30Rock

I realize that the Service Members Civil Relief Act (SCRA) states that if the loan is greater than 6% the service member can send a notice upon return from duty asking to lower the loan rate to 6%. We have a plan sponsor trying to put a spin on this to say can the rate be lower than 6%. SCRA says the loan rate cannot exceed 6%. My view is that this only helps if lets say the original loan is 9% interest and upon return from military leave he wants to reduce it to 6% this is ok. But lower than 6%??

I think you know oldman

We have a plan that has unallocated forfeiture money even though the plan was frozen as of 12/31/2007. I assume the amendment did not address forfeitures and neither did the recordkeeping system. At this point, should they be reallocated, and how? To all participants with an account on 12/31/2007 even if they have by now taken a distribution, or can we look at active accounts today?

Do unreimbursed medical expenses have to be unforeseeable in order to qualify for a hardship withdrawal under a 457b governmental plan?

I thought a top hat plan became an ineligible plan if the 457 limit was exceeded for a calendar year? Is there even an approved correction program for top hat plans?

Hi If the 402g limit is exceeded by 16 cents, what is the correction? Can the $75 de minimus rule under Section 6.02(5)(b) of Reve Proc 2008-50 EPCRS be applied since it will cost more in payment fees to distribute the excess than 16 cents? Should the participant include in his 1040 as taxable income, or is there a de minimus income tax rule too? thanks!

Hi I know this is an old link but I have a similar question. If the 402g limit is exceeded by 16 cents, what is the correction? Can the $75 de minimus rule be applied since it will cost more to distribute the 16 cents? Should the participant include in his 1040 as taxable income, or is there a de minimus income tax rule too? thanks!

I am not clear on how you satisfy universal availability? Assuming the For Profit has full time employees that cannot be excluded under the 20 hour a week/1000 hour per year rule, and do not meet the other exclusions, how do you satisfy UA if the For Profit does not have a 401k plan?

Is there a problem for contributing for 2009? If this is a calendar year plan, the 990 deadline is May 15, and the 415 deadline is not until October 15th.

What is the deadline for a Cycle E filer to adopt a pre approved plan if they are currently on an individually designed plan? If they sign an 8905 do they have until Jan 31, 2011 the cycle E deadline or do they have to adopt the plan by April 31, 2010? Thanks!!