"We've known that our client NR is in a controlled group with RR (has their own plan but not our client) for several years, and we actually get the RR data every other year or so to prove that it passes 410b for all the various BRF, which it does. We've convinced the owners to let us take over the RR plan, and as part of the discussion they mentioned the RR plan includes union employees (they were included in the data we received, but not identified as such). NR's plan excludes union employees, and there are union employees that are excluded. They want to keep the two plans separate (getting close to the audit threshold, don't want a conversion, etc.). Is this union thing going to be a problem for coverage? I'd like to think that since we can exclude all union employees, it's OK to include some class of them."

"I brought up the DFVC Penalty Calculator for a plan with a late filing in 2024. But when the list of late filings in EFAST appeared, it showed two years, not just the 2024 filing. The other year, 12/31/2022, was filed on 10/16/2023 through EFAST. Since 10/15/2023 fell on a Sunday, the filing date of 10/16/2023 is timely. An extension was filed before 7/31/2023, and the extension box is clearly checked on the form. Am I missing something, or does it appear that the 2022 filing should not be considered late? Should they pay the penalty on 2022 as well, even though it's not late?"

"TPA for a small PBGC covered plan, with various HCE and NHCE A portion of the plan's money has been transferred to what appears to be a pooled off-shore account with a wealth management firm. No annual statements are produced, just a letter that says something like your starting interest as of 12/31/2024 is $X, P/L during the year was $Y, and end value of your interest in the pooled investment is $Z. The letter explains that statements are not available due to the pooled nature of the investment with lots of other investors.

'Off-hand I do not see anything prohibiting a pooled investment interest that would impact either an ERISA bond (non-qualified assets), or filing of a Form 5500-SF (must be eligible plan assets). Is there one? Other potential restrictions that should be asked about? ... So far: I intend to ask which is the categories of 'qualifying plan assets' the investment is, in case the bond is not sufficient to avoid audit. What other questions /issues should be addressed?"