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Winter 2013, Volume 6/Issue 7    
 
Notes from the Vice President - Matt Slyter, Vice President, QKA
 

What is the most important thing you can do to ensure that your employees will have a comfortable retirement?

 

The answer to this question is simple: encourage them to SAVE MORE! According to the 2013 BlackRock Annual Survey, 75% of investors could be...Read More 

 

    
Form 5500, Employer Contribution Deposit, ADP/ACP Excess, 402(g) Limit Corrections....Read More
FAQ's - Karen Thompson
 
What is plan compensation for sole proprietorship and partnership entities?
 
 
 Plan compensation is an important factor that is used to identify contribution rates and the passage of nondiscrimination testing in retirement plans. While compensation for corporations can be easily identified from...Read More 
TSC SpotlightAndrea Gelhar
 
TSC Secure Plan Access Site
 

Have you been to the enhanced TSC Secure Plan Access site lately? We invite you to take a moment to review the valuable tools available to you.

 

Log in to your secure site by clicking on the green...Read More
  

U.S. Supreme Court's Ruling on the Defense of Marriage Act: Impact on Retirement Plans

 

In June, the U.S. Supreme Court struck down key provisions of the Defense of Marriage Act ("DOMA"). As a result of that decision, the federal government will now recognize same-gender marriages if....Read More
 
What Does This Mean? - Andrea Gelhar
 

What does this mean: "ADP Test" and "Top Heavy Test"?

 

Qualified retirement plans are subject to various nondiscrimination tests. The two most common tests are also the most commonly confused. First, it is important to understand how employees are classified for these tests...Read More
Kelsey Larson, Liz Derke, Allison Grondahl    
Kelsey Larson, Liz Derke, Allison Grondahl 
  
Introducing 3 new employees at TSC....Read More

 

Of Interest - Cynthia Mills
 
The Upcoming Document Restatement
  
Of Interest 
The laws governing retirement plans are continually changing. To incorporate new legislation into plan documents, the IRS uses a recurring six-year cycle process for plan rewrites (restatement). All profit sharing/401(k) and similar retirement plans that were adopted on an IRS pre-approved ("prototype" or "volume submitter") plan document in the United States must go through.....Read More
Brain Teaser
 
Two Part Question:
  

Given the census below, does the plan pass the ADP test?

 

Employee

Compensation

Deferral

ADP

Harold

200,000

12,000

6%

Haddie

110,000

5,500

5%

 

 

HCE Average

5.5%

Nick

50,000

4,000

8%

Natasha

40,000

2,000

5%

Nathan

30,000

0

0%

Naomi

20,000

800

4%

 

 

NHCE Average

4.25%

 

Given the following statistics, is the same plan Top Heavy?

 

Employee

Role

Compensation

Ownership

Total Assets

Harold

CEO

200,000

50%

9,000

Haddie

Vice- President

110,000

44%

10,000

Nick

President

50,000

6%

18,000

Natasha

Manager

40,000

0%

6,000

Nathan

Supervisor

30,000

0%

9,000

Naomi

Receptionist

20,000

0%

8,000

 

 

 

100%

$60,000

 

 

 Click here to submit your answer.

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TSC Translator Contributing Staff Members
Jennifer Arntson
Client Relationship Manager
Karen Thompson
Retirement Plan Administrator Manager
Becky Fischer
Retirement Plan Administrator
Cynthia Mills
Plan Document Specialist
Legal Assistant
Andrea Gelhar
Plan Document and Compliance Specialist
Juhl Stoesz
Associate Counsel
Dennis Culhane
Retirement Plan Administrator
 
Holly Fox
Retirement Plan Technician
 
Dean Schwientek
Network Systems Admin

Articles included in the TSC Translator are intended to provide general information about retirement plan developments and issues. The information provided should not be construed as legal or tax advice or opinion. Readers need to discuss specific factual situations confronting them with their retirement plan service providers and/or legal and tax advisors.

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