Plan Sponsor Questions

Tax Credit on new plans

feeds@yuku.com (ms401) — Wed, 02 Dec 2009 06:28:58 GMT

Is there still a $500 tax credit for new plans in 2009 and 2010?

checklist for 401(k) plan document?

feeds@yuku.com (mclaridge) — Mon, 26 Oct 2009 07:58:26 GMT

I need to review a 401(k) plan document and am looking for a checklist or something that offers information on the required features, due dates of required amendments, etc. Does anyone have resource for something like this? Thank you.

Plan termination - amending plan documents

feeds@yuku.com (lestola) — Thu, 08 Oct 2009 13:32:00 GMT

I am the trustee of a small 401(k) plan (12 participants, about 30 total employees.) As of the end of 2008, the plan sponsor was for all intents and purposes insolvent. Most employees were terminated and all plan assets (about 24K) were distributed (employees were properly notified.) The company never made any matching or profit-sharing contributions. I drew up a basic amendment stating the plan was to be terminated and a corporate resolution to do so - just plain language stating the...

Can I convert a 401k to a S.I.M.PL.E.?

feeds@yuku.com (fender5150) — Tue, 06 Oct 2009 07:57:49 GMT

I think I know the answer to this already, but things change so fast it's hard to keep up.

If a client wanted to opt out of the more expensive 401k plan and adopt a SIMPLE; is there a way to convert the plan seemlessly?

Thanks in advance for your feedback.

Investment Committee

feeds@yuku.com (fiddle) — Mon, 31 Aug 2009 04:16:06 GMT

What is the criteria for selecting an investment committee?

Puerto Rico participants

feeds@yuku.com (HR4Evr) — Wed, 26 Aug 2009 11:48:27 GMT

Is there any reason that our Puerto Rican employees could not participate in our 401k plan?

Urgent vesting question

feeds@yuku.com (bad) — Thu, 20 Aug 2009 06:34:51 GMT

I am a salaried employee that works for a company only open M-F. As an employee of my current company we are vested 20% each year of employment. I have turned in my resignation for the Friday before my 4 year anniversary (4 year anniversary is the Saturday). I was under the impression that since our pay periods run Sun-Sat and we are not open on Sat. that I should be in the clear with the 4th year of vesting. Is this proper thinking?

Vanguard " pooled " Accounts

feeds@yuku.com (tanninman) — Wed, 12 Aug 2009 08:50:59 GMT

We currently have FBO accounts with Vanguard, as some of you probably know these accounts are being eliminated, I am considering pooling our accounts and doing the record keeping in house. I was hoping to get some recommendations on software. I couldn't find anything while I was searching this morning. I thought quickbooks could probably handle it as well but it doesn't seem obvious to me. We are a small company only 3 participants. Thank You in Advance for Comments or Suggestions. Mike

TPA Service Level Agreements

feeds@yuku.com (GDon) — Tue, 21 Jul 2009 13:47:02 GMT

I'm looking for a listing of recommendations to include in a new TPA service level agreement, from the perspective of the Plan Sponsor to ensure I'm including the best practices. Thanks

True-Ups

feeds@yuku.com (ralexander) — Tue, 23 Jun 2009 11:43:32 GMT

For the TPAs out there, when you do a true-up at the end of the year, what do you do about the people who had contributions over the calculated amount? Do you leave it there? Do you remove that money from the participant account and consider it an excess contribution?

I've been under the impression that there is no "true-down," as in coming to the correct dollar amount by removing the money. Only true-ups, coming to the correct amount by contributing money, are...

Cross Tested Plan Designs

feeds@yuku.com (ms401) — Tue, 23 Jun 2009 08:52:35 GMT

Is there anywhere I can go to take (either online or seminar style) a course in how to properly administer cross-tested/new comparability plan designs?

401k Checking account debit to offset personal line of credit

feeds@yuku.com (pondman) — Thu, 19 Mar 2009 06:06:59 GMT

We recently sold our real estate brokerage company that had a qualified 401k plan to invest in real estate. The 401k plan did not go with the company as we did not sell the s-corp. We dispersed all participants funds to them except my wife and I. We own property with this 401k account and had around 5k in the checking account. Because we defaulted on a personally backed business line of credit the (small local bank) debited our 401k checking account for the right of offset. I had the branch...

Plan sponsor question for 401k conversion

feeds@yuku.com (Mel) — Thu, 12 Mar 2009 06:04:09 GMT

Our small business has a safe harbor 401k plan with about 110k assets and currently using an expensive fiduciary company to administer and manager our assets. I am looking to get away from having our 401k assets held(managed) through a trustee bank, and all TPAs I have contacted require that I use their trustee bank to manager/hold our 401k assets. Our funds are 100% invested in Vanguard but our assets are too low for Vanguard to take over TPA responsibilites. I have read that "

Effect of Investment Policy Statements on 401(k) plans

feeds@yuku.com (lderisi) — Wed, 25 Feb 2009 08:42:27 GMT

Is there any information about the effect that Investment Policy Statements have had on 401(k) plans?

Multiple Plans: Safe Harbor 401k and SEP

feeds@yuku.com (LManley01) — Fri, 20 Feb 2009 20:06:30 GMT

Our company has a Safe Harbor 401k in place and would like to institute a SEP-IRA as well. We're cognizant that the SEP-IRA would have to be based on a Prototype Plan (not the 5305). Concern at this time is preserving the waiver of testing afforded by the Safe Harbor 401k. All that being said.... is this permissable? To implement the SEP in addition to the Safe Habor 401k? Any warnings/advise, please?

Safe Harbor to traditional

feeds@yuku.com (ceatlanta) — Tue, 27 Jan 2009 13:12:39 GMT

Can a company change from a Safe Harbor 401(k) plan to a traditional 401(k) plan after the start of a new year? Are there any notice requirements to participants?

Exceeding 401k limits

feeds@yuku.com (johnk) — Tue, 06 Jan 2009 16:35:59 GMT

I changed employers 7/1/08. I've managed my contributions to both prior and current 401K plans so I've maxed out MY limit of 15,500 + catch-up. OK with that.
I've also managed to max out employer contributions between the two so I'm at the magic 46K for last year. A good year :-)

Now, employer #2 wants to make an additional contribution to my 401K of 10,000 on 2/15/09 for the 2008 tax year. They say this is allowed by IRS rules and that this will not exceed...

Issue with Plan Sponsor Directed Investments

feeds@yuku.com (bariww) — Mon, 15 Dec 2008 08:47:45 GMT

Here's the situation:

If a plan sponsor directs the investments of the plan as a whole (meaning all the plan investments are invested as 1 account, rather than seperately based on each participants risk profile) and uses a managed account or a discretionary account with an advisor to do so, what liability do they have and what issues should they be concerned with? To further clarify, if the plan is invested 20% in large cap growth, 10% small cap value etc, than all...

Compensation Limits

feeds@yuku.com (scote) — Tue, 02 Dec 2008 14:10:51 GMT

I am a payroll administrator and we have a discrepancy within our company regarding the maximum amount of compensation that can be used to calculate and employee's contribution to their 401(k) account. Once an employee has reached $230,000 in compensation for 2008, can they continue to contribute to their 401(k) if they have not reached the contribution limit of $15,500?

Your assistance is greatly apprciated. Thank you.

How many 401ks are not doing the safe harbor match for the first time this year?

feeds@yuku.com (fender5150) — Wed, 19 Nov 2008 07:47:12 GMT

I'm writing this because I'm curious about the number of potential problems out there, and because I want to make a one-time offer to small businesses who are subject to the ADP test for the first time ever.

Did your company change to a Non-safe-harbor plan this year? If you answer "yes", don't give the name of the company IE: Don't attract that kind of...