Bill Presson

I think we've all stated that they have to sign the deferral election by 12/31 of the year in which they are deferring because that's the date the income is deemed to be "earned." I don't think this changes that.

You might want to talk to someone else. You would be shocked how many divorce lawyers don't know what they are doing when it comes to QDROs and ERISA law.

Chip, I think Larry covered most of the concerns, but the doctor not being a statutory employee was the main one that I had.

See here: https://benefitslink.com/cgi-bin/qa.cgi?n=49&db=qa_who_is_employer

Once the money goes in the SEP accounts, they belong to the participant and what they do with the money has nothing to do with whether they are eligible to get a contribution this year. Just apply the eligibility requirements and make the contributions.

Thanks and Congratulations!!

I used Relius for almost 20 years and don't recall this being an option. If it was, I likely wouldn't have used it anyway.

Strictly speaking, yes. Whether the client follows your recommendation or not is another thing.

If you use this page: 5500 Form Selector it will tell you.

I'm guessing it is a plan with an individual brokerage account for each participant.

Agree with Lou. Then the employer needs to find a new investment advisor/recordkeeper.

Contact the benefits people at his work. They can tell you the status and what is required.

It happens. (hope I spelled that correctly)

I endorse getting this. It is invaluable in the literal meaning of that word. WCP

Agree with Larry. I've tried to get all clients to do this with general success. Also, I handle the 401(k) plan for our own firm. I get the download the Friday before payroll of any changes requested. I send that info to our payroll clerk and she makes the changes. It takes, maybe, five minutes.

This was almost an identical set of assumptions that Norm Levinrad presented in one of his sessions at ASPPA. He described it as "indefensible shenanigans" if I remember correctly. WCP

You beat me to this. Thanks for this summary.

It was an enjoyable conference. Glad I got to meet several of the BenefitsLink members while there. WCP

Agree with your comments on Paul. I was at Warren Averett from 2003-2015. Great firm to work with. WCP

50% ownership doesn't constitute a parent subsidiary controlled group.

There is a session on generally detecting and preventing fraud and a session on cybersecurity. The cybersecurity session is presented by Paul Perry, a friend of mine and the guy that worked with John Hancock to write their updated policies.

If the ownership of the "parent" is 50%, then I'm pretty sure it is no longer actually a "parent" because it doesn't control the voting stock of Sub 1.

I thought that info was in the instructions I posted, but I went back and edited it to add. Thanks. WCP

Also, if you are going, be sure to download the conference app: Conference Mobile App Instructions: Step 1: Search App Store for “ARA Conferences App” Step 2: Once downloaded, search “Annual” (case sensitive) to add the event to your schedule Step 3: Login with your username (the email address you registered with) and password ASPPA19 Step 4: Click on the event to access the schedule, speakers, outlines and more!

If you click the search option in the upper right, there will be a drop down menu. Click under "Search In" on "More Options" and another drop down menu will appear. Click members. If you type the user name, the profile will then appear.