Dinosaur

It could be that on the Plan Info Sheet you need to put "2010" for year (next to the business code).

We are preparing the applications to file with the IRS and PBGC for a plan termination. There are 98 participants in the plan (some active, terminated vested and retirees). The company is going to purchase annuity contracts for all the participants. The plan does not pay out lump sum benefits (unless under $5,000). On the Notice of Plan Benefits instructions I don't see what is included in this situation for the active and terminated participants when the company will purchase annuity contracts. In other situations where there will be a lump sum, you show actuarial equivalence and the 417(e) rates, etc. I think I would include the basic data (name, birth date, hire date, term date, NRD, salary history, monthly accrued benefit in the normal form of payment). Then I would include a statement that ..."the Plan Administrator intends to purchase an annuity contract which will provide all plan benefits in accordance with the terms of the plan." They will receive a Supplemental Notice of Annuity Information that will include the possible insurers. Sound OK?

This is what I found: Filing_Stopped status indicates EFAST2 could read the annual return/report but could not fully check the filing for errors because crucial information was not provided by the filer. The annual return/report must be corrected and resubmitted in its entirety as an amended filing.

We are preparing a June 30, 2010 FASB valuation (we are the actuarial firm). We used a 6% discount rate for the 6/30/2009 FASB valuation. This seems quite high now looking at the FAS 87 moody rates published on this board. We need to discuss the discount rate with the client and the auditor but it seems that a rate around 5.5% is reasonable. Any thoughts?

Preparing 2009 Schedule SB for 12/31/2009 val. Line 15 (AFTAP) of the Schedule SB says that if the valuation date is other than the first day of the year then you must report the final certified AFTAP based on 2009 valuation results (and reflecting 2009 contributions). So when we prepared the 12/31/2009 valuation the certified AFTAP did not reflect any 2009 contributions. Since the Schedule SB must reflect 2009 contributions then another AFTAP must be certified and entered on line 15? So if the AFTAP is including contributions then it would make sense that the Target Normal Cost would have to be added to the Funding Target to be consistent? Correct?

I had that come up a couple of times yesterday. We just tried republishing the filing again, the client signed and transmitted and it is now "Filing received"

Usually the language we use on the attachment to the Form 6088 is that the participant will receive his/her benefit "to the extend funded". We haven't had a problem with this language.

Unless you are using the option for having the client sign a paper form and submitting it as a pdf, there is no need for you to have any credentials at all if you are using web client. We are having the client sign a paper copy and submitting it as a pdf file.

Using Relius Gov't Forms and Web Client for the filings. We are third party administrator firm with an actuary and our firm has signed up as transmitter and filing signer for the filings. On the bottom of the Relius Gov't Forms Plan Info Worksheet you enter information for when the plan gets published to Web Client. I have been using our e-mail address and our bosses name (with actuary in the drop down menu). I guess I should be leaving this blank since we don't need an email to tell us that it was published. Correct? Also, while in Web client and signing as service provider (Web Client is showing "as preparer"), it has something about the Administrator popping up as I'm entering the user ID and PIN. Any one else having this problem? I continued to enter our credentials submitted the filing.

The instructions specifically say to use the 2007 Schedule B and include as an other attachment.

I am preparing a late Form 5500 filing (2007) and using Relius Web Client. This is a Defined Benefit Plan. I understand that I use a 2009 Form 5500, 2009 Schedule I. Also we prepared a 2007 Schedule B and Schedule R (both schedules as an other attachment using a .pdf file). When we tried to file (can sign as service provider), it came up with the following errors: "ERROR Fail when Filing Header, Form Year does not match Filing Header, Plan Year Begin, unless the Filing Header Prior Year Indicator is set to 1." This error I do not understand. Any thoughts? "ERROR Fail when Schedule SB is not attached and Form 5500, Line 8a (Pension benefit code) contains 1x (defined benefit), and either Part II of Form 5500, Line 9a(2) is not checked, or Line 9a(2) is checked and at least one of Lines 9a(1), 9a(3), 9a(4), are also checked, and Schedule H/I, Line 5a is not yes and Form 5500, Part I, Line A, single-employer plan or multiple-employer plan is checked." I did not check the box at the bottom of the 2009 Form 5500 that a Schedule SB was attached since it's a 2007 Schedule B and its filed as an other attachment to the filing. Line 8a has 1A and 1G, Line 9(a)3 is checked, Schedule I, line 5a is No and Part I, Line A (single employer) is checked. Any thoughts? I have an incident at Relius but thought I would ask the board. Another note: these errors did not come up when I originally tried to file. I filed and then it had a submission failed. I tried again and then it came up with the errors when I tried to e-file again. When do these validation errors first come up?

I published it under SP4. If I retrieve and republish then I have to get the client to sign again, correct?

What service pack are you up to??? I was getting the same error until we loaded service pack 3 and now it seems to be working. (We have since loaded SP 4). It has been a nightmare, but I am getting closer to it being only chaotic. James We are using Service pak 4

We finally submitted our first Form 5500 filing with Relius Web client. It came back with a "submission failed". Under status history it showed the following: "The list of errors/warnings below were accepted at time of signing: No validations were reported." I have an incident with Relius but it takes a while to get a response on the incidents due to the amount of calls they are getting. It said I need to contact technical support when I researched that particular issue. Any ideas??

I tried what you suggested and it worked perfectly. Thanks so much.

Today, I just loaded the Relius update with the Form 5500-EZ and it prints will all strange characters (looks like another language). Anyone having this problem? I sent an incident to Relius this afternoon.

I tried that but it's still treating my 0 as a blank and looking for a value

Have an end of year valuation for 2008 (as of 12/31/2008) and switched to beginning of year in 2009 (as of 1/1/2009). The amount of the excess contribution for the 2009 Schedule SB line 11a is carried forward from line 38 of 2008 Schedule SB. Line 11b wants the effective interest rate for 2008 to add interest to this excess contribution. I believe that they would be no interest added to this amount since the carryover from 2008 is as of 12/31/2008 and the values for the 2009 Schedule SB is as of 1/1/2009. I am using Relius and if I put 0% it gives me a warning that if cannot be blank if 11a has a value. If you put the effective interest rate in 11b it adds a year of interest. Am I missing something?

Using Relius Government Forms to do a Schedule SB. Does anyone know of a problem with filing with EFAST2 for the following warnings from the Relius validation check; if 20a is yes (funding shortfall) it is looking for a response to 20c(1), 20c(2), 20c(3) and 20c(4) even though less than 100 participants. I believe this should be left blank; Line 34 is coming up with a message that it is not adding up correctly. The math is correct but it still comes up with a warning; Line 22 (Weighted average retirement age). It looks like it is looking for an attachment if there is any value on line 22. If the retirement age is 65 and and everyone has a retirement age of 65 do you need to do an attachment?

I thought the e-signing process wouldn't be done until you are on the DOL website and already imported the .xml file from Relius (again assuming not using Web Client). I would think you would create the EFAST filing with attachments then go to the DOL website, upload then sign on the authority of the client.

What is that?

I would think that the update wouldn't matter if you are only using Relius to do the forms and then importing the forms, attachments at the DOL website.

We are a TPA that obtained signing credentials to sign on behalf of our clients. We use Relius government forms to prepare the forms. We will follow the instructions with respect to the new procedure (authorization from client, .pdf file of first 2 pages of 5500, etc). With this new rule can we just import the .xml files (schedules, etc) generated by Relius government forms and import once logged in as the TPA at the DOL website or does Relius have to do a fix first? There was a note at the Relius website that "SunGuard will be incorporating the option into its software for later release". Since we are not using Relius Web Client I wouldn't think we have to wait for a fix. Any thoughts?

We administer a DB plan that is PBGC covered. There are 98 participants in the plan. The plan sponsor plans to purchase annuity contracts for all the participants since lump sums are not paid (and they do not want to amend to allow for this option). There are some participants in pay status and some active and terminated participants with deferred benefits. Benefits are frozen as of 12/31/2004. We plan to choose August 15, 2010 (or 8/31/2010) as the plan termination date (due to the 60 day notice). Can the plan sponsor purchase the annuity contracts before the plan termination date? If so how can we file the Form 500, etc. with 0 participants as of the plan termination date? Any thoughts?

I am finalizing a December 31, 2009 end of year valuation. A 2009 AFTAP was issued by 9/30/2009 based on 2008 valuation numbers (since an end of year valuation). The client still has not made the 2009 contribution yet. When I send out this 12/31/2009 valuation can we do a revised AFTAP Certification based on the assumption that the minimum contribution will be deposited on 9/15/2010? (we would specify the amount of the contribution in the AFTAP Certification). This AFTAP would include the Funding Target at end of year (includes Target Normal Cost), the COB and PFB would be increased by the effective interest rate to the end of the year and the assets would include the discounted expected contribution. It would be revised again if the contribution is deposited on a different date. Or would the 2009 AFTAP include the Funding Target (ignoring the accrual (Target Normal Cost) for the year) and actual assets as of 12/31/2009 (no contributions made so far for 2009) and the COB and PFB with interest (effective rate) to end of year. This is the way that it comes out of our valuation system However, I read that the Schedule SB (line 15) must be the AFTAP certified for the plan year. I assume this would include the 2009 contribution. So if the last AFTAP last certified does not include the 2009 contribution then it is issued again once the 2009 contribution is deposited to match up with the Schedule SB?