TPApril

thanks! the sponsor at hand simply wants to repeat the standard basic safe harbor match for its discretionary match, which meets those conditions.

many years later on this thread, and i have a question, which I don't even know if it makes sense: safe harbor plan makes the adp safe harbor basic matching contribution. can they in addition make an acp safe harbor match which is essential the same exact match as the adp safe harbor match, essentially resulting in combined match up to 8%, all based on up to 6% of compensation?

One-person plan is going to terminate in 2014. Up to date on all amendments, but should they do the PPA restatement?

Thanks Bill for sharing. That letter is gobbledygook. I for one appreciate being treated as a professional and being told upfront whatever it is that happened. Not some marketingese.

I am noticing a handful of 5500 filings filed on 10/16/14. Not a lot, but more than i'd expect. Was there a similar breakdown of transmissions this year? Even if not, how long generally do they wait for a DFVC submission before sending out letters?

Looks like there are numerous single er plan 5500's filed without the attachment (by other service providers that is). What do you think are potential repercussions?

So they are submitting a VCP for missed GUST and EGTRRA. Having also missed the amendments since (415, ppa, heart, wrera), it appears they can file on the same VCP? But how do you calculate fee? $375 + 750*.5 = $750?

I guess my concern is simply that there was a new DC plan set up within a year of a prior 401(k) plan. Even if in this case there is no risk to balance in prior plan, I am not clear that the exception says you can create a new plan if owner-only participant is over 59 1/2.

My understanding is that if there is a violation of the 401(k) Successor Rule, it is both plans that would be at risk. Of course the greater risk is to Plan 1 since it likely has a larger balance. In this case, I guess the first plan was distributed lawfully, but would you say there is a risk to contributions going into Plan 2 within 1 year?

There was not necessarily an in-service w/drawal violation since the 1st plan allowed at age 59 1/2 which owner was.

At the time of distribution, this was an owner only plan, no other participant. Owner rolled over to IRA and has not touched the balance since.

Small business was convinced by an advisor to start a new plan and the best way to do that would be to terminate the old plan rather than transfer assets. So they are both 401(k) and there is a successor rule issue that has been violated. Trying to come up with solution to fix. Can resolution to terminate first plan be revoked and 5500's amended?

I'm looking to do the right thing in a similar situation, but again it seems a bit excessive. 2013 had exactly 1 401(k) deposit that was 1 day late (8th day). Lost earnings just over $1. I believe based on this thread that an acceptable approach is, have the sponsor deposit the $1 + 10% of that into the trust to affected participants, then report it on the 5500 and do not file vfcp or 5330? What is current belief system on this?

Has anyone come up with a farthest filing date to file for a company that has been around all this time, has never filed 5500 and wants to file as far back as necessary? 1980? 1990?

in practice, how often has there been a bad apple that has disqualified a multiple employer plan that was not able to be fixed by one of the correction programs?

This is not a prototype and the provisions says terminated participants forfeit upon incurring "a Break in Service"

Existing 401k plan document appears to be completely silent to this.

Is the buy-back provision (of rehired employees who wish to restore their prior distribution in order to have their nonvested balance restored) a required provision or is it optional?

Financial advisor office receives the contribution spreadsheet, misses it, and catches it 8 days after small business' last payroll, resulting in late deferral. Advisor firm wants to take responsibility of the small lost earnings amount. To what extent can they actualy make deposit on behalf of the company, or can the source of the lost earnings be the advisor firm. Or am I being too nitpicky?

okay, another question: company has two locations, each in a different state with a different set of benefits. They decide to create a wrapped plan for both groups. Can they provide different SPD's or must there be 1 SPD that includes all benefits within the wrapped plan?

Company has some benefit plans for Union ee's only, some plans for Non-Union only and some plans include both. Currently there are two wrapped plans (union, nonunion) but the nonunion plan has some benefits which include union. what might a best approach be - keep the two plans separate or actually just combine all into one megawrap plan?

Case: Plan Sponsor of PS plan has always been husband/wife and always filed 5500EZ. Have not restated plan since non-standardized prototype which received DL in 1995, document signed in 1997. Question: Is it satisfactory to restate the plan to a new prototype and submit VCP with Appendix C Part II Schedule 2?

This thread seems to be closely related to my question so I will post here. Situation is that fees are being assessed by total balance so each participant is paying their proportionate share. Selfdirected accounts are set up with one account by money source. Question is-can the portion allocable to a Roth 401k account be pulled from the same participants standard 401k account? End result is same fee amount is being paid, just not necessarily from the source that contributed to the calculation.

Well, I'm not the one proposing it, I'm trying to argue against it and looking for justification. What you said is exactly what will transpire if client proceeds.

Thank you for the helpful input. What do you think of an administration fee that is determined based on assets, but then converted to be charged as a per-capita fee rather than prorata fee?