nerd-party-administrator

Does anyone know if DFVCP filling fees can be paid to the DOL from plan assets (ideally, forfeitures), or do they have to be paid directly by the plan sponsor?

2020 plan year is top heavy. Client is discretionary SHNE but cannot afford to fund SHNE or the top heavy minimum. Can the key employees withdraw all of their 2020 contributions (with earnings) in order to bypass the top heavy minimum contribution? I'm thinking this is a big no-no, but would like some proof. If any responses could have some regs pasted in, that would be fantastic.

Is it okay for one employees deferral to be processed outside of regular payroll (appx. a week after everyone else's)? This was an HCE who decided to max out their deferrals at the beginning of 2020 for the 2019 plan year.

Two questions: 1. Does the 100k limit increase come with any provisions for extended loan repayments, or do they have to abide by the 5 year rule? 2. Can a qualified individual take a new loan and suspend payments immediately until 1/1/2021, or do the suspension rules only apply to outstanding loans as of 3/27/2020. Just a question of whether these rules only apply to already existing loans or new loans too...

Facts: Clients company is acquired via stock sale, but TPA wasn't made aware until two months later. Therefore, there were no actions taken to terminate the plan. Question: Since they can't really terminate the plan retroactively, what can be done at this point?

Facts: - 401(k) PS plan - company is a S Corp - The plans definition of comp is W-2 (wages, tips and other compensation on form w-2) - CEO of the company receives 1099 comp and is treated as an outside consultant. - The above referenced CEO does not participate in the plan. Question: With the above stated facts, I would think that the CEO does not need to be included in the testing since he did not receive W-2 comp from the company, but I don't feel comfortable making that assumption.

It's my understanding that a plan that fails ADP/ACP testing using the prior-year testing method cannot allocate QNECs as a corrective measure, but is there any way around this? Can an SCP amendment be done to retroactively change the testing method to current-year so that the plan sponsor can do a QNEC?

Facts: - SH plan. - HCE had deferrals deducted and never deposited to the plan. - It's march of the following plan year and the deposit has still not been made. Is this just a matter of funding with missed earnings or would greater compliance measures need to be taken?

Yes, that is right. Thank you!

I have a client that included prior term and re-hire dates on the 2019 census. Should the prior year term and re-hire dates be taken off the 2019 census since they were already included on prior year census files? I would think that they could be taken off, but I'm not entirely sure.

My kind of answer. Thank you!

Plan document states that safe harbor matching contributions (SHMAT) are determined/allocated on a plan year basis. Client makes SHMAT contributions payroll by payroll throughout the year. At the end of the year, true-up contributions are needed. My question is: do the true-up contributions need to be adjusted for earnings?