carrots Posted July 30, 2009 Posted July 30, 2009 Can I, as the Enrolled Actuary, choose to keep the prefunding balance at $0, simply by entering $0 in line 11d of the Schedule SB? Thus avoiding the need for a sponsor election.
Guest AP914 Posted July 30, 2009 Posted July 30, 2009 Can I, as the Enrolled Actuary, choose to keep the prefunding balance at $0, simply by entering $0 in line 11d of the Schedule SB? Thus avoiding the need for a sponsor election. It was my understanding that the plan sponsor must elect how much of the excess contributions get applied to the prefunding balance. If the plan sponsor doesn't elect, I would think $0 would be appropriate.
david rigby Posted July 30, 2009 Posted July 30, 2009 Proposed regs use such phrases as "... the plan sponsor may elect..." I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
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