Tom Poje

Once and a while I look. Not much rain, no flooding, no power outage guess like my retirement - no money, no fun. no nothing guess my humor hasn't changed either. Thanks for thinking of me - have a blessed day all

for some reason I had an inspiration to look at the Links board Shakespearean Lady MacDuff remembers me well my version was Yesterday, 65 it seemed so far away Now it’s come today it’s here to stay I wish I had a 4-0-1 k Suddenly, I’ve not half the cash I used to see The bill collectors shadow me What do you think will become of me? My savings are so low I don’t know just where I’ll stay I did something wrong, should have saved and put away 401ks - oh it’s such an easy way to save Now I need a place to hide away And its to late for a 4-0-1 k

Life on the other side - my humble opinion God was kind enough to erase almost all pension knowledge from my mind. Had quit work a couple years ago to take care of mom (she died a few months ago at age 96) Might not have a lot of cash, but enough to get by, I get to daily Mass (except for a few months of covid closure) and wouldn't have it any other way. It is simply so fantastic to be able to get up and pray with others, play the psaltery once and a while, etc. Wouldn't trade it for anything in the world.

Because I posted Jokes like this...... Most people don't know that back in 1912, Hellmann's mayonnaise was manufactured in England. In fact, the Titanic was carrying 12,000 jars of the condiment scheduled for delivery in Vera Cruz, Mexico, which was to be the next port of call for the great ship after its stop in New York. This would have been the largest single shipment of mayonnaise ever delivered to Mexico. But as we know, the great ship did not make it to New York. The ship hit an iceberg and sank, and the cargo was forever lost. The people of Mexico, who were crazy about mayonnaise, and were eagerly awaiting its delivery, were disconsolate at the loss. Their anguish was so great, that they declared a National Day of Mourning, which they still observe to this day. The National Day of Mourning occurs each year on May 5th and is known, of course, as Sinko de Mayo.

As I recall (but since I retired practically everything about pensions has vanished from the mind, thank goodness, so I may be fuzzy on this), if everyone is in their own group the IRS considers that as 'by name'. Therefore, to pass coverage you can only use the ratio % test. While that shouldn't be a problem, keep it in mind.

I was going to say if you can't remember your 25th anniversary then "BAD JOB WALT. BAD JOB" the best part of not having to go to work, no adp tests, etc has been getting to church in the morning, but now with the virus even that is no longer available. I thought it would take awhile to forget the pension stuff, but no, I don't even think about it. Except I did pencil it in to remember the 25th, at least give me that much credit. In other words, I no longer have the pension stuff and Dave's not here man, Dave's not here

At least, according to my old coffee Mug, April 20th is the official day. Makes a good excuse for a former 'links' contributor to finally post a meaningful message.

hardly had a drop of rain in Jacksonville. Power went out twice for a total of less than 15 seconds so we were very blessed here

thoughts appreciated. I'm in Jacksonville, which the joke is "oh, southern Georgia" The latest projection is West Palm Beach takes a direct hit, that is 280 miles away, quite a distance from where I am. so looks like I escape. But I feel for those south of here and those in the Bermudas

well, getting ready to unplug the office computer a few days shy of 62, hopefully all the $ I have pinched and saved will last until 70. I live rather frugal, so I think I can manage. as for me, truly looking forward to not having to rush off to work and having that burden. when mom wakes and is ready to go is a lot different than a set work schedule. And I have more time for church, as I said earlier, some baking, and I bought a Psaltery a few years ago and looking forward to learning that a lot better. what a marvelous instrument for a quiet soul like mine. my special thanks to Dave Baker for the web site and the opportunity to share. we shall see if somewhere own the road I actually take the trouble to share how things are going.

just to make sure : you indicated "the INTENTION in the design WAS to have each participant in his own group." hopefully the document is written with each person in their own group. there is a difference between 'intention', 'was' and actual fact.

terminees with 500 hours are included in nondiscrim testing. actives no matter how many hours. if the person in question never worked 1000 hours then they are otherwise excludables.

A plan is top heavy free if no other contributions besides deferral and safe harbor Since the plan has a ps contribution, then the plan needs to meet the top heavy while match can apply to satisfy top heavy, if the participant is terminate they would not get top heavy. Maybe what you read somewhere refers to the 3% shnec - it can not be integrated - e.g. 3% base and 3% integrated

there is now something definite to 'shove' under the participant's nose about the issue. I guess also to the asset house - the uncashed check, since taxes have been paid, would also have to go into an after tax account. that should be fun. I suppose for the plan admin/record keeper as well.

I guess the process / assumption is as follows distribution issued, 20% withholding. so a 1099 exists. so the IRS 'expects' to see the distribution on the tax form, whether or not the person cashes the check or not. interesting distribution check not cashed.pdf

To the springerle lovers ("only" have around 30 or so different molds I have gotten over the years, most generally religious theme) I forget most people have never seen them before so Iit is an extra treat the first time when they get one. (not my pictures, but I have done these) instead of Anise for the flavoring - cocoa powder for chocolate springerle using Jello for color and flavor last year I made green wreaths for Advent (though this recipe is actually a butter cookie - but I promise myself I will try it with the springerle recipe)

Mom is 94 (reasonable health) but still needs my time more than what this job would ever permit. Plus now I will be get to Mass daily, without worrying about the time constraints and work load this job requires, a big plus for me. And time to bake more cookies and stuff to giveaway. My favorite being the springerle. Have yet to find anyone to turn down one of those. My deepest appreciation for those to have helped me learn along the way, my apologies to those I may have inadvertently offended by any comments I may have made. In the cartoon Futurama, the character Fry made the comment "You remember Star Trek, 79 episodes, maybe 30 good ones". I figure that might be about how many really good and worthwhile comments I posted. Dave Baker is going to be glad because he won't have to listed to complaints about the bad jokes, humorless songs and awful puns I occasionally posted. My favorite takeaways after all these years: I know a few have said I'm a bit crazy for giving away stuff for free, but has been a big highlight for me. Hopefully the few Relius reports I have posted have proved useful and a time saver to some, along with the excel file for projecting the new limits. Someone else can worry about updating that every year. Ha. Over the years it has been kind of neat to see postings on the internet about projected limits. And I had the nicest comment years ago from FT William about the SSA report to pull the data from Relius into their system. The best advice I can provide, something I have always tried to keep in mind with my dealing with others: God has a benefit plan that is out of this world, so store up for yourselves treasures in heaven, not the things here on earth.

I get 104.8297 for 7% up84 age 65 and 108.3735 for 6.5% though you could not use those in a DC situation

years ago at one ASPPA conference the following was voiced in the old days (when the 25% deduction included deferrals, then you would include comp of someone who could defer even if they didn't) now, since the 25% deduction does not include deferrals, then you would only include comp if the person actually received ps or match (if I recall correctly)

the latest and greatest figures based on today's CPI release this is a revised spreadsheet. added 2 new columns which might never be used. 1. indexed limit for minimum distribution which was planned last year but never passed 2. indexed limit for catch up at age 60 which was part of the secure act if that ever gets passed of course, the year I have it indexed to might have to get adjusted someday indexed limits and soc sec.xlsx

I'd say one difference is that if you have each person in their own group, the IRS has indicated that is the same effect as 'by name', so for purposes of coverage you lose the avg ben test. (and maybe someone was trying to plan ahead just in case the IRS would make the same rule apply to nondiscrim testing as well. so this sounds like an attempt to beat the system, e.g. I have 3 groups 5%, 10% and 15%, so its not by name. I just pick and choose each year who is in what group. But this makes it discretionary each year and fails the definitely determinable rule.

but you can't "the allocation to each group is X and we will determine who is in what group when we make the contribution." because that violates Criteria may not be subject to employer discretion, which would cause the plan to fail to have a definite allocation formula.

the LRM from a few years ago (2017) indicated (emphasis mine) Sample Adoption Agreement Language: ( ) Employer contributions will be allocated under the following method (select one) A. ( ) Participant Group Allocation Each eligible employee is assigned to a participant allocation group, as follows: (Describe the objective criteria for determining the make-up of each participant allocation group. Criteria may not be subject to employer discretion, which would cause the plan to fail to have a definite allocation formula. .. so if the person is in a group that is to be allocated a set % I don't see how you can give a smaller % if you follow the terms of the document. and I don't see how you could toss him into a group receiving a smaller %, because now you don't have a definite allocation formula.

I'd be cautious https://www.irs.gov/pub/irs-tege/epchd304.pdf page 3-25 while it is 'reasonable' to exclude bonuses, there is nothing that says you could exclude only a portion of bonuses. and later it goes on to say 'not reasonable' would be 50% of the 415 limit, so it could be in the govt eyes a % of bonus would not be reasonable either, especially now since you are intentionally doing it to 'pass the 3% de minimis rule' - creating a definition that seems to favor HCEs which is a violation of the rules. but then I am a nut case, so take the comments with a grain of salt.

1.414(v)-1(c)(1) catch up contribution limit ... deferrals are treated as catch up contributions...within a taxable year..only to the extent such deferrals do not exceed the catch up contribution limit...reduced by deferrals previously treated as catch up contributions for the taxable year since you indicated the plan year was 1/1- , then it doesn't appear the person has had prior catch up for the taxable year, so you should be ok. there is no pro-rata that I am aware of (just like there is no pro-rata for elective deferrals in a short plan year)