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Jeff Hartmann

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Everything posted by Jeff Hartmann

  1. <<The goal is to maximize the owner’s contribution. In order to do so, the terminated eligible participants require an allocation to pass non-discrimination. >> Though I am not a Testing expert, I question whether you can use current year allocations (non-vested) that are fully forfeited in the same testing year, in order to "pass non-discrimination" for that same year. In our company's testing, we ignore such allocations. ..... Jeff
  2. If properly drafted, the Standing Election should be sufficient to preclude any need for a new election. Our Standing Election forms say, in part: "The Plan Sponsor is hereby providing a Standing Election to the plan’s Enrolled Actuary .......... to apply all or a portion of the plan’s funding balances to offset the minimum required contribution for any plan year under Code section 430(a), to the extent needed to avoid an unpaid minimum required contribution .......... " Such an election would apply exactly 100k of the prefunding balance in your example. ...... Jeff
  3. To answer your questions ......... My understanding is that 1. ALL employees are included. The 2nd bullet point above seems to say "ignore the Union employee exclusion" in 410(b)(3). i.e. count them 2. There is no criteria considering an employee's hours ....... count them on 1/1/2019 regardless of Hours. ..... Jeff
  4. Our Benefit Election forms have a section called COURT ORDERS where one of two choices ("are" or "are not") needs to be checked: [ ] I hereby certify that my benefits [are / are not] subject to a court order dividing benefits as a result of a dissolution of marriage. (These are actually 2 separate lines on the Election Form) Assuming the participant checked the "are" box, wouldn't that stop you from further processing of the benefit request? ....... i.e. go back to the participant to say "Get a QDRO, and send it to the Plan." In absence of getting the QDRO subsequently, I leave it to the attorneys to answer. .... Jeff
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