually made the deposit of their deferrals? We have a plan where the employer sits on the deferrals for months and will not reimburse the employees for dependent care expenses they have incurred.