Bill Presson

Long thread on this a few months ago:

Have the recordkeeper transfer the money to the QDIA and correct the earnings.

Agreed.

I'm not. But Carol Cochran with ABG Southwest is very familiar. Here's their website: http://www.abgsw.com/ Not sure if she would help, but she's a pretty nice person. Might be worth reaching out. You can see on their website that Tribal Services is one of their specialties. Tell her I said hello.

As long as you're not late in filing the 1099s electronically, it's not really your problem.

There are no regulations that prohibit starting a new 401(k) and merging the two plans. But what are you trying to accomplish with a "solo 401(k)"? Because I think a 401(k) that only has a single employee (assuming the owner) pretty much is a solo 401(k).

John, the confusion is coming from about 95% of people writing that they've discovered a miracle. Search "backdoor roth 401(k)" for a sampling.

Agree 100% with the previous posts.

Agree with kcbirm. I would be curious if anyone can even come up with a scenario where a tax exempt trust/plan would pay a participant's taxes. Edited to add: if the policy is being liquidated and the value distributed, then there isn't a >distribution of insurance". It's just a distribution.

Thanks for the contributions!!

Austin, well they CAN do it differently, because they're deducting it correctly on our payroll. They do the payroll, but not our plan. We have a 125 plan as well. I just looked at my most recent pay stub.

Yes. And I think it begs the question as to why the sponsor wants to do this. On the face, it makes no sense.

We've recommended that to our clients for a number of years and never had any issues on IRS audit or DOL investigation. Your mileage may vary.

Agreed.

I would prefer the default to be "no emails" and I could turn it on if I wanted. I really don't need an email for every single post in every single thread.

I think it's strictly a payroll error. I'm pretty surprised the employee didn't notice it. The payroll company should advise on the best way to correct.

That's what I needed!!! Thanks!

I'm guessing you've saved the options. But they aren't on the main menu. They are in the custom streams location that I describe above.

Up at the top of the page is Browse/Activity/Leaderboard. If you hover over Activity, one of the options is My Activity Stream. There are defaults and then views that you can create. As I've played with the options, and saved them, they are added to the custom streams section. Now I have the one I want and need to delete the custom streams that haven't worked out.

Perfect (or very close to it). I've saved "Unread Content Threads" as an activity stream. So it's not the default Unread Content at the top of the page, but I can get to it quickly. Now I need to figure out how to delete the other "Unread Content" items that are saved in the activity stream options since I was playing with it.

I find this a little disingenuous as an answer. The may not actually have account statements, but employer's are required to keep annual reports at least 7 years (and likely longer). Those annual reports will have all your transaction information summarized.

...for unread content just see the threads with unread content and not every single post.

We are a TPA/Actuarial firm and use Paychex for payroll (not our plan). We started using them for HR stuff a few months ago. It became painfully obvious very quickly that they didn't know what they were doing in that area and we've terminated that service. So be careful about the HR stuff as well.

I agree with Tom. However, in my mind, part of this depends on the amounts we're looking at. If it's a roughly equal $190 per person error AND it would take a significant amount of time to calculate the actual earnings. I wouldn't sweat it too much.

You had a signed document in 1993 and didn't have another until 2010? I'm wondering if there were a couple of missed restatement cycles in there.