ratherbereading

I need to fill out a Schedule D to list all the subaccounts. I have 3 pages worth; however, I can't get to Page 3 as it is grayed out. I am using Datair. I have 2 page TWOs. Does anyone know how to get to Page 3?

I'm not sure what your former employer's legal plan document says, but I work for a TPA and all our documents don't allow hardship withdrawals by former employees.

I have a plan that failed the ADP test. Several HCEs terminated and rolled their money out prior to the refunds being calculated so their balance is $0. What's the fix?

Honestly, if your employer isn't a supporter then do you really want to bother? I've been doing this for 20 plus years without any designations, and have worked with people who have designations and have no idea what they're doing. Just a thought. I know a lot of TPAs want designations nowadays.

That's actually what I meant to say …

hch4cps I think you misunderstood the question -- is the SH match paid annually or per payroll?

I'm not sure what a clawback is, but there position is not that he wasn't supposed to be paid at all -- he just "decided" to give it all back.

It's a very large corporation.

I don't get it either. He got no W2 since according to them he had no compensation.

The owner of a large company deferred 18,000 in 2018. He gave back his entire 2018 salary at the end of 2018. They now want a refund of 18,000 processed for him. Anyone ever had this situation?

I think you will find your answer here … https://www.irs.gov/retirement-plans/correct-common-hardship-distribution-errors

If what you are saying is true then I'm not sure why you would not get one. There is no last day or hour requirement for a safe harbor contribution. If they are making a safe harbor contribution for 2017 and you were there during 2017, even if you worked for 6 weeks, you should get on. I'd definitely talk to your HR department.

I think the key words are: may be amended. It sounds like the safe harbor feature is the flexible safe harbor, which means your employer can choose each year whether to make it. Did you get a notice around November of last year stating the company would not be making a safe harbor contribution for 2017?

I did have a plan a long time ago where a participant's wife was convicted for his murder and she was the beneficiary. The money was paid to her.

Going to ignore your condescension and snarky reply-- you're from Mass which explains it. I merely ASKED if rollover money was involved. Just because he didn't mention rollover money doesn't mean it wasn't involved. Further, are anyone's comments any of your business? Sheesh.

Hope it helps!!

Maybe the link at the end will help. And to answer #2, yes they would be 100% vested if it really is a true partial plan termination. Why wouldn't they be? As a college professor said once about fairness in life, "The fair is on 38th street." But really, you only have the employer's word saying they were dishonest. I have a plan who has a participant who was fired for attempted murder and he got a distribution. https://www.irs.gov/retirement-plans/retirement-plan-faqs-regarding-partial-plan-termination

Hmmm. Not sure what your point is... Our documents allow participants to take a distribution of their rollover source regardless of age and employment.

Does he have rollover money? Our plans allow participants to withdraw their rollover money anytime.

We do our 5500s on an accrual basis, so the 2017 contribution goes on the 2017 5500 no matter when it was made. The bigger question is why is anyone on here on a weekend??? That's awful!!!

No, the interest rate is not hard coded into our documents.

The participant was a NHCE and the interest rate was a small amount higher.

This happened to one of my plans and we left as is. The plan was stuck with the terms, incorrect as they were.

I don't think you can change the terms of the promissory note that the participant signed even if the plan requires a different interest rate because the note is a contract between the plan and the participant.

This was really interesting. I've been doing this since 2001 and have never had to provide a memo to the trustee, just an email with the report.