Cynchbeast Posted August 25, 2017 Posted August 25, 2017 We have a client who wants to rollover some SEP IRA annuities into their DB plan and are asking if these accounts can receive new or existing DB monies. Technically, I see no problem; however are there any rights or features to either type of money they would be giving up by co-mingling in one investment?
david rigby Posted August 25, 2017 Posted August 25, 2017 Don't do it, at least not into a DB plan. K2retire 1 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.
Mike Preston Posted August 25, 2017 Posted August 25, 2017 Why not?!? I have lots of DB plans with rollovers. Just fire up an excel spreadsheet to keep track of the separate pools.
david rigby Posted August 25, 2017 Posted August 25, 2017 OK, I ask to be instructed. How is it defined in the plan? 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.
Mike Preston Posted August 25, 2017 Posted August 25, 2017 Most of the time (which means every time I've looked) they are nothing more than an insurance contract as a funding vehicle. Very much like a GIC, but without the trappings of multiple participants.
david rigby Posted August 28, 2017 Posted August 28, 2017 OK, I get it. Some circumstances make it worthwhile. Thnx. 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.
Buffys Redrum Posted August 28, 2017 Posted August 28, 2017 Make sure the rollover is permitted by the DB Plan document (this may go without saying - but may simplify everything if the document says "no rollovers").
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