Mike Preston

Yeah to those who work in benefits!

The year of the missed deferral.

Death benefits, as a rule, are not protected. Optional forms, as a rule, are protected. However, the rules regarding protection of optional forms allow elimination of an optional form if the remaining optional forms provide for essentially the same optional form with all of the benefits paid out over a shorter period of time. So, while I'd check the reg to be sure, my guess is that the client can accomplish what they want.

It is hard for me to imagine a court order awarding custody without some language which has the effect of guardianship. I would think it best that you talk to the lawyer that represented the child in the custody proceedings, if there is one (guardian ad litem).

Only if they want protection.

Who says you can't teach a (very) old dog! Happy New Year! As an afterthought of my own keep in mind that an actuary, as part of the funding method, can choose to include all or a portion of those who are not yet participants in the valuation. If that happens then the actuary essentially treats those who have not yet entered the plan as active under the terms of the plan. Finally, if the formula would establish an accrued benefit as of the beginning of the year for such a "participant" the item 3 body count and the Funding Target could be higher than expected.

Really?

See Bird's last comment on first page.

Pretty much. I guess we just have to disagree on what is perceived as simple by whom.

Yup. Now does someone have the time to answer the OP's question?

Luke, review what you said before my response. You think pooled is more complicated. I don't.

Not to me. Try again?

It seems more complicated only because saying it your way is wrong. You can confirm this simply by considering what happens when the first loan payment is made.

Congratulations!

Not me.

I'm with CuseFan, if given a choice, for the reasons given.

Are the PLLC's disregarded entities? If so, great. If not then deferrals need to come from compensation.

Larry is correct but to clarify just a bit 415 comp encapsulates all earned income from any 414 aggregated companies even if some don't adopt. This is not true for 404 purposes.

Based on those dates you are correct.

Maybe. Dates of birth and dates of hire, please.

This is not going to end well.

Do you handle it as a pop up if the contract is benefit sensitive?

Good for truck dealers!

Poor guy. His accountant thought he could generate a deduction north of $200,000 for 2019. He calls me and not only do I put the kabosh on anything north of $200,000 but I also tell him that it is unlikely he will be able to make any contribution to any new plan because the 401(k) sponsored by the entity he bought will require aggregation for non-discrimination purposes. So goes the war.

Confirmed.