(almost) Employed!!
Well, BG, after a year and a half, is now almost officially employed! I start a job on Monday, June 12! It's in the glorious field of pension plans. Not only pension plans, but the compliance testing and government filings thereof! Exciting stuff.
But, it's great to get back to work. I say "almost" because I haven't got my first paycheck yet. That is when I'll be officially employed.
I will be knee-deep in HCE's, top heavy tests and form 5500 filings.
Stop! I know you are jealous.
Not only am I a geek; I'm a pension geek. Don't tell my girlfriend...
But, it's great to get back to work. I say "almost" because I haven't got my first paycheck yet. That is when I'll be officially employed.
I will be knee-deep in HCE's, top heavy tests and form 5500 filings.
Stop! I know you are jealous.
Not only am I a geek; I'm a pension geek. Don't tell my girlfriend...
posted by BG at 02:41
2 Comments:
Thank you for your article on 501(c)(18).[http://www.reish.com/publications/article_detail.cfm?ARTICLEID=810].
Unfortunately they do exist. I recently found out thats what my pension plan was at my old company. It made no difference to me until my wife and I found a house for sale(with my sons bus stop in the front yard, our 3 daughters will be using the same stop in about 2 years too)and I tried to access the funds to pay the closing costs. First I was told no problem.But unlike other plans the only option is a one time total withdrawal. After which the taxes are our responsibility, but the 10% early withdrawal penalty didn't apply like in a 401k. Cool... no problem... So we went ahead and placed the offer, went thru the whole process, we are supposed to close in less than 2 weeks. I called the union to find out if it could be expedited at all and they told me they were denying the withdrawal because after leaving the litho industry for a couple years I found a non union job running a photo processor for a year. So now because I had to take a job they think of as possibly being in the same industry I no longer have the right to withdraw anything. Or evidently talk to anyone there either. LOL. In my quest to find out anything I might be able to use to help me out I came across your article and it made me chuckle even in the face of all this stress, and was about the only real information I could find on this type of pension. Thank You.
And in reference to your question in the article..."Periodically, over the last few years, as I leafed through those magical statutes that we know and love (less verbose than Tolkien, more action than Proust), I have wondered about the references to that mythical creature, the 501(c)(18) plan. Has anyone ever seen one? Did Lewis Carroll draw one? Are they protected by the Endangered Species Act?"...... They do Exist. {ilpfgciu.org} Unfortunately for me.
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