Gadgetfreak

They "know someone". Basically a small group of investors who buy properties for income. If they are not receiving any personal benefit from the real estate and offering the option to invest to ALL of their participants, what other concerns about a PT would there be? And I would still be interested in hearing more thoughts on my other questions if possible.

I have a bunch of questions related to this as well. I have a client that has a 401k plan with father/son partners and 3 other NHCEs. They want to ALLOW everyone to invest in a private real estate fund (for investment purposes, so no PT) as a choice amongst other traditional mutual funds in the menu. 1) It was mentioned above that you could do this in an IRA. Is that really possible? Which vendors could handle that? That is definitely better than my client demanding to allow it in their 401k plan. 2) Since it is a participant-directed plan, must the RE fund provide a valuation every quarter? Or is annually enough? 3) What is the requirement for a 5500 long-form vs. short-form? 4) What is the requirement for an annual independent audit? Besides this being "messy”, is there anything else to be concerned about? Thanks in advance.

Maybe there is a second plan that ONLY covers NHCE with identical BRF?

There is also a third option that most (but not all) PEOs allow - a completely separate 401k plan with an outside recordkeeper, custodian, and TPA. Just because the PEO is a co-employer does not mandate that you use their bundled 401k program.

Exactly what I suspected. Maybe all of these outside published articles were written before 2024-2. But it seems you agree that this Plan will now need an ACA. Anyone else want to chime in? Thanks.

A PS-only plan established in the 1990s wants to add a 401k provision in 2024. They have more than 10 EEs. Must they implement an Automatic Contribution Arrangement? Everything online seems to indicate "no". But the IRS grab bag notice says the qualified CODA had to have been established before 12/29/22. I also tried searching here but couldn't find the answer. Thanks in advance.

An employer accidentally sent too much money to the 401k custodian. They have not yet claimed it as a deduction for their company return. I know the concept of "once it becomes a plan assets, it needs to stay" but does that really apply to a clerical error? Can the money be sent back to the employer?

Thanks for the response. I am worried how easy it would be to track all revenue from Cash Balance Plans that way. Or revenue from a specific Plan like the Acme Cash Balance Plan. You would need special reports that collected all of the sub-fees that encompassed anything to do with CB plans. Using jobs as a the plan identifier means that it is very easy to see how much revenue I make for all CB plans or a specific one. Unless I am missing something?

For those of you who use either Quickbooks Desktop or Online for your finance/invoicing software, how do you handle clients with multiple plans? With desktop, we used "jobs" for each plan under a single client. It is possible with Online, but getting the job onto the invoice is proving very difficult. I was thinking maybe someone has a better way to track this. Thanks.

https://www.colonialsurety.com/insurance/

For any of you TPAs who also do in-house recordkeeping, what software do you use to manage client onboarding? I am currently researching project management systems that include a client portal (for the new client to complete and return forms, for the advisor to upload their investment menu, etc.). Any ideas? Thanks.

Interesting, because I have heard great things about the NIPA owner's group and conference. I haven't seen as much with ASPPA.

I was active in ASPPA in the past, but not so much anymore. I don't attend conferences and don't pay for their webcasts. I also feel I am finished with my formal educational aspirations regarding credentials. I saw some perks on NIPA: Membership Categories & Benefits - National Institute of Pension Administrators (NIPA). I might actually save enough money to make the membership cost inconsequential. They also have similar training modules for my staff. In fact, NIPA seems to have more options (at least with their certificates). I just don't know if they are as "prestigious". I could get credential reciprocity, but I don't know which credentials are more prestigious - an I certainly wouldn't advertise both. Thanks.

Just polling the folks on this forum. As a TPA business owner, If you could only pick one of the two organizations for membership, which would it be and why? Thanks in advance.

@Bird Agreed! I forgot to mention the balance forward or other annual val situations. I will say that the smaller RKs provide better hand-holding and personal attention than the big "1-800" type companies. So even the out-of-the-box situations can be handled (and communicated) better by those smaller firms.