Flyboyjohn

I'd be concerned that any plan of any size or complexity has been able to maintain grandfathered status this long....FWIW

In 2014 my household income is between 100% and 400% FPL I know that if my employer offers me affordable self-only coverage and offers to cover my dependents and spouse (if I pay the entire additional premium) none of us can get a premium tax credit (subsidy) from the health insurance "marketplace" But what if my employer does NOT offer to cover my dependents or spouse in 2014 (I know they will be coerced to offer dependent coverage in 2015), can my spouse and kids then get a marketplace subsidy? I would think so but need reassurance from an expert. Thanks

Anybody know where I can find a chart/list of the required cafeteria plan document amendments over the past decade or so? Thanks

Aetna is proposing changing to a 11/30 FYE to delay implementation of the substantive provisions that increase premiums as long as possible They are NOT speficially saying that such a change will delay the effective date of the 4980H mandate and penalties and I don't think the Transition Relief for fiscal year plans that existed on 12/27/12 would permit a fiscal year plan to change to a new 11/30 FYE now

Leevena can you provide a cite to the relief you mention? Thanks

The prohibition on "currently maintaining any other qualified retirement plan" is a condition IRS imposes on using their Form 5305-SEP and not part of the code or regulations There was a time when you could find "private" SEP documents from finaicial institutions that didn't contain the "no other plan" provision Please let this group know if you're successful in finding a SEP document without the offending prohibition Thanks

I think "self-employed" means anyone with earned income NOT reflected on a Form W-2 (proprietors and partners that report self-employment income on tax schedule SE) Does NOT include S corp or C corp shareholders who recieve their plan compensation on a W-2

Great and thorough answer, thanks Just one m ore follow up, I promise: Do the B employees have to receive gateway minimum?

Allow me to restate the question. The controlled group rules initially say that we have to test them as if they're one happy employer. But then I think 410(b) says that if looking t the whole group we can pass coverage using the 70% ratio percentage test (and not the ABT) we can go back to ignoring the controlled group status and test for discrimination as if the other employer didn't exist. Correct?

This is one of those basic questions that seems too good to be true when you see it in action. 2 companies owned by the same individual, 1 has a 401k plan with cross tested profit sharing, other company has no plan So long as the company with the plan can pass the ratio percentage test taking into account the employees of the controlled group we're good to go with no further combined testing (once we get past coverage we can test the 1 plan as if the controlled group doesn't exist)? Thanks

Are you sure the prepaid legal "plan" requires a 5500 filing? Most that I've seen are "employee pay all", no ER involvement beyond collecting and transmitting premiums. If a 5500 is required it's unlikely the wrap document included the prepaid legal "plan" in prior years so you probably can't use the amended 5500 route but would have to file separately.

How are you providing ETFs as an investment option in a 403b, are they still considered mutual funds (registered investment companies)?

I think that if an employer purposely blew up a SIMPLE IRA today to move to a 401k plan the 2013 YTD contributions would become "illegal" and need to be dealt with but prior year money is not "disqualified". What happens if the employer has a SIMPLE 401(k) and wanted to amend it today to take it out of SIMPLE status? Are the only consequences that the plan loses the ADP/ACP and Top Heavy exemptions? Do we have to do anything with or otherwise be concerned about the 2013 YTD contribtuons? Thanks

I'm seeking support for IRS relaxation of the 90 day limit on the administrative period to allow 3 calendar months (allowing an October 1 to December 31 administrative period for example) Commenting is quick & easy, go to regulations.gov and search for 4980H, takes less than 5 minutes Thanks

Thanks Lou and Tom I assume there's no wiggle room on having to use pro-rated comp limit ($125,000 in my example)

Since some filers seem to be getting away with just the opinion do you have a citation? Thanks

I'd like further discussion on the 415 issue. Reg 1.415(j)-1 provides in essence that the limitation year is always 12 months except in 2 circumstances: a change in limitation year or a short final plan year. The Reg noticeably doesn't reference the possibility of a short initial limitation year. So the question is can/must a new plan have a 12 month limitation year when the employer was not in existence for the entire 12 month period? Clearly if the employer is in existence for the entire year it can retroactively adopt a plan late in the year and benefit from a 12 month limitation year. Thanks

New company formed and first payroll period commenced 7/1/2012. Company adopted 401k PS plan effective 7/1/2012. Are these correct: 415 limit not-prorated (still $50,000 + catch up)? 401(a)(17) comp limit is prorated ($125,000)? Thanks

I think you're stuck with 25% of last 2 months compensation Perhaps the PEO plan document should be amended to avoid this unfortunate result for new adopters going forward

Part III of Schedule H requires attachment of the auditor's "opinion" The opinion is just the signed first page of the auditor's "report" which goes on to include the statement of net assets, statement of changes, footnotes, etc. I've seen instances where the 5500 preparer/filer only attached the opinion and not the entire report. Is this legal/permissable? Thanks

I've learned from one of the major open MEP players that they intend to start filing separate 5500s/audits effective with the 2012 filings

General rule is that contributions are deductible in the year PAID with the well-known exception being that the employer can ELECT to deduct contributions paid during the filing period on the prior year return. The employer ELECTION is simply made by claiming the deduction on the prior year return. So the answer is there's no formal designation required, simply don't deduct the contributions until the 2103 return. But be aware of the potential 25% deduction limitation problem in 2013 as noted by the prior commentator above.

When the DOL turned open MEPs into separate plans for 5500 and audit purposes last May they didn't say "when" their position became effective (retroactive, starting with 2011 or 2012 or other?) Does anybody know what any of the big open MEPs are doing? Thanks

The 25% deduction limit is on eligible compensation, are you counting 2 months or 12 months of compensation in allocating the profit sharing?

Unless you're a law firm I'd recommend engaging the services of the proverbial "good ERISA attorney" since as you say you're out of your element