BLM

Doesn't

Deceased participant has 4 beneficiaries ... 25% each. Should all 4 claims be processed at same time or can they be done as received, each receiving 25% of the account as of the date of processing?

Forfeitures at end of year = $99.13 (WOW!) Could be used for plan expenses or allocated as Match or PS. - (no QNEC allowed) Issues: 1) There are no plan expenses 2) Match: No prior match for ACP. Match allocation does not exclude HCEs therefore ACP would fail and HCE refund of <$6 would occur (fee for refund is $100). 3) PS: 2 participants who otherwise do not have accounts would each receive an allocation of $2 Any suggestions for how to otherwise dispose of the forfeitures?

Prior year tested plan failed ADP and corrective refunds to HCEs were issued timely. It was then discovered during form 5500 financial audit processes that the employer neglected to apply deferral elections to year end bonus. Employer will make 50% QNEC (plus earnings) to those affected for missed deferrals. Some of those affected are HCEs. Can I rerun the ADP test excluding altogether the HCEs whose elections were not properly implemented? I still get failing results - with refund amounts less than those actually issued.

Qualified DC Plan, fully vested account balance - no beneficiary form on file Former participant was married at time of death and died 15 days before 1st RMD was due to be taken. A letter regarding benefit from plan, along with distribution forms, has been sent by Plan Sponsor via certified mail and a return receipt has been received 2ce! The SSN of the surviving spouse is unknown. How can the account balance be disposed of? As a missing participant - to forfeitures until/if a claim is made? other?

Plan Year End = 12/31/16 Fiscal year = 08/01 to 07/31 What is the latest date a C-Corporation can fund Employer Contributions for the 2016 Plan Year?

To permissibly disaggregate for testing - must the Maximum statutory age and service conditions be used (Age 21 and 1 Year of 1000 hours service) - or can I draw the cut off somewhere short of, but not in excess of, the maximum statutory conditions? for example ... can I draw the line and test everyone only under 1 year of service (based on DOH) without regard to 1000 hours? can I draw the line and test separately everyone who has only under 3 months of service? can I draw the line and test separately only everyone under age 19? or is the only parameter that can be used is to test separately everyone by using the maximum statutory age and service conditions?

IS THIS ALLOWABLE? An on-going calendar year 401k plan (no employer contributions) with ordinary eligibility = Age 21 and 1 YOS with Quarterly Entry Dates - Plan waived the eligibility requirements as follows: If you are an employee on 11/1 (regardless of age or service) you may enter the plan and begin 401k deferrals as of 11/6. Your opportunity to begin 401k deferrals expires on 12/6. If you have not signed up to begin 401k deferrals by 12/6, and you have otherwise not satisfied the plan's eligibility requirements, you must then wait until you satisfy the ordinary eligibility requirements and may begin 401k deferrals on the entry date coincident/next following satisfaction of the eligibility requirements. If you elect to begin 401k deferrals during this special/open period you will be considered an eligible employee and a participant in the plan. If you do not elect to begin 401k deferrals during this special/open period you will not be considered eligible and will not become a participant until you satisfy the eligibility requirements.

Employer allowed an HCE (owner's son) to begin deferrals sooner than the employee met the eligibility requirements and reached an entry date. Plan is Safe Harbor Match and such matching contributions were provided. A retroactive corrective amendment seems available if the affected employees are predominately NHCEs. However in this this case the only affected employee is HCE. How to correct?

This is for an existing 401(k) plan that has an eligibility requirement of 1 YOS with Quarterly Entry. In November they opened enrollment and waived the 1 YOS eligibility requirement saying - if you are currently an employee, even if you do not have 1 YOS, you can begin deferrals as long you sign up to do so in the next 30 days. If you do not sign up to start deferrals by the 30 day deadline then you must wait until you have 1 YOS and then you can begin deferrals on an ordinary quarterly entry date. Effective, only those who chose to defer early (during this open period) are being considered as eligible, while those who chose not to defer are being considered ineligible. Is this acceptable - or would everyone who was an employee as of the open enrollment period be considered eligible?

---------------------------- Background Info: ---------------------------- Employees are notified that, if you are an employee on a specific date - the plan will waive it's ordinary eligibilty requirements and you may begin deferring immediately. If you do not elect to defer by a 'certain date' (ie: within 30 days) you will be subject to the plan's ordinary eligibility requirements and must wait until you satisfy eligibility and then you will enter on the plan's next entry date and can begin deferrals then. ---------------------------- Specific Question: ---------------------------- Can a plan waive 401k eligibility requirements temporarily, and for those who do not elect to defer require they wait until they do satisfy eligibility?