"For 2024's emergency personal expense distribution, Internal Revenue Code Section 72(t)(2)(I)(iii) states: DOLLAR LIMITATION. -- The amount which may be treated as an emergency personal expense distribution by any individual in any calendar year shall not exceed the lesser of $1,000 or an amount equal to the excess of -- (I) the individual's total nonforfeitable accrued benefit under the plan (the individual's total interest in the plan in the case of an individual retirement plan), determined as of the date of each such distribution, over (II) $1,000. What does this mean? Does it mean a participant whose whole account (let's assume it's all 100% vested) is $1,787 is restricted to $787 for her emergency personal expense distribution?"

"Upon termination of a DB pension plan, surplus pension assets may be transferred directly to the employer's DC plan to avoid or reduce the excise tax otherwise applicable under Code Section 4980. Is there any reason that the surplus assets cannot be transferred in-kind to the DC Plan?"

"An employer provides an employee a vehicle for business and personal use. There is no substantiation, etc. The full value is taxable to the employee. As a taxable, non-cash fringe benefit, the employer normally would be required to withhold federal income tax based on the value of the non-cash fringe benefit provided to the employee. Say the value is $500 per month. However, Section 3402(s) and Announcement 85-113 say that an employer can choose not to withhold federal income tax from the value of a 'vehicle fringe benefit' (a taxable, employer-provided vehicle). Even though withholding is optional, there is nothing in Section 3401(a) itself that exempts taxable vehicle fringe benefits from 'wages' as defined in Section 3401(a). So is the $500 per month included in 3401(a) wages for plan purposes?"

"My spouse and I have separate solo 401k plans (let's call them Plan A and Plan B), which we opened a few years ago when we undertook self-employed activities. This year, we opened an LLC as QJV and are looking to consolidate those solo 401k plans into one (let's call it Plan C). Furthermore, after some research, it seems that in community property states, we're considered a Controlled Group and can only have one solo 401k plan. However, we have two solo 401k plans and need to fix this as soon as possible. We are trying to understand the best course of action. Option #1: [1] Adopt a new solo 401k plan (Plan C) [2] Perform trustee-trustee transfers from Plan A and B to the new Plan C [3] Close the old solo 401k plans (Plans A and B) Option #2: [1] Amend (restate) Plan A so it becomes Plan C [2] Perform a trustee-trustee transfer from Plan B to the new Plan C [3] Close solo 401k plan (Plan B) Option #3: Create a controlled group plan, which will list both Plan A and Plan B in the solo 401(k) plan documents (Plan C). It seems like Option #1 is the simplest one, but I'm unsure if it's ok to do it. Option #2 acts as a middle ground, but its benefits compared to Option #1 aren't very clear to me. Option #3 appears to be the most complex."

"If an individual was in 2 different retirement plans, both of which permitted after-tax employee contribution, could the individual contribute say $50,000 after-tax into each (assuming compensation is high enough, passes testing, etc)?"

"A brand new DB plan effective 1/1/22 was adopted in August, 2023. May the plan's formula be amended before 10/15/23 to increase benefits effective 1/1/22? The plan sponsor's 2022 tax return has an extension to 10/16/2023."