Guest Frank Jackson Posted July 21, 2000 Posted July 21, 2000 How should the insurance premiums be reported on schedule A? My service provider is reporting them as allocated. I think they should be unallocated. Is it different for DB vs DC plans? Thanks for the help. Any citations would also help.
Guest Emiliano Posted July 28, 2000 Posted July 28, 2000 29 CFR 2520.104-44 says that a contract is allocated only if: - the provider guarantees to provide a retirement benefit of a specified amount - the specified amount must be fixed without adjustment for fluctuations in the market value of any underlying assets - and each participant must have a legal right to the amount enforceable directly agains the insurance company (not the plan) Does this help?
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