perplexedbypensions

Hi all, Am I reading the regulations correctly? A 401(k) plan can eliminate their 3% nonelective Safe Harbor contribution mid year, without showing that the company is operating at a loss, as long as the notice that was distributed in December of the prior year included language that the Safe Harbor may be suspended? Thank you!!

So, for participants over age 50, I automatically assume that the 415 limit is $61,000, and allocate a PS to bring them to this amount. Once this has been done, then I determine the amount of deferrals that were the base deferrals and the catch up deferrals. I always thought that if deferrals were over $18,500, that base needed to be filled first, and I could not reduce the base, and increase the amount that was considered catch up. I didn't realize that I could do this, as I thought I needed to take the base 415 limit then add the actual deferrals over $18,500 to come up with an adjusted 415 limit. Thank you!

Please forgive this basic question, but I feel as if my brain has turned to mush ( I wish myself good luck making it until March 15th!!). If an employee does not fully utilize the 401(k) catch up provisions, and defers a total of $22,500, then the 415 limit would be $55,000 plus $4,000 for a total of $59,000? I just want to be sure that I should not be using the limit of $61,000. I feel no since if a participant over age 50 does not defer at all is limited to $55,000, but feel the need to check. Thank you to all those to whom this is second nature!!!

Hi everyone! On the annual information questionnaire we send to clients, we ask if their company shares the services of any employee with any other business entity. Their bookkeeper has responded that he works for 3 other companies, 2 that pay him as a W2 employee, and one as an independent contractor. The owners of the company do not have any ownership in the other businesses in which this employee works. My question is - do I care? Would I only have an issue if any of these companies had common ownership? Is there anything else that I should be asking? Thank you very much!!!

No specific concerns, more of a general inquiry towards user friendliness comparison of both systems, and preferences from those who have used both systems. I have used their document system and did not find it easy. We are thinking of changing due to $$ considerations.

Hello out there, Our TPA firm is considering switching from Datair's PE WIN admin software to FT William's admin software. We do not use document software from either Datair or FT Williams and will not be our doc system. Has anyone made this switch that could offer opinions on whether or not they are happy with the switch, ease of use between the two platforms, support, preferences, etc. We are not familiar with FT Williams so do not know if we would be trading for something more difficult to learn and use than Datair. Thank you in advance for any input offered.