pam@bbm

This was the final 2015 payroll.

An employee discovered that his employer incorrectly calculated his deferral for this week's payday. Employee has cashed his paycheck so it can't be voided and redone. Can employee pay back the employer and the employer make the correct deferral deposit to the plan? Or does the employer need to make a QNEC contribution?

Employer has 2 plans, one for union employees and the other for administration. A participant in the union plan changes positions and is no longer eligible for that plan. How can he transfer his funds to the other plan. Can it be done through an in-service withdrawal from the union plan and rollover to the other plan? He is 50 years old.

Would like to know how others handle enrollment/election forms for rehires. My understanding is that when a participant terminates employment their deferral election becomes void. Upon rehire, they should receive new forms and make a new election. Am I correct?

I'm the TPA, just looking for some guidance.

Participant terminated in May. She completed distribution paperwork, the employer signed the form and we processed her distribution in July. Now the employer notified us that they changed her status from terminated to on-call in June. The distribution was done as a rollover. Do I need to request the funds back? The participant is too young for an in-service withdrawal. Thanks for any advice