Nancy D

Thank you Flyboyjohn. That is what I was thinking but couldn't find anything definitive. I really appreciate your help.

Hi all, I am wondering if "Key Person" Insurance policies are generally subject to ERISA? This is not part of a group policy, only life insurance company offers is 100% paid by company for the owners of the company? Thanks for any guidance you can give.

Thanks, great idea!

Hi all, I am hoping for some guidance in this situation. Our client (OC) wants to sell his business to another company (AC). AC is not yet ready to buy OC but wants to test the waters by working on some projects together. If all goes well, AC will buy OC in a year or two. OC has a safe harbor 401(k) plan, AC has no plan. As of now there is no common ownership. They expect that about 50% of OCs business will be for contracts generated by AC, but OC will have some contracts independent of AC. OC and AC want to split each employee so that they work half time for OC and half for AC. They would like to continue to cover the employees 100% under OC's 401(k) plan. I was looking at Affiliated Service Group rules but get stuck because there is no shared ownership. Does anyone have any suggestions? Help? Thank you in advance for any suggestions.

Hi, I inherited a 403(b) plan that provides for deferral, roth, matching and profit sharing contributions. I don't have a lot of 403(b) experience, but am learning. The plan definition of compensation excludes bonuses for allocation purposes. Profit sharing allocation is basically the same dollar amount to each participiant and matching contributions are a formula based on service and percentage of deferrals. So, my maybe problem. The plan fails 414(s) testing. Plan passes ACP testing using gross compensation with no exclusions. Just for fun, I ran the 401(a)(4) general test on the profit sharing allocation and it passed using gross compensation. Am I ok, or do I have to worry about 414(s) failure? Thanks much for any help!

Thanks, I got myself going in circles with how attribution fit in to this example. I appreciate your help!

Hi all, I have a situation where company is owned 100% by A. A's mother worked at the company, terminated 3 years ago, has not take a distribution. Is mom's account balance included with A's in determining whether plan is top heavy? Thanks much for any help with this issue!

Hi, New to filing 5500s for welfare benefit plans. I have a plan that has a Wrap document so I know I only need to file 1 5500 form. But now, my stupid question, when I get to the questions 5, 6a, 6b and 6c re: participants benefitting under the plan, I have different numbers of participants for health insiurance (175), Dental (208) and Life/LTD (402). How do I figure out which number to use, do I just go with the 402 as that is the largest? Thansk much for your help.

Thansk much for your help!!!

Hi, I have a plan where a aprticipant signed up for ROTH contributions in 2012. The contributions were designated pre tax, contributed to the pre tax account and the W-2 reflects what happened. Participant is now asking Sponsor to "fix" the contributions to what she signed up for in the first place. Is it possible to make the correction now and issue an amended W-2? Thansk for your help.

Hi all, I have a 403(b) sponsor who wants to limit employee deferral elections to either Roth or traditonal 403(b) but not both. So for instance, if I wanted to contribute 10% of papy and have half be traditional deferral and half be ROTH, I couldn't do it. Does anyone see a problem with this? Thansk in advance for any help you can give me.

Hi all, I am in the process of creating a Wrap (Document and SPD) for a client. I believe I have everything covered except the requirement to explain how insurer refunds (dividends, dmutualization, etc) are allocated. I understand this differs from carrier to carrier, but I am just looking for sample language for a jumping off point. Any help or pointing in the right direction would be greatly appreciated. Thanks

Thanks much for your response. This merger has been a learning experience!

Hi all, I am new to the 403(b) world. I have a newly created Non Profit Agency that is the result of two different groups merging as of 7/1. Both groups have their own plans that will run thru the end of the year. Each plan counts service under both for eligiblity and vesting (matching contributions). Each plan has a differnt match formula. I have employees transferring from the entity with the more generous match to the entity with the less generous match. Is it possible to have two match formulas in the plan, one that mirrors more generous match for employees transferring from that agency and keep the existing match for employees who haven't moved. There are no HCEs among the transferring employees. Are there any implications I have to worry about? Thanks for any help, I hope my question is clear.

Hi all, I am new to the Welfare Benefit world of 5500 reporting, but do have some expericence with retirement plan 5500 reporting. When I read the instuctions for who must file a 5500 for a Welfare Benefit Plan it looks as if fully insured welfare benefit plans are exempt. I read this that if an Employer offers health insurance thru say BC/BS and all the premiums are paid by Employer and/or Employee that a filing is not required for that plan. I am getting push back because the insurance carrier issues a Schedule A. The argument is that if there is a Schedule A the filing must be required. Can anyone tell me if I'm missing something? I really appreciate any help with this.

Thanks for your response. I'll sleep well tonite knowing that I can treat all my plans the same way.

I have a takeover plan which has always filed their 5500 on a cash basis. My preference (and all my other 5500s) are to file on an accrual basis. Is there a problem in changing to an accrual basis? Thanks much for any guidance.

Thank you all for your help on this issue. I appreciate the thoughtful responses and guidance.

Thanks all for your help. It raised my hackles (too much time with my dogs), and I appreciate the confirmation.

Hi all, I have a plan where the Sponsor wants to allow participants to invest in managed accounts, but only to those who have an account balance of $300,000 or more. Has anyone seen this in a plan? Does anyone know of any guidance on this issue? Thanks in advance for any help.