ratherbereading

Which calculator are you talking about? The VFCP calculator on the DOL website is specifically designed for calculationg corrections under the VFCP, not theDFVCP. The DFVCP has its own calculator. , which you may know, just wasn't sure which one your were referring to.

My only comment/opinion is that maybe the person you spoke to actually didn't know why you weren't told about the audit; hanging up on her was rude. You need to talk to someone at your company re this.

Not super smart, but I agree. Why does the client disagree?

I agree with your interpretation.

Never heard of that. I've had lots of plans switch providers mid-year. These are all 401k/PS plans I'm speaking of.

Welcome. I believe it can include the SH Match. Hopefully someone else will chime in!

No they can't fund it themselves. This is from a previous post - maybe a couple of years old:

The SS Fairness (??) Act doesn't create a new automatic entitlement to benefits for ex spouses just because the ex spouse starts receiving benefits after the law's change.

We count plan actual hours worked int tha plan year. So 1/1 - 12/31 regardless of when the last contribution of the PY hit the investment house. Exception is the first year which we count from date of hire to one year from the date of hire.

Many years ago I got a really great discount on a brand new car from one of my cients! 🙂 I think you're fine.

Agree about NW! American Funds Record Keeper DIrect and Plan Premier are good, as are Empower, TRowe Price, and Principal. No issues with any of them.

Lunch money? A lot of people would love that $95!

And does she not have insurance?

Thank you Paul. They were coded as M on the 1099s. The loans were excluded from the assets, both on the 5500 and on their yearly valuation. Yes, the loans were treated as loans earmarked from the participants' accounts.

As David said in so many words, look up the obituary!

Plan is a 401k PSP pooled account. The trustee and her spoiuse both took out 2 loans a piece and defaulted on both of them. One in 2022 and one in 2023. Their CPA issued the appropriate 1099s. There is a zero balance showing for their loans. They want to pay the balances off. Can they do that? Plan doc says the following: TYIA!

Ah. Good idea. This is what it says - but still not clear if ALL EEs get it or just the non-excludables.

12/31/2024 plan and it failed the ADP test. The test (current year) was split into excludables and non-excludables and the non-excludable test failed. Client wants to go with the QNEC. Basic question I know, but I have never had a client choose this route. How do I calculate the $10,000 plus QNEC? Based on compensation for the plan year? Also, does it go to all eligibles or just the people on the failed non-excudable test? TYIA!

Girls will be boys and boys will be girls It's a mixed up, muddled up, shook up world... The Kinks, 1970

Thank you, Lois!!

This is a new one for me. Discretionary PS with permitted disparity allocation formula using $22,900 as integration level. How do the Max Disparity Rates come into play, e.g., 5.7%, 5.4%, etc.? TYIA.

Agree, no RMD.

Rather than spend an entire day putting different contribution scenarios into a recordkeeping system (e.g. Relius, etc.) to get this test to pass does anyone have a spreadsheet with the testing formulas built in they can share that is set up to plug in compensation, contributions to come up with a pass/fail? TYIA!

Lol, yep!

Oy! My head hurts!