A reduction in QNECs is required under EPCRS when a participant is not given the opportunity to defer. Does this apply when an election form is misplaced?

[Advert.]

Our TAG experts have on average over 25 years of experience so you get your questions answered -- quickly. With TAG you also get access to a fully searchable database of over 4000 FAQs, quick reference tools and charts, and daily news. Learn more.

In 2017 (more than a little more than 60 days ago, I checked) a participant elected to roll over a fairly substantial pre-tax 401(k) directly to a Roth IRA. Despite making this election and agreeing he had read the Special Tax Notice that indicates if one elects to roll over to a Roth IRA this is taxable (though not subject to the 10% penalty), participant now claims he had no idea it would be taxable and had wanted it to go into a pre-tax IRA. Is there any recharaterization option available to the participant? I believe the transaction can't be unwound by returning the funds to the plan and re-issuing as rollover to traditional IRA, but on the 1-in-a-1000 chance I'm missing something, I thought I'd ask here.

Is there a deposit deadline for employer contributions to a governmental 401(a) plan? A governmental 403(b) plan?

The employer (a non-profit religious organization) pays 100% of the health & dental insurance premiums for the FT employees, and offers coverage for spouses & dependents but at the employee's expense. Part-time employees must pay 25% to 50% of their health and dental insurance premiums, depending on how many hours they work. The employer offers a pre-tax Flexible Spending account for paying eligible medical, dental, eyeglasses and day care expenses. Insurance premiums aren't eligible. A consultant says the employer can't have a Section 125 plan because the employer pays 100% of the FT employees' health and dental premiums. Another consultant says the employer is indeed eligible to have a Section 125 plan, because some employees pay for spouse/dependent insurance premiums and most employees participate in the Flex plan. Who wins this shoot-out?

I am an associate for an RIA, in our Retirement Plan Division. I've spent the past year "learning by listening." All my energy after work has focused on finishing up the CFA. I recently became a charterholder, and I have the AIF designation. I'm extremely confident of my understanding of markets and investments. I'll be working as a 3(38) Investment Manager to plans. Where I'm a bit weak is the ERISA rules, how to optimally design plans for our clients, how rules affect certain things, etc. Where should I focus my energies in order to cover those bases? Should I obtaining the QKA designation? Or would the CPFA designation better serve me? Something else?

Can a QDRO be changed?

Owner and spouse max out on pre-tax deferrals. They fund the basic safe harbor match. Owner exceeds 401(a)(17); spouse makes $48,000. They're considering an amendment to the plan to add after-tax deferrals. Owner sees a Wall Street Journal article, and is attracted to the idea of contributiong up to $73,000 per couple. They don't make a profit sharing contribution. Does the after-tax contribution negate the benefit?