Plan Sponsor Questions

Did not report all assets on Form 5500

feeds@yuku.com (lbz123) — Fri, 27 Jun 2008 04:54:03 GMT

I recently joined a company and have found that they 401k plan holds some stock shares, which they have never reported as a plan asset on the 5500. The plan is very large, so the amount of these shares represent less than 2% of the overall assets of the plan. The shares are in the name of the plan and dividend payments have gone uncashed - the employer has not benefitted from this stock or the dividend payments.

I'd like to take steps to dispose of the shares now and have...

Waiver of participation

feeds@yuku.com (jnabs) — Tue, 06 May 2008 11:28:47 GMT

Where can I get a waiver of participation for an employee to decline participation in a qualified plan?

Does anyone know where I can just get a template?

ADP failure past 12 months

feeds@yuku.com (DGaver) — Thu, 24 Apr 2008 10:26:25 GMT

Where would I find information that tells me I have to make a contribution to my NHCEs in the same amount as the return of deferrals and match because we failed to return the excess deferrals and match by the end of the year following the year we failed the ADP/ACP test? Thanks for any help!

5500 schedule r line 3 question

feeds@yuku.com (sfodge) — Wed, 16 Apr 2008 08:10:36 GMT

Hello,
When filling out the schedule R line 3 on the 5500 filing for a daily valuation 401k plan with profit sharing and a seperate trust id number from the employers EIN, should the number of distributions be entered or should the line be skipped? Thanks.

Fleet still a plan sponsor? What happened after the merger with Bank of America?

feeds@yuku.com (Scathach80) — Fri, 28 Mar 2008 16:47:13 GMT

I seem to recall the Fleet functioned as a plan sponsor for defined contribution plan; they would write up or procure retirement plan documents for employers, and put out amendments for laws as GUST, EGGTRA, 401(a)(31) and 401(a)(9). What happened after the merger with Bank of America? Does Bank of America sponsor plans?

Bankrupt company

feeds@yuku.com (chuckcrews) — Tue, 11 Mar 2008 11:19:47 GMT

My client's company has ceased to exist. My client is the plan administrator. He has former employees who never moved their 401(k) balance. He does not know where these employees are. Some are dead. What does he do with their 401(k) balance?

exceeded maximum employer contribution?

feeds@yuku.com (pkeefer) — Sat, 08 Mar 2008 13:16:12 GMT

Looking at the IRS article at http://www.irs.gov/retirement/article/0,,id=119625,00.html, it would be easy to assume that the rule that limits the employer's contribution to 25% of the employee's salary no longer exists. The 25% limit is not mentioned here.

So if an employer exceeded that amount for the 2007 contribution, what would be the best way to rectify the situation? Would it be...

401K compliance question

feeds@yuku.com (knightsmom1) — Thu, 28 Feb 2008 07:54:27 GMT

Looks like we may have failed our compliance testing because of HCE contributions. My question is, are low paid employees that are related to the owner automatically included in determining our HCE contribution threshold? We are a family owned company so many of our employees are related. We didn't know that relatives of the owner were included as HCE even though they don't make very much.

Employee choosing matching rate

feeds@yuku.com (gsutliff) — Wed, 20 Feb 2008 06:40:16 GMT

I want to have multiple classifications for employees so that I can have some that will have 3% matching and others will have 100% matching. I then want employees to be able to choose which classification they are under. If an employee chooses to get the higher matching rate they would get paid about $7.00 less per hour. Can I do this legally? Would I have to create separate divisions for my company and have each division have a different match rate?

Corporate Trustees

feeds@yuku.com (bbollman) — Mon, 11 Feb 2008 20:52:31 GMT

I would like feedback on corporate trustees. I am being told that they will "eliminate my fiduciary responsibility". I have a hard time with that.

Notice to Particpant of Plan Disqualification

feeds@yuku.com (lenejoe) — Mon, 28 Jan 2008 13:29:12 GMT

Does anyone have a sample notice to be given to former participants when the IRS disqualifies a plan?

Surety bonds and what if you don't have employees?

feeds@yuku.com (Scathach80) — Mon, 14 Jan 2008 15:52:41 GMT

I looked over some issues related to Erisa 412(a)(1), Dol. Reg 2580.412-2, 412(a)(3), DOL Advisory Opinion 2004-07A (July 1, 2004), DOL Reg 2580 412-27-30, 2580.412-31-32, DOL Advisory Opinion 2004-07A, DOL 2580.412-2. , DL 2580.412-2

Anyway, my main question has to do with who has to get covered by a bond. Just employees? What if you have no employees, in a hypothetical situation? What about the people at the asset management company, in a hypothetical situation? Or since the...

VESTING

feeds@yuku.com (JSZIPSZKY) — Mon, 07 Jan 2008 06:49:06 GMT

My plan requires a certain number of hours to be considered vested for the year. If an employee takes a paid vacation should the hours for the vacation be added to the actual hours worked to caculated the time vested?

Trust ID #

feeds@yuku.com (ms401) — Mon, 07 Jan 2008 05:14:18 GMT

Starting a new 401k plan and wondering if it is required to have a Trust ID # specific to the plan, different from my company EIN??

Excess Deferral

feeds@yuku.com (infinity123) — Wed, 05 Dec 2007 16:41:37 GMT

I have an employee who has been allowed to contribute the maximum ($15,500) to his 401k this year. Unfortunately, the employee also falls in the highly-compensated bracket for 2007. Without intervention, his deferral is projected to cause the employer plan to fail the ADP test. Our plan administrator has advised they anticipate issuing a refund for the excess deferral (in this case defined as the amount that causes our plan to fail the ADP test) and will issue a 1099 the first quarter of...

Auto enrollment

feeds@yuku.com (TomDavenport) — Fri, 16 Nov 2007 13:14:07 GMT

Does any one have experinve with auto enrollment, if so were you faling testing before using auto enrolment?

401(k) new plan catch up contributions

feeds@yuku.com (WJDervin) — Sun, 21 Oct 2007 09:38:48 GMT

I have just implemented a 401(k) plan with safe harbor and profit sharing for my small company.

In order to gain the maximum 2007 tax benefits for myself, I did an immediate deferral of $15,500 for myself as an employee.

My question is can I now, as the employer, do a 6% match on the lump-sum deferral?

Thank you

Annuities vs. Mutual Funds

feeds@yuku.com (401knovice) — Sun, 21 Oct 2007 09:09:39 GMT

I am currently looking at changing 401K providers and am confused on different investment options.

What are the pros/cons of annuity contracts over mutual funds? Are all investement options offered by insurance companies annuities? I currently have a proposal from ING that offers a variety of mutual funds (separate accounts) but am not sure if these are issued through annuity contracts.

Thanks in advance.

New Company

feeds@yuku.com (ptl1960) — Mon, 15 Oct 2007 13:45:44 GMT

What happens if a company decides to close and then - under a different name and business - reopens with many of the same employees? Also, many employees from another company will be offered jobs.

Will the new company be required to start up a new 401k plan? Can EEs simply rollover their old plan balances to the new plan?

Thanks in advance.