"Currently working on putting together a good listing to locator services in finding missing or deceased terminated vested employees under a plan to keep a more revised and updated copy at my disposal. Some clients currently working with have participants that left and may not have been able to keep in contact with. Using PeoplesFinder.com, EmployeeLocator.com and Legacy.com but want to see if there are others out there that someone might recommend and would be deemed compliant with the DOL/IRS?"

"Plan has the principal residence safe harbor provision. A participant is actively looking to purchase a multiplex building (4 units). He wants to live in 1 unit as his principal residence and lease the other 3 units. He is requesting a hardship distribution to purchase the building. Does this fall under the principal residence safe harbor for hardships? My concern is that the participant is technically purchasing more than his own residence. Any thoughts?"

"Trying to learn about this type of business entity and I'm having trouble finding something definitive regarding their abilities to sponsor a 401k plan. I found a lot of info regarding their involvement with MEPs, PEPs, unions, and VEBAs but not anything discussing whether a single employer PA can sponsor a plan. Specifically, can a realtor who, although associated with a large real estate firm, is individually a PA, sponsor a 401k? I've also read that PAs are a type of corporation that can be treated as LLCs - does this mean owners can either be paid via W-2 wages, schedule c income or K-1 income depending on how the PA chooses to be taxed?"

"For those planning software changes and service changes following law changes from the SECURE 2.0 Act of 2022: 'The federal government could shut down in October. Here's how and why.' An Anti-Deficiency Act government shutdown does not stop every function. But if Labor or Treasury has an appropriations lapse, its work on rulemakings and interpretive guidance would pause until the shutdown ends. The most recent shutdown lasted 34 days. Even if we set aside optional changes, what happens if an absence of guidance results in no software for provisions required as a condition of continued tax qualification?"

"Plan's been frozen so no new benefits after June 30. Plan's staff contribution credits tend to [be] so bad that they always have to do an -11g amendment to pass 401(a)(26). (Annual $500 bucks each, allocated formally as $125 for each quarter they're active during, and then the -11g stuffs more into Q4 as necessary for folks.) Well now they're only going to be getting $250 for the most part. But is there any 'accepted practice' for whether it's appropriate to measure the 0.5% benefit level relative only to the compensation through the freeze date? Otherwise everyone's going to be at HALF their typical accrual rate, if it's expected to be measured on full year's pay."

"We have a plan that was adopted in 2022, but we have elected to treat it as adopted in 2021. We have already file the 2021 Form 5500-SF, including the SB. Now we are working on the 2022 Form 5500-SF, and the instructions for Box D in the 5500-SF instructions and the instructions for the SB both say that we need to check that box and attach the signed 2021 signed SB, with no mention of whether or not the 2021 form 5500 has already been filed. Has anyone here seen any guidance on this? Do we just check it and attach the 2021 SB here per instructions? Or is this only in place for if this is the first filing for the plan? I'll probably play it safe and check the box/attach a copy of the 2021 SB, but this seems counter to the point of the box."

"Two [unrelated] questions but thought I would ask here. [1] I might be not using the correct lingo here so bear with me. The Plan uses their own internal workers for investment advice to the Plan. Same group also works with clients who offer advice and paid for services. Of that investment team is advising the Plan and clients that ultimately they profit on, is that a conflict of interest of the Plan? Think like your internet retirement consulting team providing advice to the Company/Plan and then using said information for external clients where they get paid for the amount of funds their clients have. [2] From a Plan sponsor side, does it always feel you are cleaning up data in the Plan to keep everything afloat? Challenges after challenges and trying to squash but something is always popping up."

"This is in relation to a DC plan, deferral and match sources. The HR individual inadvertently entered a termination date for an active participant. Participant receives a notice from the recordkeeper stating you are eligible for a distribution and participant cashes out 100% of the balance. Participant was 100% vested, age 35, not an owner, not a Key, not an HCE, all funds in the account were correctly calculated. Do you think the SECURE 2.0 overpayment rules are cut and dry to let this distribution go without any action by the administrator? Or do you think we are waiting for guidance and should consider following the prior rule? Or maybe would you say this is not the definition of 'overpayment' as defined by EPCRS?"

"I have a client we just took over that has a 457 Plan. The document I was given doesn't tell me much, unfortunately. I just got the following question, so I wanted to see if anyone had any insight: 'They have an employee that has reduced their hours and are no longer making $120,000 a year. They have been eligible for the 457 in the past -- are they still eligible? Or do they have to meet eligibility each year?' "

"We have a takeover client that has 90-day wait for deferrals and 1 year wait for non-safe harbor match and PS with entry on the first day of the plan year. That is fine. But they want to change to a 1 year of service for deferrals too. I will tell them they have to change to semi-annual entry dates for deferrals. I want to tell them semi-annual for all contributions which is very standard with our clients. I suppose they could still have only one entry date, first day of plan year, for match and PS only since they could require 2 years to enter for those sources, right? I will strongly recommend against one entry date since I believe they or their payroll company will mess up the pay-period match."