Bill Presson

I'm just happy this thread was resurrected since I missed it the first time!

Mike, go back and read your posts and the response. You specifically said "as an aside..." and then discussed 1000 hour and year end requirements for PS contributions. That's what K2 quoted and responded to. When you said "huh", I clarified.

We've always used the pay date. The 7 day safe harbor says if you get it in by then, no harm. Since it wasn't deposited by then, I think the loss date is the date it would have been on their paycheck, but for the election. I think this is similar to the 5500 late filing penalty. You've got till 10/15, but if you don't file by then, the penalty starts at 7/31, not 10/15.

There is no predecessor employer. It's the same employer.

Mike, just because everyone is in their own group, it doesn't mean they aren't also using allocation requirements for the PS contribution. K2retire is just saying that the OP might not have gotten the PS because he wasn't employed at year end and that might be a plan design, not an employer decision.

Create and sign the plan currently, with the current sponsor name and EIN, but make the effective date 1/1/18. No reason to have a short year or name change or anything. It's the same company.

" Your LTD benefits are reduced by other sources of income that are payable to you because of your total disability." I don't think any of the QDRO money is being paid "because of your total disability", is it?

Ms @LAHartline, I just want you to know that you've been one of my favorite "civilian" posters ever. You've been reasoned, prepared and responsive. That's rare for someone on this board that isn't in our business. I hope it all works out well for you.

There still seems to be a whole lot of information missing here. If there's $1.2 million in the policy (and that's not the face amount which is completely irrelevant here), then you can't say the plan has less than $250k. And you can't mark a 5500ez as final if there are still assets in the plan. Are there still premiums due on the policy? How long will they have to be paid or is it a "paid up" policy?

I would think it would depend on the sponsor. If the sponsor is a sole proprietor, how does it continue (other than a "wrapping up period") if there's no business? If it's a corporation, I would imagine it continues as long as the business is in operation.

The OP just said after tax and not Roth, FWIW. Not sure it makes any difference.

They do collect tax on the fees from the business that is paid the fee.

I don't see this as a late deferral issue. But why is the record keeper only doing one trade a week?

Voila!

Larry, Click on your name next to your post. It will go to the window allowing you to edit your profile. Near the top right, you'll see a small version of your name and avatar with a down carat. Click the carat and then click Account Settings. The Signature option is on there. Might be an easier way to get there, but I haven't found it.

Gotcha. Didn't see that in your first post anywhere. Sorry, ESOPs aren't my thing.

All of this is generally irrelevant because we now have approved documents that allows for each participant to be in their own group.

I've tried to stay anonymous on a message board once. Just felt like I couldn't say what I needed to and keep it that way. So, from then on, I've always either used my real name or made it pretty easy to know. As to making a change, you can go to Edit Profile and change your Member Title to anything you wish. It could be your real name or like what I've done. You could also add it to your signature. Neither of those things require any board changes.

I would politely decline. Engaging a consulting firm to provide a service isn't the same as purchasing a product.

No, I don't work alone. We have 80 employees, including 6 enrolled actuaries and some of the most experienced people I've ever had the privilege to work with. But I still like getting others input on my questions and seeing different perspectives on questions we may have never run across. In addition, this (to me) is the updated reincarnation of the old PIX message board. I learned lessons there and made lifelong friends. It's nice to be able to continue that.

For the first year, it's true that they need to adopt the plan by the end of the year. But if they are so worried about the number, they likely aren't making enough to have a plan. As to amending the formula, that needs to be done early in the year before earning the right to the accrual and I wouldn't recommend that be done too often. It's just possible they aren't a good client.

Yet another example of why deferrals should never be done by check. These clients kill me.

D Lewis is correct. When you renewed in 2017, you had to show your CE for the period ending 12/31/16. Your next renewal period is the subsequent three calendar years.

Oh, please don't. Not sure I would want to defend intentionally doing it. But I like keeping it in my back pocket in case I ever need it.

I fully agree that this is the intent of the rules. But I've heard some people much smarter than me say it actually allows the former.