"Hi This is a first for me. Need to see what others did in this situation and if any permissible correction is available. Frozen DB plan, one lifer. Do not know if married but to complicate, let's assume married. Plan was underfunded under 417e so no excess issues and no 415 issues. In December decides to roll over the assets into an existing SEP IRA without even hinting to me. Rollover happened on 12/15/2022 so termination resolution and distribution forms had to be executed before 12/15/2022 -- neither of which is done. DB account is still open with a few dollars. What to do to correct all this? Any expert opinion/comments appreciated (other than run away -- seriously thinking about it)."

"A 403(b) plan’s definition of a Year of Service (YOS) is 1,000 hours in Eligibility Computation Period, and it switches to the Plan Year after that. The Plan Entry Date is “Immediate” So, if during an Employee’s initial year, they don’t get 1,000 hours, it shifts to the Plan Year. And, then, if they do get 1,000 hours in that next Plan Year, when is the entry date? They satisfy the YOS on 12/31 (it’s a calendar year plan). So, are they eligible on 12/31? The plan has participation comp. Do they have just one day of comp for the Employer contribution? Or do they get a contribution for the payroll that includes 12/31. That is the next year? Or do they simply enter on 1/1?"

"Looking at a DB plan - one lifer. AFTAP was never done so AB frozen a few years back. The plan never officially frozen - just AFTAP freeze. Did a quick run and 401a26 fails, both annual and accrued-to-date. The software program is not providing an option for accrued to date at all. I am thinking an 11-g amendment to provide meaningful benefit. I would not ask this question if the plan was hard-frozen but here the freeze is due to lack of AFTAP. Can one do an 11-g amendment and increase the AB and overwrite the AFTAP freeze? Any other thoughts/comments?"

"What are the conditions that trigger the requirement to surrender or distribute an individual life insurance policy held on behalf of a participant from a qualified plan after a participant terminates? How does terminating before or after NRA impact whether a life insurance policy held in a participant’s account needs to be surrendered or distributed? Our ASC BPD Section 10.08(d) says, “Life insurance policies under the Plan, which are held on behalf of a Participant, must be distributed to the Participant or converted to cash upon the later of the Participant’s Annuity Starting Date (as defined in Section 1.12) or termination of employment.” And then Section 1.12 says in part, “Annuity Starting Date. The date an Employee commences distribution from the Plan.” Do partial lumps, installments or RMDs trigger this requirement? I’m also looking at the ERISA Outline Book which says, “Life insurance can't continue beyond retirement. Rev. Rul. 54-51 includes a requirement that for life insurance to be incidental, the policy must be converted to retirement income or distributed to the participant no later than the normal retirement date under the plan. Rev. Rul. 57-213 clarifies that the life insurance policy may be continued beyond retirement age, if the participant does not elect to retire. The IRS’ Listing of Required Modifications published for prototype plans provides that conversion or distribution of the policy is not required until the “annuity starting date” (i.e., the date distributions commence). Although not addressed by the IRS, it should be reasonable to allow insurance coverage to continue beyond the required beginning date under IRC §401(a)(9), if the participant has not terminated employment.” Any guidance on this would be appreciated."

"So, usually Morty electrically signs the 5500 and has EFAST credentials under his name. What happens if Lorena's name is on the 5500, but it's filed using Morty's credentials? The software let it go through."

"Someone age 65 retired from two local governments and has two 457(b) plans and is desirous of converting the two plans to after-tax. The individual initially funded unrelated Roth IRA's way back in 2008 when Roths first came into existence. Despite the huge tax hit to convert/rollover the accounts to after tax-If the distributions could be taken within five years with no 10% penalty. O is there in fact a five hear holding period to eliminate any money being subject to the 10% tax?"

"Let's consider a hypothetical situation. We have a lovely couple, he is an independent 1099 ER doc, she has a one-person dental office running her business as a PC. The husband happens to be very good with finances, budget planning and all the financial matters and handles those issues for his business and as a W-2 employee for the wife's dental office. She is very good with marketing, internet media, licensing etc. and handles those aspects for herself and for the husband's business as a W-2 employee. Am I dreaming that after Secure 2.0 change to family attribution rules that particular couple would be able to double-dip everywhere on retirement plans? Two 401k plans, 2 DB/CB plans, etc.?"

"The client's Section 125 SPD says the effective date of a QLE (in this case, marriage) will be on a prospective basis whereas the ERISA SPD says the effective date of the new spouse's coverage would be based on the date of the event. The employee submitted the necessary enrollment paperwork 10 days after the event. I did some research and found that in these cases the employee is entitled to the benefit of the more generous of the 2 documents. So, the ERISA SPD would govern in this case. Then I was discussing with a coworker and their thought is the cafeteria plan document is the more accurate, unless it is the QLE is birth or adoption. Does anyone have any thoughts on this?"