1/19/2024 0 Comments Michael s schwartz mdFrank (Anesthesiologist) went above and beyond to ensure that my health and well-being were a top concern. Schwartz is truly outstanding! I felt welcomed, cared for, and fully at ease the minute I walked through the doors of the Madison Surger Show more y Center this morning. Neither the administrator, nor a representative of this Plan.With much appreciation, I write this review to Dr Schwartz and his staff!ĭr. SimpleQDRO makes no representations as to Plan may have changed since the most recently available taxįiling, and as a result, these descriptions and features may The information provided on this page is based upon the most The applicable Summary Plan Description for a detailedĭescription of the specific terms and options for the specific Participants and Alternate Payees should ALWAYS review The Plan features and descriptions presented are provided onlyĪs examples and general descriptions a particular type of This is a cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan and provides for an election by employees to defer part of their compensation or receive these amounts in cash.This Plan is a “Profit-Sharing Plan”, where employer contributions are variable and are based upon a portion of company profits based upon quarterly or annual earnings.Classification(s) consists entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of Code section 401(l). “New comparability” or similar plans are where allocations to the Plan are based on participant classifications. An “Age/service weighted” plan is a plan where allocations to the Plan on behalf of a Participant are based on age, service, or age and service. This Plan is an “Age/service weighted” or “new comparability” or similar plan.It is important for an Alternate Payee to consult with a tax professional before making any transfers or withdrawals, in order to be fully informed as to any potential tax consequences arising from either the timing or nature of the transfer or withdrawal. The Alternate Payee may also choose to transfer the awarded funds to another tax qualified account of his/her choice – for example, to an Individual Retirement Account (IRA). This type of plan generally affords an Alternate Payee the ability to receive an immediate lump sum distribution (or withdrawal) upon approval of a QDRO. The Plan will establish a separate account for the Alternate Payee and will usually allow the Alternate Payee the opportunity to utilize investment opportunities that are available for other participants in the Plan. With this type of plan, the Alternate Payee is typically awarded a portion of the Participant's account balance as of a specific date, expressed as either a percentage, or as a specific dollar amount, by way of a Qualified Domestic Relations Order (QDRO). Some examples of this type of plan are 401(k), 401(a), Employee Stock Ownership Plan (ESOP), Savings Plans and Profit-Sharing Plans. This type of Plan generally establishes an account for each individual Participant where a defined amount is being contributed by the Participant, the employer or both. PROFIT SHARING PLAN is a DEFINED CONTRIBUTION PLAN.
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