Guest Sus95 Posted February 11, 2008 Posted February 11, 2008 Has anyone worked on the calculation of the AFTAP for an EOY val in accordance with Notice 2008-21? It appears you are allowed to use results from 2006 but are limited in adding back 2006 contributions. The Notice talks about a 90%/110% calculation to determine that limitation, but it seems a bit confusing. Any input would be appreciated.
zimbo Posted February 12, 2008 Posted February 12, 2008 I believe that this limit refers to the method of plan asset valuation. So, if you are using fair market value, then this limit should not apply. If you are using some sort of smoothing method, then you need to apply this 90%/110% calculation.
John Feldt ERPA CPC QPA Posted February 12, 2008 Posted February 12, 2008 I agree and I think it's fun to say "zimbo"
AndyH Posted February 13, 2008 Posted February 13, 2008 Hall of Fame candidate?? http://benefitslink.com/boards/index.php?showtopic=23084
ak2ary Posted February 13, 2008 Posted February 13, 2008 wow its even more fun to say zimbo when its not capitalized...thanks guys!
zimbo Posted February 14, 2008 Posted February 14, 2008 As the author of Zimbo, I am open to offers for naming rights....stadiums, concert halls and the like!!
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