Ajillity

Thank you. Agree entry date is November 2022.

Service spanning would not apply. Plan does not use elapsed time. Eligibility Service Computation Rules a.  Eligibility Computation Period switches to Plan Year. b. Select hours equivalency for eligibility purposes: i.  None

Plan entry requirements are 6 consecutive months of 83.33 hours per month. Monthly entry. Plan is not using 1 year hold out. Is using Rule of parity. After initial eligibility computation period, computation period reverts to the plan year. Plan uses counting of hours method. Employee(not ever a participant) DOH - May 2019 Term - Nov 2019 Rehire - May 2021 Term - October 2021 Rehire - April 2022 2019, 2020 and 2021 hours less than 500. Employee never met the 83.33 hours per month requirement. But worked over 1000 hours in 2022. Did work 6 consecutive months of 83.33 hours from April 2022 to December 2022. When is the employee eligible? After 2019, does their eligibility computation period revert to the plan year? Do they enter 1-1-23 after having 1000 hours in 2022. Or do they start new April 2022 and enter November 1, 2022 after meeting the 6 consecutive month/hours requirement?

We are getting no response time to tickets and at that, now I can't even submit a ticket. Calling the 800 number leads to infinite hold times with ultimately being disconnected from the system. I was on the new portal today and almost anything I clicked on was a dead end. So if you need support and can't create a ticket, what are you to do? I had previously been able to create a ticket, but I had no Relius products to choose from. They told me at the Portal support that was ok, just make a ticket. Here I am 2 months later with still an open ticket. I finally on a whim emailed an account rep I got from the Sungard territories map. He is to call me tomorrow.

I actually ran this by a document vendor who did not prepare the document in question. NRA totally different situation because of the anniversary language. Plan in question does not have 5th anniversary for NRA. Regarding the 5 years of participation, they were only speaking for their documents, which are much clearer in the BPD regarding the definition of participation. The plan in question is not elapsed time so I'm going with mming's answer.

How is 5 years of participation figured if a plan restricts in-service distribution to age 59 1/2 and 5 years of participation? What little information I could find seems to indicate using elapsed time, 60 months. Is it permissible to count 5 years for someone with a 7-1-15 entry date as 2015, 2016, 2017, 2018 and 2019 to consider this 5 years of participation? The plan document says 5 years, not 60 months participation.

Need to file 5500s back to 2002 for a small plan. Have a few questions. Will all the filings appear on EFAST2 for public viewing? If so, how should the Schedule P be handled since it requires a signature and will be attached as a PDF? Should it be treated as an SB an only have the fiduciary's initials?

Thank you all for your replies. I did send the recordkeeper the DOL memo previously, but like RatherBeGolfing, said, I feel they are forcing us to use their determination. Yet their determination is wrong and no one has yet to show me the math behind their calculation that the participant only has $40 available for a new loan. I am still waiting for an explanation, but I really feel as if the answer will be the system says $40, so it must be right.

A recordkeeper has me so confused over the calculation of the maximum loan amount. I do not agree with their methodology and would like some clarification. 1. Does the $50,000 loan limit only apply in the case where the participant has a vested account balance over $100,000? 2. What is considered the highest outstanding balance of loans during the last 1 year period? Would that be the one day in a 365 period in which the participant had their highest loan balance or if they had 3 loans in a one year period are you looking at the highest balance of each loan in that 1 year period? Participant has 2 outstanding loans as of 11-05-17, say loan 1 and 2. The balance of both at that point in time was $32,000. In April 2018, participant pays off loan 1 and take another loan (3) for $14,000. Current vested account balance including the loans is $72,000. Current outstanding loan balance of loan 1 and 3 is $29,000. The recordkeeper is saying that all 3 loans should be taken into consideration in determining the highest outstanding balance by adding the balance of loans 1 and 2 from a year ago and the loan from April, so $32,000+$14,000 = $46,000 Participant wants to refinance loan 3 as the plan only permits the participant to have 2 loans outstanding at a time. We are arguing over what is available, if any, for the participant to get as additional loan funds.