Plan Administrator

Question: What can be done if plan administrator won't release benefit plan funds? My husband was laid off of a union job about six months ago and the plan administrator says my husband can't get his money his 401k. The plan states that under certain exceptions a person can receive immediate distributions and my husbands situation does fall under the exceptions. What can he do to get his money?

Answer: My husband was laid off of a union job Contact the UNION REP. This is what you pay union dues for. You may as well get your moneys worth.

Question: Can you do an IRA rollover for a 401K, 403B or TSA if the company change plan administrator? Company change plan administrator to a new one. Company not putting any more contribution to the former plan administrator but now has a new plan administrator that currently receives contribution. Employee still working for the same company.

Answer: Only if you are fully vested, and not still employed. Your employer will remove the monies from the old, and deposit with the new... see your HR person to find out when and how...

Question: Can human resources/plan administrator stop or deny my rollover into an IRA? I left my job under non-amicable conditions and would like to rollover my money to an IRA. The direct rollover must be approved by the plan administrator. I want to know if she can deny or stop the rollover legally and if not, is there anything I can do to force her to approve it faster.

Answer: Read the plan provisions. It should cover that. No, the rollover cannot be denied. However, the plan may provide for a "lead time" or delay before the rollover. And you only get to keep the vested portion of your account.

Question: When did Aliquant become the COBRA plan administrator for Farmers Insurance? When exactly did Farmers Insurance in Austin, Texas stop using United Healthcare as its plan administrator, and begin using Aliquant instead?

Answer: I think the plan administrators are set by the employers, not the carriers.

Question: What does a stock plan administrator do? In detail, not just generic stuff. What do I need to know and learn, how can I work towards my goal of becoming one? Without getting a Bachelors because I already have one and can't go back to school at this point. thanks!

Answer: If you don't want to go back to school you can usually take a online course which will provide you with a certificate. See the website below for one such course.

Question: How would I find out who the retirement plan administrator was for a closed down business? The name of the company was Lustar. It was located in Asheville, NC. It shut down in 2005.

Answer: Try the office of the Secretary of State in NC.

Question: Using the Internet, what is the best way to find a Pension Plan Administrator for a former employer .30 years? Westinghouse Electric Corporation - Major Appliance Division Columbus, Ohio Was sold several times

Answer: You might start here: http://benefits.northropgrumman.com/pens… Though I'm not sure if you meant "30 years" or ".30 years"? Use http://www.google.com and put in the Search terms 'Westinghouse' & 'Pension', you might also put in a year the employee left.

Question: WHAT DO YOU DO IF THE PLAN ADMINISTRATOR REFERS YOU BACK TO YOUR BOSS? When I contact the Admin. they refer me back to my boss what then? sorry just realized I had caps on. 401K and the boss is denying even though all requirements are met

Answer: TURN THE CAPSLOCK off.

Question: Is there such an address of 11910 Airlane Lane Nashville, Tn 37210 for a plan administrator of a pension plan? When checked maps on line for the name of the business at this address it states no such street name or #??? I am trying to get information on union I used to belong to and this is the only address I have which is probably 20 years old

Answer: United Furniture Workers Of America Insurance & Pension Funds 1910 Air Lane Drive, Nashville, TN 37210 (615) 889-8860 I think this may be who you are looking for.

Question: I just started my own company. I want to offer employees a retirement acct and be the plan administrator....? Will I be able to trade these funds?

Answer: sure...just remember that you will also have PERSONAL liability if the investments don't perform. In addition, you have the potential to have to respond to any lawsuit even if you win...and the cost of doing so even once would wipe out any gains you would have in doing this. Better to avoid this...offer a plan and let each of them manage their own accounts and you manage yours. Or hire a financial advisor to do it for you. Cover yourself!! Limit your liability. See a Third Party Administrator (TPA) in your area. It will save you money and grief in the long run.

Question: The plan administrator for my 401k disappeared...how can I rollover my funds? I used to work for the phone company Helio before they were acquired by Virgin Mobile. I believe this happened in June. I was told not long ago that I was sent papers instructing me to roll my 401k over before October, but not having received those papers and being really naive about that sort of stuff, I didn't. Now, the plan administrator no longer works with the company and I can't find him. Fidelity says in order to access my 401k I need to go through this (now phantom) administrator, but when I attempt contacting the last remaining HR rep in the dying Helio corporate office, she has no idea what I can do. SUMMED UP: I have a 401k that I cannot move. I DON'T WANT TO WITHDRAW FROM IT...I only want to roll it over into a Roth IRA with Fidelity. Who do I contact?

Answer: Go to Fidelity.. and ask them to file the rollover forms....... They can do what you want FOR YOU....

Question: What happens behind the scenes in a 401k plan? I work for a medium sized technology company in Silicon Valley. I have been participating in the company 401k plan for 5 years. Every once in a while the 401k funds available to us change completely. Even the funds that are doing spectacularly well. I can never get a straight answer from our 401k plan administrator or the company that provides us with the plan, as to why funds are added and dropped at will. Apparently there is a board of trustees that manages the company 401k and decides which funds to make available. Being a salesperson myself, I am guessing that this Board of Trustees has other incentives to choose one company's 401k mutual fund over another. How does this work exactly? Are these board members given kickbacks and free lunches when approached by new fund administrators?

Answer: Most likely it's because of service. That's the typical reason that a firm your size would switch administrators. However, if they aren't witching the company that provides the plan but only the funds then they hopefully are doing their due diligence and making choices based on appropriate information. Why would they switch a fund? Perhaps the fund moved out of the appropriate investement category...ex: a large cap starts buying small cap funds to prop up it's returns or a value fund starts buying up growth stocks. Or it could be as simple as the fund has a lot of turnover in it's management. Perhaps the fund was targeted by Eliot Spitzer for fee issues....could be a myriad of reasons. For smaller firms the mutual funds sold to them typically pay for the fees out of 12b-1 fees which are hidden in the expense ratios. The higher that fee the more that is being paid to the administrator and or investment firm. That means less out of pocket expenses by the company....essentially a "free" product...but it's not free it's being paid for by the participants. Check your funds expense ratios...see if there 12b-1's being paid by the fund...check to see if they are higher than before. If not the reasons are probably reasonable. Mutual Fund companies are not supposed to pay bribes or kickbacks...delisting would be the end result if caught. btw...if the fee were the same...would you rather know you were paying it via a fee column or would you rather it be hidden as part of the funds expense ratios? I think the former...but the mutual fund companies say the latter.

Question: Is it possible not to name a benificiary in a retirement plan? Our uncle died but we were informed by the Retirement Plan Administrator that they could not find any benificiary on file? How can we verify this. We have no cop of the plan. Is it possible not to name a benificiary to a retirement plan? Anybody please help.

Answer: Depending on the rules for that plan it could be. If there was no named beneficiary the proceeds of that retirement plan would normally become a part of the estate assets. Again the rules (law) for the state in which he passed will determine how that money will be or can be distributed. You would be wise to find someone familiar with this area of the law in your state to assist you. That does not necessarily mean hiring an expensive attorney so do a little research before doing so.

Question: Retirement Plan Administrator says that no beneficiary designation form was filed ..., how can we verify...? Are there other agencies or department of the company who can verify this statement? i mean government and private agencies.

Answer: More details please about your situation. A beneficiary form is usually only filed with the insurance agency who issues it. It's up to the policy holder to keep a copy. For example, my life insurance beneficiary form is on file with the insurance company only and I myself have a copy. No other entity except the actual beneficiary would have a copy. I take it this is for a deceased relative? Go through all personal paperwork thoroughly.

Question: is there a 401k contribution worksheet for plan administrators to help manage plan? We now offer 401k and I'm the lucky person who gets to manage the plan. I have set up my employee's 401k deductions successfully in QuickBooks but now wonder how to calculate the employer's contribution amount. We match 100% up to the first 3% of an employee's annual salary and then 50% for deferrals between 3%-5%. There has to be an online resource/spreadsheet/SOMETHING to help me easily calculate these amount. Thanks

Answer: Quickbooks should also be able to calculate the match. It's a basic safeharbor matching formula that is based allows for "catchup" matches....but here's the formula in excel: Column A = YTD Compensation as defined in plan document Column B = YTD Deferral (401k deductions) Column C = YTD Match (formula below) =IF(B2/A2<=0.03,(MIN(ROUND(0.0 3*A2,2),B2)),IF(B2/A2>=0.05, ROUND(0.04*A2,2),ROUND( ((B2-0.03*A2)*0.5)+(0.03*A2) ,2))) This all goes in once cell... Column D = Prior Match (last pay periods Column C) Column E = Current Match (Coulmn D - Column D) Just keep a running total and you should be fine. keep in mind that if your plan is not a safe harbor plan (100% vested in match immediately) then you don't want to make the contribution each payroll because you'll be giving a match to those who may not ultimately be entitled to it (if they leave before end of year). If that's the case then use the formula above without the Column D and E and calculate the match after the last payperiod. btw there is far more to adminstering a plan than calculating a match - there is also discrimination testing, plan tax filings, statement preparation, notice preparation, and document upkeep. If you haven't already-you may want to consult a TPA and see if they can do this for you at a reasonable rate. Shouldn't cost more than $2000 a year and relieves a lot of headaches.

Question: how much does a person make work in Public Administrator city planning field? How much do city planners make? Or Public Administrator city planning.? how much do city planners make? Or Public Administrator city planning. what would be the starting salary for this major? with a bachelor degree? im majoring in this field so i was just curious as to how much they make.

Answer: ~ $32,000 - $39,000

Question: Is "plan on a page" pure spin, introduced by an administrator who has been brought in on contract ?

Answer: probably, as long as it deals with individual performance management system

Question: Is Associate a better job title than an Administrator? I am currently working as administrator and planning to transfer to the other department which changes my title to Associate... Do you think its better this way?

Answer: On a resume the job title Administrator is ten times better than Associate. Adminstrator denotes responsibility and management; Associate denotes clerk and subordinate.

Question: How secure is a database administrator's job? Will they be needed 50 years down the road? I am currently majoring in Information Systems with a track of database management. I plan to become a database administrator or database analyst when I graduate. I know the job prospects are great now but I just want to make sure when I'm 50, this will still be something that companies CANNOT do without.

Answer: Nobody can say what IT will look like 50 years down the line. What matters is that there is a major demand for database administrators across industries. Right from banks, restaurants, green companies, government -- database is the essential back-end for all these front ends.

Question: How much will the LG env cost if I am not the main person in my plan? Will the Env still cost me $150 with a 2yr. contract even if i am no the administrator of my plan or will it be full price.

Answer: With any two year contract the enV is 199.99 then you get a 50.00 mail in rebate. If you order the phone online, the rebate is instant.