Jump to content

Search the Community

Showing results for tags 'employee benefit'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums (Message Boards)

  • Retirement Plans
    • 401(k) Plans
    • Defined Benefit Plans, Including Cash Balance
    • Retirement Plans in General
    • Distributions and Loans, Other than QDROs
    • IRAs and Roth IRAs
    • 403(b) Plans, Accounts or Annuities
    • Cross-Tested Plans
    • Correction of Plan Defects
    • SEP, SARSEP and SIMPLE Plans
    • Qualified Domestic Relations Orders (QDROs)
    • Employee Stock Ownership Plans (ESOPs)
    • Plan Terminations
    • Governmental Plans
    • Plan Document Amendments
    • 457 Plans
    • Investment Issues (Including Self-Directed)
    • Operating a TPA or Consulting Firm
    • Estate Planning Aspects of IRAs and Retirement Plans
    • Continuing Professional Education
    • ERPA (Enrolled Retirement Plan Agent)
  • Issues Spanning Multiple Types of Plans
    • Form 5500
    • Communication and Disclosure to Participants
    • Litigation and Claims
    • Church Plans
    • Securities Law Aspects of Employee Benefit Plans
    • Mergers and Acquisitions
    • Multiemployer Plans
    • International, Expat Benefits
    • Miscellaneous Kinds of Benefits
  • Health & Welfare Plans
    • Cafeteria Plans
    • Health Plans (Including ACA, COBRA, HIPAA)
    • Health Savings Accounts (HSAs)
    • VEBAs
    • Other Kinds of Welfare Benefit Plans
  • Executive Comp; Section 409A
    • 409A Issues
    • Nonqualified Deferred Compensation
  • Miscellany: Other Than Employee Benefits
    • Using the Message Boards (a.k.a. Forums)
    • Humor, Inspiration, Miscellaneous
    • Computers and Other Technology
  • User Groups (Unofficial)
    • ftwilliam.com
    • Relius Administration

Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


AIM


MSN


Website URL


ICQ


Yahoo


Jabber


Skype


Interests

Found 2 results

  1. I am an employee of a small law firm. I am "of counsel". 4 years ago, my employer complained that he had to make a Safe Harbor payment into the Profit Sharing Plan for me in the amount of 3% of my compensation. Since it was not addressed in my employment agreement, he pressured me to reimburse the 3% payment. Each year since I have done so, with $500 deducted from my pre-tax compensation calculation ever two weeks. To my knowledge, no one else at the firm has been required to do so but nearly all others are salaried employees. I am starting to think this practice violates the Safe Harbor rule and is not legal. That is, it seems this does qualify as a Safe Harbor contribution if the employer is reimbursed for the entire payment. Am I right? If so, what is the proper way to address it?
  2. Group: Facts/assumptions as follows. Client owns an S-Corp and sets up an S-ESOP with 20 eligible participants/employees. Value of S-ESOP stock is $20k when sold to ESOP Trust and loan is established to be paid off within 5 years. 100k shares outstanding. Assume 6 yr step vesting. ESOP Loan paid off by yr 3. TPA informs me that stock is allocated proportionately to payoff of ESOP loan. By yr 4 all of the 100k stock has already been allocated to the above-referenced 20 participants. Q: What happens when 3 new employees begin work in yr 4 and begin to vest by yr 6? Q: How do you properly allocate shares/benefit to new employees? Is TPA correct? I'm informed by the TPA that the only way to provide a benefit to the 3 new employees is if - and when - the original 20 ee's retire/leave and then forfeit their allocated stock shares. At such time those retired shares (proper terminology?) can be allocated to the 3 new ee's. Can Plan Sponsor issue additional stock for allocation? or is the TPA correct? I can't seem to find guidance on this matter. Thoughts, comments and resources would be much appreciated. Thank you!
×
×
  • Create New...