Jim Chad

I posted this on a Saturday. So I am bringing it up again. Can anyone give me an idea of the cost?

GMK are you expecting further guidance before next spring?

Yes, certain family members owning 10% could make it a controlled group. And if a business owns part of the other 30% and this person owns any part of the other company, get and ERISA attorney. IMNTBHO

Since time is running out and I just did this, I am going to answer this. I want to offer the Corbel adoption agreement style Volume Submitter to my clients again , next cycle (2014-2016). Also, I want to be able to adopt for my clients all required amendments. This way, I don't have to worry about EVERY one of my clients signing on time. To do this, I went on line, filled in some form and paid $900 from my credit card. This is the IRS filing fee for 3 docs, Money Purchase Pension, Profit Sharing and 401(k). Corbel did not charge me, because I am already using their docs. Next, I got an email with a power of attorney and some other things that need to be signed and sent back by 10-31-11. When you fax the signed forms back, be careful to check that they went through. Somewhere I got the wrong number. When I called it to test it, I got a voice mail. So I had to call and get another fax number.

I want to bring this back up. The fee is listed on the application. Is updating this fee enough for a while?

Does anyone think it would work to notify the participant of the fees charged when they start the paperwork for a loan or in-service withdrawal?

I have been working on this every weekend and I am starting to get a handle on it. As with any huge problem, the hard part is breaking it into pieces. I think the website is going to be the biggest problem. But I don't know how big. For example one plan has 6 funds at one mutual fund family. This is a good deal because it is big enough that there are no front loads on class A shares. but they have the really low annual expenses of class A shares. We have been told we cannot just refer them to fidelity.com and call it good. The employer has a website of course. If I give the employer's website company a copy of the investment information, maybe he can put it on a page for employees. Can anyone give me an idea of what this would cost the employer each quarter?

Thanks, Tom. In the old days, when we received paper copies, I actually read instructions. LOL

8955 SSA What is column for check box after last name? Can anyone tell me anything?

I just talked to Relius support and they said the IRS has the testing part of the FIRE system turned off until November. so they are planning on releasing the version we want in January 2012. It will be the 2012 form 8955 SSA.

K2retire, if the "normal" in the document is full year comp, and you can't find an exception, then I think you have to use full year comp. This is my guess as to what the doc says and my never to be humble opinion. LOL

Doombuggy, please let us know how this works. Thanks

I have about 20 plans that are the old quarterly valuation plans. The Participants have the choice of 5 to 10 funds in the same family. They prefer this to the daily val platforms because of the lower cost. In the real world can anyone afford to set up the website that is going to be required under the new disclosure regs. can anyone give me an estimate of what it would cost to add this to an employer's website? Any ideas about this would be very welcome.

I have this same question, today.

What is the TCC code and the FIRE system? This sounds really interesting.

Just bringing it back to life

Maybe it would be better to leave it out of the "kit" and whenever a kit is given out, paperclip the last disclosure to it.

I would love to see two new sections. What labeled something like "Disclosures Covered Service Providers under 408(b)(2) and the other" Participant Fee disclosures under 404(a) I am trying to put down on paper how to implement these and it ain't easy!

Peter, I like your idea. What does everyone think? Would this be a legal replacement for the form W-4P? Also, we are back to HR concerns about giving people these choices. People don't know what to do and waste a lot of time asking HR people questions to help them make the decision. They are smart enough to refuse to give tax advise, but still a lot of their time is wasted.

If the distribution, QDRO, and loan fees are the only fees charged to Participant, am I correct in thinking that I should: 1. Send that page of the SPD annually? 2. Send statement showing other fees actually charged quarterly? 3. When account is closed, the Participant does not currently get a "final" statement showing an ending balance = 0. Do I have to start sending this "zero balance" statement showing fee?

FWIW I think it is required. but if it is part of the "enrollment kit", does that mean the whole kit becomes obsolete every quarter? What do you all think?

FWIW I think it is 1-1-12 if the doc says you switch to Plan year. but I am not sure. What do y'all think?

I can't remember where, but I think I have read that if this is the settlement of a complaint, it can be deductible and not a contribution. Can anyone add to this?

You are referring to the 402(g) limit and it is one limit per person per calendar year. His limit is $16,500 unless he is eligible for catch-up

Thank you, Bill. That is a great idea. I never thought to ask the CPA.