"Administer a 401(k) plan that utilizes salary deferral, SH Nonelective and Profit Sharing. Salary deferrals are self-directed and everything else is pooled. Sponsor is a corporation. Calendar Year 2022: All salary deferrals were funded by 12/31/2022. They funded employer contributions of $110,000 in 2022 and forgot to fund all remaining contributions. There were Safe Harbor allocations of $110,000 for 2022. So the $110,000 deposit in 2022 covers that. They intended to fund a profit sharing contribution of $200,000 for the 2022 year but mistakenly never funded it. They filed by March 15, 2023 and took a deduction for employer contributions of $310,000 ($110,000 SH + $200,000 PS). However, they forgot to fund the final $200,000 deposit. They will need to amend their 2022 corporation tax return and show $200,000 of additional taxable income. They want to make this up to their participants and deposit the additional $200,000 now. All 2023 year contributions have been funded properly. I believe they could fund the additional $200,000 now and have it along with the 2023 year employer contributions as deductible for 2023 (still under the 25% deductible limit). If this is the case, should the $200,000 profit sharing be allocated as of 12/31/2022 (on the 2022 report) or should it be allocated as of 12/31/2022 and combined with the 2023 profit sharing allocation (on the 2023 report)?"

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"I had a pension from many years ago. The company was bought and sold a few times. When I tried to collect it in 2023, I was told that I received a payout (under $5000) in May of 2001. I never received said payout. I obtained my 2001 tax transcript from the IRS and my wage statement from my employer of that year. Clearly shows a 1099R was never issued and the only income I received that year was from my W2. Pension administrator has never been able to show any documentation that the payout actually occurred. We are in appeal now. Just wondering if anyone else has had a situation similar to mine and what the out come was."

"I was wondering if this a good idea to buy because I am retired goal is 2035 I started wok in 2017. I want see if i can retired before that."

"Trying to uncover the true difference between these types of pay. I can find details about separation pay when related to 409A but this is not what we are using this for. Google is providing me that the terms are used interchangeably. At my company, I am learning towards they are very similar. I am trying to understand the difference and if we are following the correct plan compensation. There was a lot of details on other posts and the main key I remember reading is around would these team members receive the pay had they not been let go. I could make that argument on both of these items. I worried because we do have 409A in our system. separation pay was supposed to go along with 409A codes but thinking it may have been the opportunity to reuse a code for those who needed some payouts but did not understand in full what it meant. Separation pay -- given to those who will be terminated at no fault of their own most times. Up to 30 days salary pay. Sometimes this pay comes on the last day or two weeks after you have terminated. They are given a heads up about their departure. At this time, is considered eligible plan compensation. Not all those who get separation pay get severance. Is not termination pay and not not in lieu of notice pay. Severance pay -- given to those who are involuntary terminated at no fault of their own. Must sign an agreement and specific set of money is given over the course of a few weeks to months. These payments start after your separation payments and you would have both the separation and severance pay. Is not considered plan compensation."

"I know a profit sharing contribution is discretionary and is not required to be funded. Have a client with a 401(k) Profit Sharing Plan where they forgot to fund the profit sharing contribution for the plan year ended 12/31/2022. They have funded a 10% of salary profit sharing contribution for the past 20 years every year and would like to make up the missed contribution now. Is there anything under voluntary correction or self correction that would allow the contribution to be funded now but allocated based on 2022 data? The problem with just funding double the normal contribution now is that there were about 10 participants who terminated employment in 2022 and were entitled to a profit sharing contribution then. They would not receive any contribution now if it had to be based on 2023 year salary."

"If a plan's administrator -- following a reasonable record-retention (and destruction) plan -- no longer has proof (beyond a presumption of regularity) that a distribution was paid, but the claimant lacks evidence that no distribution was paid, how do these situations resolve? If the Employee Benefits Security Administration opens an inquiry, what does EBSA ask for? And if the response is no records remain, do they close the file? Do any of these claimants bring a lawsuit? Something else?"

"Title says it all.... the first year of the plan the only employee with 1,000 hours is the owner. File a form 5500-EZ and then the following year switch to a 5500-SF?"

"Anyone aware of any DOL or IRS enforcement actions concerning employee assistance programs? Specifically instances in which the DOL or IRS found that an EAP was not an excepted benefit?"