JanetM

My piece of trash comment got some discussion while I was away. The guy has been in trouble from the day he arrived in this country, fights, theft, assault, you name it. Now he has killed three and rathen than send his sorry butt back to his own country, we will pay to keep him in a nice jail cell with cable TV and three squares a day. You want to come to the US fine with me as long as you play by our rules.

You have a MT and the trustee is going to certify the assets for the total trust. The auditor tells you no? What are they relying on in order to avoid full scope audit? Or are they telling you this isn't MT and the have to do full scope audit ( at much fees)? One advantage of MT is reduced fees. I have 13 DB in MT and 4 DC in MT. Only pay one time for Trustee fees and due to asset base the custodian fees are pushed down. Couple of investment advisors and dozen inv managers keeps things simple. Biggest advantage is plan 5500. Single assets is inv in MT and you don't have to worry about all the detail by plan. Trustee provides all detail at MT level for the MT 5500 filing.

Dave, I was gone form office Saturday 9/13 till today 9/17. I use IE and today when I logged in it shows posts going all the way back to 8/26 as new since my last visit.

Not if you income exceeds the cap now. You can convert to traditional now and when income limits go away you can convert to Roth.

Kind of hard to call it amendment of PS plan when all the k funds went to new trust accout (my assumption). If you set up new plan with separate recordkeeping for just the 401K funds then Delinquent filer program is what you need to do for PS. If they sent the 401K funds to same trust accout that had the PS, you could try and self correct by amending old PS returns to show the PS and 401K assets. Plan sponsors, especially of small plans, can really mess things up.

masteff I will say the question is tainted by recent Denver news. On 9/04/08 here in Denver 23 yr old Guatemala ILLEGAL francis Hernandez did hit and run on pickup truck that carried 49 and 51 yr old women. Truck ends up shoved into a Baskin Robbins - killing a 3yr old. This piece of trash has long (read 16) history with law enforcement. Problem is local cops call ICE and ICE won't come get them. Locals can't keep them locked up on immigration charges so they have to let him go.

Cuts are supposed to expire 12/31/10. Obama and McCain both have plans that sort of extend many of the cuts. If I have kept up with all the changes both candidates have made to platforms I think if Obama wins his basic plan is to extend cuts for only those whose income is under $250k and McCain will extend almost all the cuts as they are. (I don't know if the $250 is for MFJ or Single filing)

Opps, that is what happens when you work with static group who has been vested and new new entrants in 5 yrs. Thanks for correcting my post.

TV theme from the Jeffersons.................. you forgot the rest Fish don't fry in the kitchen Beans don't burn on the grill. Took a whole lotta tryin' Just to get up that hill. Now we're up in the big leagues Gettin' our turn at bat. As long as we live, it's you and me baby There ain't nothin wrong with that. AtA are you including immigration in national security or population control?

He is terminated EE he can take a distribution from the plan. He can get his money back just fine. I agree with Larry, if they don't don't notice it on the first or second paycheck, they they are stuck with it.

Why do you believe the FICA/MC/FUTA are reported in the year following the contributions? It is simple. Around the time the contribution is made to participant account, income equal to the contribution is imputed to the. Example: Mary receives contribution of $10,000 in NQDC plan in May. In June the $10,000 is added to her regular pay for purpose of calculating the employment taxes. Mary has already passed the tiny FUTA threshold there is no tax due. Mary has also passed the SSWB for the year so no additional tax is due. Mary (and the employer) are required to pony up for the MC tax which has not income cap.

No I haven't heard that you can can convert to ROTH inside the 401k plan. The new rules on Roth starting in 2010 is the income limits for converting/contributing to Roth are eliminated. Person could take inservice w/d from K plan to IRA and then convert to Roth.

The rehab plan will normally contain options for reductions in future accruals, or increases in employer contributions, in the event that agreement cannot be reached, a default option. Each participating employer will decide which plan they wish to go with. Not all participating employers will need go with same option.

Okay here is what I found. The Trustees of the plan have a duty of loyalty to all plan participants and not to the participating empoyers or union that named then trustees. So to require paying of union dues as eligibility for 13th check would breech this duty.

Other than it smells like 5 day old fish................... I can't cite reg off the top of my head but will do a bit of seaching. Seems like backhanded way to get more money into union bosses pockets. Dangle a possible 13th check and more folks will start paying dues. Why the heck would they pay dues? What kind of benefit do they get in return from the union?

Normally participant directed accounts use the same broker as the assets must stay in plan trust account.

I am not familiar with any union that allows active union members - defined as those actively working the trade- to continue to collect pension. Normally if retiree returns to union covered employment the pension is suspended. Does this union group consider active anyone who simply pays dues?

Pulled this from CPA Journal article Contingent Benefit Rule. A Sec. 40 1 (k) plan will not be qualified if any other benefits (other than matching contributions) are contingent employee contributions. However, the final regulations, provide that deferred compensation under a non-qualified plan will not violate the aforementioned rule merely because it is dependent upon the employee making the maximum contribution under a Sec. 401(k) plan. This rule is intended to permit a non-qualified plan to provide benefits in excess of the elective dollar deferral limit, and will not cause a Sec. 401(k) plan to violate the so-called contingent benefit rule. QDROphile gave this site in other post - Treas. Reg. section 1.401(k)-1(e)(6).

What does the plan say? Does the plan specify that the valuation (val) is done annually? Does if allow for updated val at plans sponsors discretion? If yes, you can and should update the val. If the plan does not say how often the val is done, does is mention anything in distribution section? You need more advice, specific to your plan language. You have to balance between your fiduciary responsibility while ensuring you are not singling one idividual out for special (different) treatment. I agree with Bird, if all the prior distributions were done just after val, early in the following year that isn't the same as paying out in Sep or Oct.

Larry, so after you segregate the assets into alt payees account you are saying you don't treat them as is they are participant? Rarely do I have DC qdro that says anything about beneficiary.

Alt payee would be treated just like participant. What does the plan say happens if participant dies w/o beneficiary?

Does anyone know of a third party we could outsource this to? We are looking at this type of plan as alternative to severance plan.

On or before 8/04/1997 the max for force out was $3,500, after 8/05/1997 the limit was $5,000. Effective date that changed rule so you could not force out more than $1,000 was 3/28/2005. For the amounts over $1,000 and under $5,000 you had to get the signed request from the participant. This participant did request lump sum. Is it possible that the prior HR person lost him? He could have moved and not update the address.

Loan from MPPP MUST have spousal approval. MPPP is subject to minimum funding under 412 and therefore subject to all QPSA & QJSA rules.

The fee charged for loans should be covering the TPAs cost to administer the loan. You can pick any amount for max loan amount and the number of loans available.