"Taking over a case that has two plans: a Profit Sharing and a fully funded Defined Benefit Plan. Is there any issue with terminating the DB Plan, rolling it into an IRA and then opening a new Cash Balance Plan?"

[Sponsored]

Hear from a Dept of Homeland Security CISA liaison and other top cyber experts. Educate retirement plan sponsors on how to better secure plans and employees from attacks, evaluate vendors administering employee benefits and much more. Free to attend.

"We sent a large group of 5558s to the IRS via Fed Ex on July 27th. Our clients have started receiving denials of the 5558 because they were not received timely. Tried calling the IRS and they have too many calls and the line just hangs up on you. I know this happened back in 2010, wondering if anyone else has had this issue this year?"

"A group of physicians is considering a cross-tested combination, 401(k) and cash balance. One owner-doctor is Muslim and is questioning the hypothetical interest on the allocation when expressed as a fixed-rate. He is fine with the 401(k) assets being market-driven, but has concerns about the cash balance allocation. [1] Anyone ever handle anything similar? [2] Can the hypothetical interest be 0 for his allocation class or is that a reduction? [3] Is there a better way to explain the interest part that may avoid his objection?"

"Curious as to thoughts on this. I don't think I've actually seen anyone utilizing a 'Simple Cafeteria Plan' (pursuant to a provision in the Affordable Care Act). Any thoughts on why? Is it that the 2% employer contribution is a major sticking point, or are there other reasons? Seems like it would work well for many really small employers, if it isn't the required employer contribution that's the problem."