"A hospital wants to start a joint venture with another group. The hospital will own 51% of the JV. Does that level of ownership allow the hospital provide benefits (retirement, health, etc.) to the employees of the JV?"

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Written by Lorraine Dorsa, this is a must-have for ERISA pros working with traditional and cash balance defined benefit plans. Covers DB/CB combo plans and DB plan corrections. Please contact jpecina@erisapedia.com for more information.

"We have had clients inform us they received penalty letters from the IRS for their 2022 Form 8955-SSA. The Form was filed by our office timely and accurately. We received notification from ftwilliam.com today the IRS goofed." [At the link is the text from the ftwilliam.com email.]

"I just need to clarify the rule for Option 1 for Otherwise Excludable Employees: The rule: The earlier of the first day of the next plan year after attaining age 21 and completing one year of service or 6 months after satisfying such requirements. The question: Let's say we are working on a 2023 profit share, and an employee was hired on 07/02/2022. The earlier of: 1st day of the next plan year after completing one year of service: one year of service = 07/01/2023, next plan year = 01/01/2024 Or 6 months after satisfying such requirements: 07/01/2023 + 6 months = 01/01/2024 (or is it 12/31/2023?) Question: Is 6 months after 07/01/2023 actually 12/31/2023 or is it 01/01/2024?"

"Participant contributed in two plans in 2022 and went over the deferral limit in the aggregate. I know there is no distribution after 4/15, the money just stays there and he's taxed twice on the gross excess. However, he lives in California and there is a federal extension for taxes due to the wild fires. Does that 4/15 date for CA residents get moved?"

"If a plan currently allows catch-up contributions but does not allow Roth contributions, does it HAVE TO BE amended BY 12/31/23 to either remove catch-up or add Roth?"

"Employee participated in two plans during 2022 and went over the 402(g) limit by $1,000. Can we just remove the funds from the plan and the ER issue a corrected W2? Before all of the 'Nooooooo' answers, consider this: The ER is already reissuing a new W2 b/c of another, unrelated problem. Can/should they 'correct' the deferral and remove the funds from the plan? If so, does it get placed int he suspense account or can it be sent back to ER as Mistake of Fact?"