"I'm just trying to see if we can setup an additional plan for someone due to it being a controlled group: [1] Employer #1 -- Husband owns 100% of the company, his wife is the only employee [2] Employer #2 -- Wife owns 100% of company (and is the sole employee). So the question is, the wife is getting a benefit under her husband's Plan (and a sizable one). Can she also setup a Plan under her own company or would that not be allowed?"

[Sponsored]

Experience optimal retirement plan administration. Enhance efficiency, accuracy, and savings -- focus on people, not paperwork.

"We have a client setting up a Mega Backdoor Roth contribution in his 401(k) Plan. The question is, does that contribution need to show up on his W2? I didn't think so, but I wanted to confirm."

"I have an HSA that comes with my Employer provided HDHP. This year I elected for self only coverage in my HDHP. The HSA max is $4300 in 2025. My spouse is electing self only coverage through her non-HDHP provider. If i understand correctly my spouse (we just got married in Sep 2024) who is eligible for FEDS-FSA through her federal government job enrolls into FSA this will make my HSA contributions disqualified/disallowed?

1. If that is the case can i contribute up to the HSA max of 8550 instead? I've already completed my enrollment with self-only coverage and she is not associated to any of my insurance(s).
2. If #1 is not possible. Can she enroll in a Limited Expense Health Care FSA?
3. Regardless of the above answers am i allowed to use HSA funds for my personal expenses with contributions I've made before getting married?"

"Do you include accrued income (especially dividends and interest) in the fair market value used to calculate the RMD for an individual? Do you know of any specific guidance from the IRS on this? I am wondering if the accruals are excluded for a cash basis taxpayer."

"If I have an executive making $500 a year, and he participates in a 403b plan, isn’t the employer nonelective contribution (assume 5% of base) limited to the $340,000 401(a)(17) limit? In other words, he contributes $23K in employee contributions, plus $7500 catch-up, and the company does a quarterly nonelective of 5%. Currently, they’re contributing 5% of $500,000, but shouldn’t it be 5% of the $340,000 max?"

"Ft William doc, 12/31 PYE. Eligibility is age 21, 3 months -- elapsed time (not consecutive) and monthly entry. Hire date: 2/25/24 Term date: 4/11/24 Rehire date: 8/22/24 When should this person become eligible ?"

"EBSA opens voluntary 'Retirement Savings Lost and Found' database for submissions -- First submissions should be made as soon as possible before December 29, 2024, and updated at least annually thereafter. See the formal RFI and the EBSA Fact Sheet."

"In NC, my friend married a probation officer. They were married about three weeks when the officer committed suicide. The state was not informed of the marriage. The payout was given to a beneficiary and my friend received nothing. How does she combat the problem?"

"I've not seen definitely how the age limitation works. It is clear that someone who is age 59 on 1/1/2025 and turns 60 in 2025 are are eligible for the additional catch-up. What about the person who is 63 as of 1/1/2025 and turns 64 before the end of 2025? Things I read seem to say they must be 60-63 by the end of the year and might not be eligible for the catch-up if they turn 64 by end of year. So early in 2025, at age 63 they should not defer the extra catch-up since they will turn 64 before end of year. Payroll systems will handle this correctly in any event."