TPApril

Wrap plan document incorporates all benefits offered by employer which are subject to ERISA. It never references any benefit type or provider, all of which are mentioned in the SPD. If Employer makes a change in benefits, when is it subject to a plan amendment & SMM if there is no actual change to be made to the Wrap Plan Document? Sample situations are: Change in carrier Removal of benefit Change of benefit from ER sponsored to voluntary Change in portion paid for by ER The SPD will need to be updated for any of these.

Assuming as per your quote, a 2013 terminee was not reported in 2013 and it appears no 8955-ssa was filed for 2014 at all, would you file a late 2014 form, or just file them on a 2015 form and move on?

Professional partnership firm with money purchase pension plan. One of the partners no longer has ownership in the firm, but is now a nonequity partner with his own MP plan that is tested together on a control group basis with the main plan. Are there compliance issues for the main plan if the one separate nonequity partner either does not deposit his contribution or take his RMD?

Can a 5500 filing be taken back? Company filed in 2014 for fully insured welfare plan but count was actually under 100, no filing actually necessary. (for lack of knowing an answer to that question, filing is being amended with code 4R to reflect no 2015 filing)

Plan sponsor is setting up a wrap plan document eff 1/1, but some of the benefits are not expected to exceed 100 covered ee's until the following year. Rather than report on the 5500 for all benefits, they'd like to design the wrap plan to include 3 given benefits the first year and additional benefits the next year. Is there reason why not?

somewhat related but different question: Partners in self directed DC plan. One partner has investment in an LLC. when the LLC needs signatures for legal related items as regards to the holding, do all of the Trustees of the plan actually have to sign the document or can it be just the participant holding the investment?

So ultimately, anyone who received either a safe harbor match or prevailing wage contributions, you made sure that, after summing up the s/h match and p/w contributions, they received up to 5% towards meeting the gateway minimum? If they were already at 5%, they did not receive anything, and thus your owners were able to contribute minimally to non-owners.

Towanda - did you conclude that anyone who received Prevailing Wage contributions must receive the minimum gateway ( p/w contributions do not reach the min gateway threshold)?

Similar situation as original post, but with years reversed: Plan year ends 9/30/15, Fiscal year ends 12/31/15. So I'm thinking then they have until 9/15/16 to make the contribution for the 9/30/15 plan year when the company has filed an extension on their taxes?

Consider MP Plan which contains many adopting Partners in professional firm. One partner dies. Based on last post, how do you amend the plan to remove the requirement for contribution if the partner has died? Otherwise how can contribution be avoided and if not who funds it?

Safe harbor 401(k) Plan, 1owner, 5 staff. Discrepancy exists for 401(k) deposits only for owner back to 2014. Owner ran payroll as if one amount was being deposited each time, but actual deposit made was less. Taxes were filed as if the larger amount was deposited. (Example - W-2 showed $10,000 but 401k trust received $5,000) Contemplating best means to correct - owner would like to make late deposits on own behalf, rather than refile personal/business taxes.

jpod - all good points. No not looking to present risk to company at hand, just looking for solutions I might not be aware of that would exclude such risk.

ESOP Guy - also wondering if there is an increase in risk exposure for the plan sponsor of being audited. Lou S - all great points.

ESOP Guy - thanks! never asked for a waiver before. generally how long does it take to receive such a letter and do you always receive one? Also, do you then leave the DFVC blank and simply file late?

7/31 plan year for medical plan 5500 filing did not file form 5558 by 7-month due date (2/28). Filing itself will be filed as 'Final' with no Schedule A's. Employer's fiscal year is not 7/31. Filing itself will be filed by extended due date of 5/15, even though there is no extension. Question is: Any chance the late penalty can be waived, in light of this being essentially a blank 5500? (Would not be asking this question regarding a regular ongoing 5500 that missed filing form 5558)

My familiarity with IDP restatement cycles is limited, as well as my access to prior tpa/attorney records on client in question. I believe that they missed a restatement, but nothing has happened in the plan for years since before that, other than distributions.

PS only husband/wife only Individually Designed Plan restated effective 7/1/08, signed 12/2009. Had rec'd Determination Letter for prior plan doc but did not submit for that one, so currently no effective DL. EIN ends with '2' but no plan doc restatement by 1/31/13. Restate plan w/VCP? w/out VCP? just wait for next cycle?

Plan year starts 3/1. PPA Restatement not yet signed. Can effective date of restatement be 3/1/15 or should it be 3/1/16 now that prior plan year has passed? I recall seeing prior restated plan docs with effective dates of 1/1/02 or 1/1/08. Do earlier dates apply to current restatement?

fwiw - my understanding is that all HCE's are aware of 401k plan and ability to participate, but through discussions (which I was not part of), they have chosen to not participate. It sounds like Plan in question will be excluding Partners and Associates moving forward, as defined in the restated plan document. Coverage testing will continue to include them.

@My 2 cents - no it's not that employer ... this employer has separate ER only xtested plan in which HCE's benefit. But there will still be those HCE's who do not reach their max annual additions in that plan.

401(k) only plan, no match or nonelective contributions excludes all HCE's from plan, but without a formal provision in the plan document. One recent NHCE who became HCE stopped participating on change in status. Plan sponsor prefers not to write this into the plan. What if an HCE insists to participate?

Possibly related - 401(k) plan's 415 amendment included only post severance pay that was 'regular compensation'. In practice, final paycheck includes unpaid PTO. 401(k) is taken from that full amount and match based on that full amount. Does this require a VCP to correct that 415 amendment and subsequent plan document restatement to include this PTO in the plan's definition of compensation?

Plan Design challenge here... All that being said about their desire to maintain the two plans, setting up a 3% safe harbor feature in the 401(k) plan would still be a 'defined' contribution, even if the MP was reduced from 10% to 7%, with a total 'defined' contribution remaining at 10%. Given the ability to take advantage of the catchup feature in the 401(k) plan, I'm still trying to guess why this wasn't done by the prior tpa (who I admire and respect, so skill set was not an issue).

Plan Sponsor understands the ability to stop and/or change MP contribution rate, but they feel in the local business environment that they want to retain the separate plans. That being said, I don't know why the prior TPA did not present the safe harbor option for the 401(k) plan, or if they did why they didn't proceed with it, so I'm trying to ponder reasons against it before we present it.

Company currently has a 401(k) plan and x-tested MP plan w/10% to general staff (10-20% to HCE partners). What would be a reason against making the 401(k) plan a 3% nonelective safe harbor plan and reducing all class rates in the MP plan by 3%? Highest HCE rate is currently 20%. Reason for change is currently no HCE participates in 401(k) plan but this would make catchup available to those over 50. Understood that s/h contribution is fully vested etc.