PJ2009

Thanks, everybody...very helpful. I did some digging and found that the transit pass benefit , which has been limited to $120/month, was recently increased under the Simulus Bill to $230/month, matching the $230/month limit applicable to the monthly parking benefit. As it turns out, the plan decided to stick with the parking benefit. As one of the posters mentioned, administrative headaches!

Does the cost of a bus pass to get to work qualify under the qualified transportation expense program? I would think so, but want a second opinion.

Thank you, John. Those were my thoughts as well.

Can costs associated with the refinancing of a primary residence be taken as a hardship under a 401(k) plan if the participant is otherwise eligible for a hardship and the refinancing is not needed to prevent a foreclosure? I don't believe so, but was wondering if any recent guidance had come out to help participants even if they are not in financial distress.

Is anybody aware of a rule that would limit the ability of a volume submitter sponsor to maintain BOTH a DB and DC plan on a VS platform and rely on both advisory opinions (and, of course, not have to file either plan for an individual determination letter)? In other words, there is no rule that says that a plan sponsor can only maintain EITHER a DB OR a DC plan on a VS, is there? I can't find this issue addressed in the 2009 Rev. Procs.

Does anybody have a model 415 amendment and/or a good concise summary of the final 415 regulations OR know where I can find such things. Thanks!!!