truphao

No CG but watch out for potential ASG issues if businesses are "overlapping". Yes, employing a spouse would solve 401(a)(26).

I believe life annuity payments are exempt under 72(t). Furthermore, payment to safety public employees are explicítely exempt if over age 50. https://www.irs.gov/retirement-plans/substantially-equal-periodic-payments

my vote is 9/30

Because when it gets complicated, it's always the actuary who should know, no matter the subject . However, this one clearly falls under the purview of a CPA.

Thank you Peter, well explained.

Is the Beneficiary desigantion form required to be notarized if the beneficiary is a spouse? Is it even needed for all practical purposes? Our plan docs name spouse as a default beneficiary in the pecking order. Interested to hear thoughts and opinions.....

I believe "eligible employee" means "non-HCE" only, which would preclude the owner. Speaking form memory, would need to go back to the law.

yes, thank you - had a total balckout on this one.

S corporation, two owners - father and son, both are 50% shareholders, no other employees. Is 5500-EZ or 5500-SF required? In prior years EZ was filed but I do not think it is correct and SF is required? Anything else that I might be missing?

here is a practical suggestion (given the limitation of being "uneditable") - I would not have a problem using a PV of benefit accrual using a reasonably conservative interest rate assumption (5.50%?, may be 6.0%?) as long as there is a footnote somewhere disclosing "this is for illustration purposes only" and "the actual value will depend on future interest rates".

exclude by employment classification if possible, impose hours to get an accrual, definitaly exclude pre-effective date sevice for vesting.

Restore or not is spelled out in your Plan Document/Adoption Agreement. It is a choice in the AA.

looking for ERISA attoney specializing in public sector reference, Oregon. You can DM if you prefer. TIA.

Participation can be tested on accrued-to-date method. That might do the trick for the last year of the Plan.

I believe you have to follow the plan terms. If document says, allocate, then allocate. If document says "revert to employer" I believe you can give it all to the owner assuming the general test for the year is passed.