stevena

I worded it incorrectly. They didnt get bought out, it was a merger. So I am thinking the employer is the same, and that they would test all the contributions, regardless of what plan they went to, together? I am totally clueless.

Nope, I am very dilligent with my plans. Obviously I wouldnt not run coverage if there wasnt a T...I was just suprised at the change. I am working at a new firm that sort of seems to do things very differently...so I am struggling a bit. I worked somewhere that did everything by the book and to the letter for a long time. I just can't tell in the new firm I am at, what is ok to do and what isn't. It seems almost eveything is done so differently.

I asked this on the terminted plan board, but it does not get much activity, thought i would try it here. I have a company that terminated their k plan in January of 2005 when they got bought out by another company. The February deferrals started going to the new company's plan. Do I test the terminated plan just for Jan. deferrals? Something feels wrong about that...? thanks all

thanks for the help. a week later and i am still getting lost. its frustrating..i know what i want it to do, i just cant get it to do it! There are so many different places to set up all the options... guess i will get used to it. what suprises me is that everyone in the office seems to know the basics...but no one really knows how to use this thing inside and out. it seems a lot of trial and error going on. lots of "lets try this". lots of time....

My understanding (and assuming that the ee is taking out a distribution and that the disability is the "triggering event" making the ee eligible for the distribution?) Yes, the distribution is subject to withholding. It isnt an RMD, a periodic payment, a hardship, a corrective distribution, a loan treated as a distribution, a dividend on employer securities, or the cost of life insurance, which are the only things that are not subject to withholding (if I am thinking of them all) As an aside, I know that if the disability is "qualifiying", the ee may not be subject to the 10% penalty. I have never researched what makes it qualifying...

HUH....Who would have thunk it. I am all for discontinuing schedule R, but the T??? Anyway, would love response for 2004 filings. I dont want to not file for all these cases if I should be filing! Thanks for the info

Could someone help me out with the 3 year cycle for schedule T? I have been looking for rev. ruling 93-42 but cant find it. I usually file every year for small 401(k) plans that i administer. Just started with another firm and they file every 3 yrs. All our plans are about 50-60 ees, with terms and hirings every year in most plans. I dont know what "relying on prior year testing" would mean? I also searched the board, but only found one message on the topic, and it said filing every year was just "easier" than proving that a plan could file every 3 years. Is there some test that you have to pass to prove that you can file every 3? Thanks much!

This is too much for my monday morning brain. I have a plan that terminated in January 2005. Employer merged into new company and started participating in that employer's plan in February 2005. Do I do the ADP test for the single month of deferrals? I thought so, and started to, but something keeps nagging at me...? that the employer would be testing those deferrals on the test for the new plan.

thank you so much, that makes sense. I have never used a system before, I always have done everything by hand. I am finding it so frustrating.

It is the first year, thank you for the help. If you dont mind, what is the difference between top heavy skim and top heavy? i appreciate your help.

Hi, I am very new to Relius and was wondering if someone could just tell me how to make Relius calculate top heavy contributions and allocate them to the required employees. Right now I am running the ADP test and then manually posting the required top heavy contributions becasue I cant figure out how to get the system to do it. I am not going to training for a month so have to struggle here for awhile. I went onto the help topics but I cant find it. I've only used this for 3 days so please in "dummy" language. This is more complicated than I expected!

oh, you are one of THOSE guys.... (Just kidding.) Well, not sure what the deal is with this company. Guess I better just keep my options open and bail when I need to bail. The funny thing was that I was talking to the Project Management department, and they were telling me that one of the things that they strive to do is set deadlines for everything, otherwise nothing gets done. I wanted to yell, make me a project then!! Thats what I mean about my lack of experience with big companies. It is beyond me what could possibly take months to figure out, what a colossol waste of energy. But I guess big companies work the way they do, not much i can do about it. Thanks

Burns, are you saying you think they were just being nice? Giving me lip service? I have never heard such a thing... why bother? After I visited their office last, they called me (this was last Friday) and said that they would be calling me early next week after they worked on some budget issues. I can't fathom why they would actively string me along like that. Why not just never call me again?

I know thats the smart thing to do. I probably should have taken one of the offers before now. But...I just want this one so badly. I learned from my current job that the people you work with are so important...and these people are just so smart...If they dont have the budget for me, I can't figure out why they wouldnt just say that. thanks....

Good morning, Could anyone offer me some feedback into hiring practices at your fim. I have only worked for 2 firms, and both have been small companies where interviewing and hiring happens within a matter of weeks, and decisions are made without having to go through much red tape. I am not familiar with having to work with departments, budgets, multiple locations, red tape, etc. I have been interviewing for an out of state position for about 4 months. I have had some offers, turned some down, and narrowed my choice to three employers that I wanted to work for. Unfortunately, I had offers from two of them, but it is the third one is making my head spin. Also unfortunately, it is the company I want to work for the most. The company has a great reputation in the industry and the people I have met at the firm are so incredibly smart and talented, I am so anxious to work with them. I have done phone interviews with them, and traveled down to their office twice. I spent two full days in their office and met with the heads of three departments. They keep saying what a great candidate I am and that they would love to have me on the team. However, I havent yet seen an offer. There have been explanations why, including budgets, people being away on business, having to talk to other locations, etc. Two weeks ago, I visited their office again to meet with the department heads. I fully expected to leave the office with an offer. However, I got a "we'll be in touch." The weird thing is, they keep saying how great I am and how all the people in the office really want me on board. In the meantime, the offers from the other two firms have come and gone. I had a deadline to accept them, and I turned them down, because of this firm that I really, really want to work for. Is this normal? Could budgetary stuff really make an offer take a few months to go through? I cant think of a single reason that they would string me along, other than that they really do have budgets to work on. Now I have another potential offer coming in. Its a good firm and a good offer. At what point do I just walk away from something I really want?

We track all of these late deposit earnings as receivables on our annual report. We have had a few clients that have 3 or 4 years earnings as receivables on their annual reports. They did eventually pay when they see its not going away.

It's fine to amend back.

when a doc says "W-2 wages", (in all our adoption agreements that we work with at least), right below that compensation question is another question which gives guidance about what to add or not add to those W-2 wages.

you know what, my bad. i just re-read and saw that this is a stock sale. sorry. so my answer...totally not right. but, I still would never expect that the new owner would do anything but terminate that plan. however, its theirs to terminate... sorry for going down the wrong path there. i will read more carefully.

Ive had a ton of these buyouts, and have never seen a purchase agreement which did not specifically state that plan assets were not part of the asset sale. the lawyers are usually right on top of that. the purchasing companies would be nuts to take over a plan that they know nothing about. just thinking about what i see sometimes when we take over plans....and tens of thousands of dollars later....why would anyone want to take over a plan, what is the benefit?

my take: although you said the plan is being sold, it sounds like this is an asset purchase. the new co. did not buy the plan when they bought the assets. (I cant imagine a company being willing to do a corporate resolution taking over a plan-liability) follow the rules for terminating plans as far as those "old" participants go and find them auto rollovers. the other participants who are "continuing" are rolling their assets into their "new" employers plan.

im getting silly...its friday and i have only 3 more tests to do out of 80...lots of late nights and i am overtired. and its so darn cold outside, i have had it with this snow. see, i am rambling.... three more, three more......

are you calling me old?

those of us who have dinosaur excel. the formulas have to have =+ at the beginning.

why dont you do it as a percentage of the year. 52 weeks... earnings for the year is "x" week 3 of the year would be +def/(3/52*x) i think this would work.... bummer you have to do this though.