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Everything posted by Riley Britton
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RMD Calculations - Are Receivables Included?
Riley Britton replied to metsfan026's topic in 401(k) Plans
Belgrath - surprised they got past Cleveland. The Yankees need to get younger and their pitching isn't great. Cashman needs to go. Boone can only work with what he's given. I love Judge and agree he reminds us of Jeter. I love Rhode Island/Maine/Mass. but cannot get behind the Sox (Red or White!) -
Well there is a grace period, it's called an extension! There is no excuse for not getting it done timely baring unforseen weather issues, etc.
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RMD Calculations - Are Receivables Included?
Riley Britton replied to metsfan026's topic in 401(k) Plans
I use the exact balance of the previous year and don't include them. -
I believe you can enter one line that basically says Late deposits for multiple pay periods in 2020 or whenever. I am not an expert on this so you may want to wait for someone else to weigh in!
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You can still correct through VFCP. Have lost earnings been calculated? Just a note, you cannot use the VFCP calculator to figure lost earnings unless you are submitting through VFCP. Self-correction is less expensive and less time consuming but going through VDCP protects the plan sponsor from the DOL possibly taking any enforcement action.
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We do not include the earnings.
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I find them very easy to work with. Their website is user friendly and they have great reports. No cons.
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Partnering with TPAs
Riley Britton replied to RGAdvisor's topic in Operating a TPA or Consulting Firm
***TPAs*** -
Electronic signing Plan Documents - RK pushback?
Riley Britton replied to Kac1214's topic in 401(k) Plans
This makes me want to go print reems of paper. -
Electronic signing Plan Documents - RK pushback?
Riley Britton replied to Kac1214's topic in 401(k) Plans
I use a PDF signature which is an acutal signature and no one can tell I just pushed a button and signed. -
Electronic signing Plan Documents - RK pushback?
Riley Britton replied to Kac1214's topic in 401(k) Plans
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In our business if the fee eats up the balance then the part. gets nothing.
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401(k) true-up -- include pre-participation compensation?
Riley Britton replied to Sum_Guy's topic in 401(k) Plans
That's what I meant... -
401(k) true-up -- include pre-participation compensation?
Riley Britton replied to Sum_Guy's topic in 401(k) Plans
Not a typo. The match in your example is capped at 5%. The match is based on her deferrals, and done each payroll, so if she was hired on 1/1/2022 and was eligible to defer on 2/1/2022 then her match starts on 2/1/2022. You can't give a matching contribution to someone who is not deferring. If they do a true up she may get more. If her compensation is $50,000 and she deferred $4,000 then her total match would be capped at 5% of deferrals-$2,500. So they would true up the difference between that and what she actually received. She should talk to her company if she needs clarification. -
What's the Max PS contribution for...
Riley Britton replied to RayJJohnsonJr's topic in 401(k) Plans
I agree with Bri. An S Corp only uses W2 comp. If you run your calculator using Corporation, you will get the $6,375. -
Unable to fund SEP-IRA for undocumented employee
Riley Britton replied to Francis's topic in SEP, SARSEP and SIMPLE Plans
If she is an illegal alien how did she get hired without a SSN? -
Late Plan Contributions and DOL VFCP?
Riley Britton replied to Ananda's topic in Correction of Plan Defects
Go Brandon! -
Rehire date.
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Did the death rate skyrocket in 2021?
Riley Britton replied to RayJJohnsonJr's topic in Retirement Plans in General
My sympathies. I worked for AUL and it was a horrible place to work. Very clickish/managers who had no idea how to manage. Ugh! So glad to be gone. -
Happy Holidays to all!
Riley Britton replied to Belgarath's topic in Humor, Inspiration, Miscellaneous
Still overused and NOT necessary, plus its condescending. Who doesn't want to stay safe, lol! My stock reply will continue to be "My daredevil days are over." -
Happy Holidays to all!
Riley Britton replied to Belgarath's topic in Humor, Inspiration, Miscellaneous
Merry Christmas - and can we please add BE SAFE to the list of phrases people really need to stop saying? My response to that is "My daredevil days are over." -
Control Group merge into one company. Is this scenario ok?
Riley Britton replied to K-t-F's topic in 401(k) Plans
Yes, I agree- not your problem. Why worry about it?
