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If a company paid a qualified plan expense directly (i.e., audit fees), are they able to be reimbursed from the plan's forfeiture money? I have had some clients that have done this with no problem, but one recordkeeper is telling a client it is not allowable. Thoughts?

A plan allows rollover contributions once an employee becomes eligible at 3 mos of service. If the recordkeeper inadvertently allowed 2 rollovers prior to the participants being eligible in the past year, is a retroactive amendment allowing rollovers immediately sufficient to correct this?

Two employers participate in a plan under one company. If a client is going to acquire one of those companies, what are the options for the 401(k)? They can't merge the whole plan into theirs since there is another employer, correct? Is the only option to terminate those employees from the sellers plan and let them roll over into the buyer' plan?

Is there a requirement to provide notice to participants if a plan is not going to make a discretionary match one year?

As of 10/1, Company A became a wholly owned subsidiary of Company B. Company A's employees moved to Company B's payroll, but continue to work for Company A. Company B wants to keep allowing Company A's participants to contribute to their plan until the plans are merged in 2025 but their TPA is saying if they are being paid by Company B they are Company B employees and can no longer contribute to Company A's plan. is that correct? In past acquisitions, Company B has moved employees to their payroll and continued to remit contributions to the acquired entity's plan until the merger date. Why would they not be able to do that again?

How can the President of a company maximize total contributions to the plan? The plan is safe harbor. There is only 1 other employee who is an NHCE in the plan. He is over 50 so he can defer $30,500 in 2024. Match is 100% up to 6% They have a discretionary profit sharing provision. Roth deferrals are allowed but no after-tax contributions. What is the best way to reach the total annual additions limit of $76,500 for the year?

Is there any scenario where it is ok to have a match in a plan only for a select group of employees?

A 401 (k) plan converted to a recordkeeper that doesn't handle plan documents. The Plan is still operating off the volume submitter document of their prior recordkeeper, and the new one is administering the plan in accordance with that document, however it won't be updated or maintained. What should their next step be? They've reached out to two tpas who won't do it for them because it doesn't comply with theirs. Do they need to get an Erisa attorney to draft one? Their current recordkeeper is telling them they don't need a new plan document to recordkeep the plan so its making it difficult to convince them they need to spend the money on an attorney. Any thoughts or suggestions?

If a participant didn't defer the maximum they could in one plan year, is it allowable to allow them to make a sort of true up contribution and give them the opportunity to make additional contributions for the prior year?

What are the best options for someone who wants to offer their 1 employee a retirement plan? This would only be for the employee, not an owner.

When complying with the new Roth Catch-Up Contribution provision of SECURE Act 2.0, do plan sponsors need to add Roth as an available option for all participants in the plan? It seems like they should, however we work with a plan sponsor that does not want to make it an available contribution type in the plan. Is that permissable?

What should be done if a plan sponsor realizes a fund change notice has not been distributed 30 days prior to the change? The change is happening tomorrow and is already in process, it can't be stopped. Should they distribute the notice today even though it's only a day prior?

Is there any way to force out small balances of active employees who have never contributed to the Plan? We have a plan where a number of employees have balances <$1,000 resulting from a one-time profit sharing contribution. The employer would like to cover recordkeeping expenses for participants with less than $1000 as a perk to newer employees who are just starting to save in the plan, but want to exclude those with just profit sharing money. The recordkeeper is unable to do this systematically. Is there any creative way the employer can get these small balances out of the plan if these participants are still active employees?

We have a client converting from one recordkeeper to another. Their payroll vendor is charging them to set up the new payroll files. Would this be considered a qualified plan expense that can be paid from plan assets or is considered a settlor expense? We have received varying opinions.

What are acceptable methods of self-correction if an employer missed setting up loan repayments? A participant was supposed to start getting loan deductions taken in September 2021 but the employer's payroll area missed setting it up. The participant can't pay a lump sum to catch up. Is the only option to amortize over the remaining period? Can they chalk it up to an administrative error and change the start date?