Jim Chad

Has anyone tried writing a letter since the voluntary program was started? I have a farmer that went over $250,000 in 2013. He did not file an EZ for 2013 or 2014, calendar years.

Has anyone tried writing a letter since the voluntary program was started? I have a farmer that went over $250,000 in 2013. He did not file an EZ for 2013 or 2014, calendar years.

FWIW I don't think so. Anyone else want to weigh in?

Yes, you can by putting each person in their own group in the document. Of course, you will have to pass testing.

A foundation with 11 employees, has Deferrals only to 403b plan and a flat percentage to everyone into a SEP. I am trying to figure out if they need to file a 5500. The SPD says it is set up to qualify under 404c of ERISA. Does this make it an ERISA Plan and need to file a 5500? . Also, can anyone think of anything in Particular I need to watch for with a SEP - 403b combination?

With 401(k)s, there have been many new laws that required the plan document be amended. And the whole document needs to be restated every 5 or 6 years. When was the last time an amendment or restatement was required of a SEP or SARSEP document?

FWIW I think, yes. I'm interested in what others think.

Thank you, Lou. I just wasn't sure.

Is it legal to Add safe harbor 401(k) to profit sharing mid year?

New one for me.....Someone wants to roll a Roth into her 401(k) Plan. Plan does allow Roth deferrals and in Plan conversions. Do I remember right in thinking that there is a problem with this? or something to watch out for?

Thank you, everyone.

QDROphile, Good Question! I don't know the answers. New management new ideas. I was thinking that the ADP test should prevent this from being abusive. What do you all think?

The document says annual match. totally discretionary for each tier and tiers are discretionary.

We are using Corbel's VS.. The document currently gives total flexibility on match. They want to do what was promised through August 31, 25 cents on 2% of match. On Deferrals starting September 1, they want to match 50 cents up to 5% of comp? Is this legal or are there problems with this?

FWIW I think so.

Every year we are required to send a list of assets to Participants. It is supposed to have a Diversification notice attached. My question is, "Is there a requirement to have any plan provisions on this notice?"

Does document have a fail safe provision?

FWIW I would say the document controls and the employer needs to pass out a corrected notice ASAP.

IMNTBHO A "suspension" is not quite the same as "not eligible" . I would count the whole years comp. What do others think?

401(k) Platform, so individual accounts. Doc has each person in own group. And all correspondence said "yes, you can pick and choose as long as no HCE receives anything". But here is what they have done. They decided bonuses based on profitability of that department. 2 of 5 HCE's received a contribution and 31 of 70 NHCE's received a contribution. This was paid in February and the controller did not deduct it in 2014. He plans to deduct it this year. This is going to fail testing using full years comp and one of these 2 HCE's has left. So we will fail by quite a bit. Is the correction simply to withdraw enough from the HCE's to pass 401(a) testing? Any penalties?

You are probably correct. When you say HCE's are entitled, did you look at the document? Many of my plans are written to exclude HCE's and then we fund it as a discretionary profit sharing those years they want to. of course, the drawback to this is we lose the top heavy exemption.

I am guessing the document will tell you "no", you don't match deferrals made while not eligible for SHMAC.

Neither do I.

What is the difference on 5500 SF Participant count difference between line 5a and 5(d)(1)?

Not form me. FWIW