abanky

you know what's weird is that on the EBSA website, you can't get separate instructions for the SB or MB... but if you click the full instructions, you can scroll down to the instructions for the SB or MB

I agree with Andy.

so if a 12/31/08 EOY Plan had a required contribution of 100,000, effective rate of interest of 5% and it was made on 6/30/08, the plan would be short of $2440 (using simple interest)?

i guess i'm a little confused. I thought you didn't have to discount 2008 contributions.

i use the 30 year treasury for all cb plans. we've decided to put cb plan design on hold as well... at least until congress decides that it's ok to fully fund a plan.

Is there gasb 45 software out there for groups who don't qualify for the alternative method?

so may i ask what you guys are doing (those who were like me and didn't know that this would come up)?

i forgot about the schedule sb for 08... haven't gotten that far ahead

so ppa is forcing me to be 73% funded in the first year? Would I be able to show that I am at risk in the first year on the Schedule B? wouldn't that throw up a red flag?

this is a first year CB Plan... I'm allocating 90k to the hypothetical accounts. Pre-ppa, you could match the 412 contribution with the hypothetical allocation... Now I with ppa, i'm coming up with a contribution of 66k. Anyone know around this problem? am I doing something wrong?

a company maintains two plans a db plan for the union and a dc plan for non union. are either true? 1) the funding as % of compensation are independent of each other because one plan is collectively bargained. or 2) the ps can still fund up to 25% of comp because the union plan is covered under pbgc. Am I way off?

perfect, thank you.

First, the two companies are not related in one bit. Second, Owner A is 50% partner in Company Y and Sole Owner in Company Z. Company Y has a db plan where Owner A is at the 415 limit. My question is, can he start a plan in Company Z where he gets up to the 415 limit in that plan too?

The plan allows for all the standard annuity forms plus lump sum. Say the participant is turning 57, his NR benefit is 1000 and for simplicity sake the participant accrues $50 per year of participation. What he wants to do is take out 100% PVAB of the life benefit or partial payment of his PVAB. If he takes 100% of his PVAB, then at 12-31-08 would his ab be $50? am i over simplifying this?

NRA is 55 in this db plan the definition of late retirement is paid as though he had actually retired plus additional accrued benefit my question is... must he take it as an annuity or can he take a lump sum (or partial) Thank you, Andrew

Top Heavy CB and a PS Plan. Both documents say TH contribution of 5% in PS. Employee is only eligible in CB Plan due to definition of eligibility. Does he get 5% in the PS plan even though he wouldn't be normally eligible or 2% accrual in the CB?

Follow up question (and I apologize if they are very basic, i'm still learning), 1) do all contributions have to be discounted back using the effective rate to the valuation date or the the beginning of the year? 2) is the interest deductible or just the rmc? Simple Ex. Rmc at 1/1/2008 is 100 all quarterly contributions of 25k are made and on 9/15 an additional contribution of 4200 is made. is the client able to claim 104,200? 3) Isn't there an interest penalty for not making the required quarterly contributions? Thank you

I've got a couple questions... 1) are required quarterly contributions due for all plans that are less than 100% funded? or 2) is it just for underfunded plans with souls over 100 or is it 500? Thank you, Andrew

it's a pc and no, the contribution was actually made today.

I've never dealt with a plan that hadn't contributed their Required Minimum by 9/15. Is this true (basic example): Required Minimum = 100 Contribution made on 9/16 = 100 Funding deficiency for 2007 = 100 Tax deductible contribution for 2007 = 0 if this is true, what is the reg for this? Andrew

SIMPLE IRA 100 person rule - plan has less than 100 ees in 2005, more than 100 in 2006 and all subsequent years. Plan is eligible in 2006 because of the look-back rule, does the 2-year grace period include 2006 or start with 2007?

the "rep" was someone "in charge" of this major insurance company pension plan documents or so she said... i got the IRA rollover amendment... which makes this whole situation even weirder. Amendment 10 is gust, amendment 11 is ara.

Thank you. That's what I think to... it is just frustrating, especially when this plan is ready to be termed and paid out.

That's what i think too.... but according to the representative "there was no "good faith" amendment done and it wasn't needed to be done."

I took over a plan from an insurance company which had a prototype document. I had never dealt with this type of document before. The original document was signed in 94, then in 02, they sent replacement pages for the gust restatement.... then the next amendment was in 05 and was the Automatic Rollover Amendment. I asked the insurance company where the Egtrra amendment was and was told that they "sent a letter" to all plan sponsors in '01 saying they would be restating the plans with egtrra and since my client terminated service in 07 (yes, 07) they can't won't be restating it for egtrra. Which is fine, since the plan is terminating... but where is the egtrra amendment. Was it required?