Search found 1477 matches

by ERISA Stone
Thu Jun 14, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: I was rear ended and the other guy wants a payout!
Replies: 106
Views: 8744

Re: I was rear ended and the other guy wants a payout!

I’m sure the “injury” being claimed will be something vague like a sore neck or back. I’m sure sometimes that’s real, I’m also sure that more often than not it’s a way to try to milk money out of people. I think it is just the opposite. Even a minor car accident at slow speed with minor damage and ...
by ERISA Stone
Thu Jun 14, 2018 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: I was rear ended and the other guy wants a payout!
Replies: 106
Views: 8744

Re: I was rear ended and the other guy wants a payout!

Couple of things: 1. there are quite a few people putting the OP at blame here, and I'm not sure how anyone could come to that conclusion based on what was written. Did I miss a follow-up post down in the thread? 2. OP - how do you know the guy that hit you didn't have an injury? Based on the low a...
by ERISA Stone
Thu Jun 14, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: I was rear ended and the other guy wants a payout!
Replies: 106
Views: 8744

Re: I was rear ended and the other guy wants a payout!

Couple of things:

1. there are quite a few people putting the OP at blame here, and I'm not sure how anyone could come to that conclusion based on what was written. Did I miss a follow-up post down in the thread?
2. OP - how do you know the guy that hit you didn't have an injury?
by ERISA Stone
Tue Jun 12, 2018 9:21 pm
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 1068
Views: 84851

Re: To take or not to take delivery of Tesla 3

Yep. I shorted at $365. Considering another 100 share short. No profits, crappy balance sheet, CEO is a snake oil salesman. Oof, good luck with that. https://www.reuters.com/article/us-tesla-stocks-shorts/tesla-short-sellers-2-billion-in-the-red-for-june-as-shares-soar-idUSKBN1J82OX?utm_campaign=tr...
by ERISA Stone
Sat Jun 09, 2018 8:25 pm
Forum: Investing - Help with Personal Investments
Topic: Why does employer 401K has more limit than personal Roth IRA
Replies: 15
Views: 1364

Re: Why does employer 401K has more limit than personal Roth IRA

The government wants employers to assist with retirement benefits. If the limit for an IRA is the same as a defined contribution plan, there is little incentive for an employer to offer a plan. They can get the same benefit outside the plan, without any consequences from discrimination testing. 401...
by ERISA Stone
Sat Jun 09, 2018 8:42 am
Forum: Investing - Help with Personal Investments
Topic: Why does employer 401K has more limit than personal Roth IRA
Replies: 15
Views: 1364

Re: Why does employer 401K has more limit than personal Roth IRA

The government wants employers to assist with retirement benefits. If the limit for an IRA is the same as a defined contribution plan, there is little incentive for an employer to offer a plan. They can get the same benefit outside the plan, without any consequences from discrimination testing. 401k...
by ERISA Stone
Thu May 17, 2018 8:38 am
Forum: Investing - Help with Personal Investments
Topic: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%
Replies: 26
Views: 3410

Re: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%

LFKB wrote:
Thu May 17, 2018 12:23 am
To put this in perspective, the difference of .12% on $25k is $30 per year...and it would be less after the expense ratio
This is Bogleheads. Based on the comments I read, there are plenty of people who would go through the hassle to switch for $30. :D
by ERISA Stone
Mon May 14, 2018 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Small company 401k plans
Replies: 42
Views: 2610

Re: Small company 401k plans

Our small PC plan (4 owners, 1 employee) has I’m guessing $2M in assets. Our goal is to maximize benefit to owners. Basically, we max out and plan testing tells us what to contribute to 1 non HCE. Guideline only offers comp to comp (pro rata) and equal amount profit sharing which doesn’t fit what w...
by ERISA Stone
Tue May 08, 2018 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Signed Car Lease, Dealer calls later asking for a CO-SIGNER despite excellent credit
Replies: 180
Views: 17787

Re: Signed Car Lease, Dealer calls later asking for a CO-SIGNER despite excellent credit

If the OP has had the car for days or weeks and it is returned to the dealer I cannot imagine a scenario in which they can put it back on the lot with mileage readings that could be tens or hundreds of miles, and claim it is a new car. That simply cannot be true. If I'm car shopping and the odomete...
by ERISA Stone
Mon May 07, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Signed Car Lease, Dealer calls later asking for a CO-SIGNER despite excellent credit
Replies: 180
Views: 17787

Re: Signed Car Lease, Dealer calls later asking for a CO-SIGNER despite excellent credit

[quote=OffTheGrid post_id=3906211 time=<a href="tel:1525116658">1525116658</a> user_id=117862] Trouble is, I can’t co-sign... I have great credit but I’m getting our mortgage this week! Unless I'm mistaken the week has already passed, or close to it. Exactly what I’ve been thinking. Wait long enoug...
by ERISA Stone
Fri May 04, 2018 12:13 pm
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 1068
Views: 84851

Re: To take or not to take delivery of Tesla 3

Not to mention that the current market is that 3's are selling anywhere from $1k-4K over retail, and that's with the 2nd buyer NOT getting the tax credit. Basically, people are paying double taxes (theirs plus the original buyer) and foregoing the tax credit. That market has slowed some, as have th...
by ERISA Stone
Fri May 04, 2018 10:41 am
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 1068
Views: 84851

Re: To take or not to take delivery of Tesla 3

Cancellations:- Is anybody seriously insinuating that Tesla is actually facing the prospects of NOT being able to sell all the M3 that they will be making? at a point....yes Are you interested in buying an almost new bridge? Can we drop it? Repeatedly pointing cancellations makes you look dumb. Thi...
by ERISA Stone
Thu May 03, 2018 7:53 pm
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 1068
Views: 84851

Re: To take or not to take delivery of Tesla 3

During my decision making to order or wait for base model, I did a savings estimate for a long trip. From Atlanta to detroit, for a Model S 100D (Range of 335 miles), the savings given were $96 with 4 stops totaling 145 mins (2 hours 25 mins). For Model 3 (330 miles), it is showing gas savings of $...
by ERISA Stone
Thu Mar 22, 2018 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Employee Fiduciary Update - 15 months in
Replies: 12
Views: 1450

Re: Employee Fiduciary Update - 15 months in

To summarize: 1. If it is a small business with the min % contribution to eligible employees, EF was just fine since they don't need to do any testing and just do record keeping. 2. Any business that has profit sharing and/or more complex testing requirements that EF needs to do - EF currently has ...
by ERISA Stone
Thu Mar 22, 2018 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Employee Fiduciary Update - 15 months in
Replies: 12
Views: 1450

Re: Employee Fiduciary Update - 15 months in

2, and really unforgivable in my experience - EF gave a 2nd HCE a higher contribution than all other participants other than the owner. EF didn't ask the owner how the other HCE was to be handled. I advised the owner to tell EF to give the HCE only the 3% SH contribution (NO PS contribution. This i...
by ERISA Stone
Thu Mar 22, 2018 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Employee Fiduciary Update - 15 months in
Replies: 12
Views: 1450

Re: Employee Fiduciary Update - 15 months in

Can you engage EF as a recordkeeper only and then hire an outside TPA? I doubt it but maybe. Most TPAs might be willing to do testing (we called this wrap services but that term can have several meanings depending on the company you're talking to) and not recordkeeping but I don't know of any who a...
by ERISA Stone
Wed Mar 21, 2018 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Employee Fiduciary Update - 15 months in
Replies: 12
Views: 1450

Re: Employee Fiduciary Update - 15 months in

smitcat wrote:
Wed Mar 21, 2018 7:02 am


The largest disappointment with the EF 401K remains participation and employees leaving the plan.
Then you don't have any issues with EF because this isn't in the scope of administering a 401k plan. That falls on the company and the advisor if you have one.
by ERISA Stone
Wed Mar 21, 2018 12:29 am
Forum: Personal Finance (Not Investing)
Topic: Employee Fiduciary Update - 15 months in
Replies: 12
Views: 1450

Employee Fiduciary Update - 15 months in

Since I have heaped quite a bit of praise on Employee Fiduciary since I signed up with them in 2017, I feel obligated to update the board on a few issues. I've always tried to understand how EF was able to offer such low rates and a premium service, and I think after this round of administration it'...
by ERISA Stone
Sun Feb 04, 2018 3:42 pm
Forum: Investing - Theory, News & General
Topic: why are people saying there is bond issues. BND only down 2% YTD
Replies: 29
Views: 3216

Re: why are people saying there is bond issues. BND only down 2% YTD

b) I thought bonds and stocks are inverse correlated. I'm not sure where this thought came from. There are lots of different types of bonds, treasury bonds, corporate bonds, municipal bonds, and within those categories, there are lot of different bond grades (with the exception of treasuries) and b...
by ERISA Stone
Sun Feb 04, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: 529 for private elementary school?
Replies: 26
Views: 1931

Re: 529 for private elementary school?

All it will take is for one state’s 529 plan to allow K-12 tuition, and anybody interested in a state refusing to allow them will head for the exits. Is there a precedent for this comment based on some other tax benefit? If I were in this situation, I would say, "man I wish I lived in that state." ...
by ERISA Stone
Tue Jan 30, 2018 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Reporting i401k contributions on 1120S
Replies: 29
Views: 1474

Re: Reporting i401k contributions on 1120S

I'm not sure what you want me to say here. I don't want to be disrespectful but I don't think you are interpreting the words correctly. My "argument" makes complete sense to me. If you want to apply Occam's Razor, have at it, but we are on the opposite sides of what exactly the simplest explanation...
by ERISA Stone
Tue Jan 30, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Reporting i401k contributions on 1120S
Replies: 29
Views: 1474

Re: Reporting i401k contributions on 1120S

theplayer11 wrote:
Tue Jan 30, 2018 11:41 am

Your last sentence is all that really matters.
I agree.
by ERISA Stone
Tue Jan 30, 2018 11:09 am
Forum: Personal Consumer Issues
Topic: Buying This Week: IPhone X or IPhone 8 Plus
Replies: 35
Views: 3386

Re: Buying This Week: IPhone X or IPhone 8 Plus

I'd go with the X. Screen is pretty much the same on both but the actual phone is much larger with plus. As I've said previously on this thread, that might be true in theory (square inches), but in reality X is narrower and harder to read. The real estate is more valuable on the Plus The X is easie...
by ERISA Stone
Tue Jan 30, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Reporting i401k contributions on 1120S
Replies: 29
Views: 1474

Re: Reporting i401k contributions on 1120S

^But the instructions for line 17 does state "or any other deferred compensation plan." It does say "deferred" but your comment ignores the first half of that sentence. I'm finished with this conversation because I feel comfortable in my stance and I don't think I'm going to change anyone's mind wh...
by ERISA Stone
Tue Jan 30, 2018 2:15 am
Forum: Personal Finance (Not Investing)
Topic: Reporting i401k contributions on 1120S
Replies: 29
Views: 1474

Re: Reporting i401k contributions on 1120S

Your argument makes no sense, because the part I didn't bold says; "or amounts contributed under a salary reduction SEP agreement or a SIMPLE IRA plan." So you are going to tell me that SARSEP and SIMPLE IRA employee deferrals do not get reported on lines 7&8, but 401k deferrals do? Not to mention ...
by ERISA Stone
Tue Jan 30, 2018 1:34 am
Forum: Personal Finance (Not Investing)
Topic: Reporting i401k contributions on 1120S
Replies: 29
Views: 1474

Re: Reporting i401k contributions on 1120S

Deferrals should be included under compensation on line 7 or 8 of the Form 1120. Line 17 is reserved for employER contributions. I understand that technically a salary deferral is an employER contribution made on behalf of the employEE but I can't recall seeing an accountant take this to mean defer...
by ERISA Stone
Mon Jan 29, 2018 9:33 pm
Forum: Personal Consumer Issues
Topic: Buying This Week: IPhone X or IPhone 8 Plus
Replies: 35
Views: 3386

Re: Buying This Week: IPhone X or IPhone 8 Plus

lazydavid wrote:
Sat Jan 27, 2018 7:18 am
ERISA Stone wrote:
Fri Jan 26, 2018 12:18 am
I've had the 6s Plus and the 7s Plus, and now I have the X.
There's no such thing as a 7s. They released the 8 instead.
7 Plus then? I get the models mixed up.
by ERISA Stone
Mon Jan 29, 2018 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Reporting i401k contributions on 1120S
Replies: 29
Views: 1474

Re: Reporting i401k contributions on 1120S

Deferrals should be included under compensation on line 7 or 8 of the Form 1120. Line 17 is reserved for employER contributions. I understand that technically a salary deferral is an employER contribution made on behalf of the employEE but I can't recall seeing an accountant take this to mean deferr...
by ERISA Stone
Fri Jan 26, 2018 9:14 pm
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 1068
Views: 84851

Re: To take or not to take delivery of Tesla 3

I went through a test drive at Tesla yesterday. The salesman said they're being told the tax credit will start to phase out in May. It could be a ploy to sell me a car, but if so, I would think he would've picked an earlier month. Those guys often don't know what they're talking about from what I'v...
by ERISA Stone
Fri Jan 26, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff 401K loan early?
Replies: 35
Views: 56857

Re: Payoff 401K loan early?

I never thought this was a good idea, plus the amount is very limiting, $50k, not a big amount to arbitrage one way or the other. But if you need money and has to do it then you have to do it. If you are only going to borrow money because the 401k loan is available, it's a bad idea. If you are goin...
by ERISA Stone
Fri Jan 26, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff 401K loan early?
Replies: 35
Views: 56857

Re: Payoff 401K loan early?

How has no one pointed out the obvious? Taking loans out of 401(k)'s are extremely detrimental because of double taxation. Because it's not really true. https://thefinancebuff.com/401k-loan-double-taxation-myth.html most plans specify that you can't contribute to your plan while the loan is outstan...
by ERISA Stone
Fri Jan 26, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Payoff 401K loan early?
Replies: 35
Views: 56857

Re: Payoff 401K loan early?

How has no one pointed out the obvious? Taking loans out of 401(k)'s are extremely detrimental because of double taxation. Because it's not really true. https://thefinancebuff.com/401k-loan-double-taxation-myth.html most plans specify that you can't contribute to your plan while the loan is outstan...
by ERISA Stone
Fri Jan 26, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: Travel to Poland, Estonia, Lithuania: is it worth it?
Replies: 29
Views: 2689

Re: Travel to Poland, Estonia, Lithuania: is it worth it?

I lived in Poland for a while. At the time, it was a hidden gem. I don't think that's the case anymore. I was about 1.5 hours by train from Krakow and went there every time I had the chance. It's a great city. If you go to Poland, it should be a requirement to go to Auschwitz. It's an emotionally he...
by ERISA Stone
Fri Jan 26, 2018 12:18 am
Forum: Personal Consumer Issues
Topic: Buying This Week: IPhone X or IPhone 8 Plus
Replies: 35
Views: 3386

Re: Buying This Week: IPhone X or IPhone 8 Plus

I've had the 6s Plus and the 7s Plus, and now I have the X. I would be a little bummed if I had to go back to one of the plus sizes. I love the size of the X and it seems the screen seems to be crisper than the pluses. Also, I hardly ever use the camera but my wife is constantly getting asked if her...
by ERISA Stone
Wed Jan 24, 2018 7:09 pm
Forum: Investing - Help with Personal Investments
Topic: HCE/mega backdoor Roth risk?
Replies: 14
Views: 1215

Re: HCE/mega backdoor Roth risk?

I've mentioned this several times on the website but in practice, I have either seen 1 actual after-tax contribution or none. As time goes by, I really can't remember. I'm guessing I've been involved in reviewing testing on somewhere between 400-600 plans. The reality is after-tax contributions are...
by ERISA Stone
Wed Jan 24, 2018 10:14 am
Forum: Investing - Help with Personal Investments
Topic: HCE/mega backdoor Roth risk?
Replies: 14
Views: 1215

Re: HCE/mega backdoor Roth risk?

One observation I'll throw out there is that this ACP testing issue for HCEs hasn't received nearly enough mention in the various articles, blogs, etc. about the virtues of the mega backdoor Roth. Kind of surprising, at least to me, since it often (but not always, of course) suggests a fairly high ...
by ERISA Stone
Tue Jan 23, 2018 9:40 pm
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 1068
Views: 84851

Re: To take or not to take delivery of Tesla 3

I went through a test drive at Tesla yesterday. The salesman said they're being told the tax credit will start to phase out in May. It could be a ploy to sell me a car, but if so, I would think he would've picked an earlier month.
by ERISA Stone
Mon Jan 22, 2018 10:54 am
Forum: Personal Finance (Not Investing)
Topic: After Tax 401K, 401a Limits
Replies: 15
Views: 1475

Re: After Tax 401K, 401a Limits

What does your inclusion of 401k and 401a in the title mean. Are the two plans both 401k plans or a 401k and a 401a plan? 401a pre-tax contributions are considered mandatory contributions and are not included in the employee deferral limit. There is a separate annual addition limit (2018 = $55K) fo...
by ERISA Stone
Thu Jan 18, 2018 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Take a 401k Loan?
Replies: 43
Views: 2510

Re: Take a 401k Loan?

There is also a freeze period (3-6 months) that prevent you contributing to your 401k after you take a loan or distribution. While a plan can suspend 401k contributions when a participant takes a loan, this is not the norm. I believe you're thinking about hardship distributions. in which there is a...
by ERISA Stone
Wed Jan 17, 2018 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Solo401K Deposit Deadline Rules Different?
Replies: 4
Views: 342

Re: Spousal Solo401K Deposit Deadline Rules Different?

For additional information, please see Spirit Rider's post in the link about a qualified joint venture, assuming your wife isn't a W-2 employee.

viewtopic.php?t=209448
by ERISA Stone
Wed Jan 17, 2018 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Spousal Solo401K Deposit Deadline Rules Different?
Replies: 4
Views: 342

Re: Spousal Solo401K Deposit Deadline Rules Different?

If you are a sole proprietor you can make 401k contributions up to the filing deadline. If your wife was an S-corp, for example, and received W-2 income, the 401k contributions would have to be made through payroll. Since there is no payroll for a sole proprietor, this isn't an issue. For this state...
by ERISA Stone
Tue Jan 16, 2018 10:48 pm
Forum: Investing - Help with Personal Investments
Topic: How exactly is the $55,000 limit on a 401k counted?
Replies: 1
Views: 692

Re: How exactly is the $55,000 limit on a 401k counted?

Vesting isn’t considered for the limit. The contribution is considered for the year in which it is attributable. So even though the contribution is deposited in 2018, it’s considered for the 2017 annual additions limit.
by ERISA Stone
Mon Jan 15, 2018 7:47 pm
Forum: Investing - Theory, News & General
Topic: Best 401k Employer Match Structure
Replies: 115
Views: 10344

Re: Best 401k Employer Match Structure

I've worked for about a dozen companies in the past 32 years that I've worked as an electrical design engineer. I've made a bit of a study of 401k matching. Many of the startups I've worked for offer zero match. The highest match I've ever received was 8%. My current employer is a Fortune 500 compa...
by ERISA Stone
Mon Jan 15, 2018 6:43 pm
Forum: Investing - Theory, News & General
Topic: Best 401k Employer Match Structure
Replies: 115
Views: 10344

Re: Best 401k Employer Match Structure

My company matches 100% on 7% of compensation. 100% Vesting after 1 year. We also have a pension on 3-year vesting. The best I've heard is Saudi Aramco, which matches 9%. Best? Nope. Read the third post above this. TravelforFun I had one client who, IIRC, for anyone who made over $55k who was able ...
by ERISA Stone
Sun Jan 14, 2018 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Suggestions for Ideal 401k Fund Lineup
Replies: 11
Views: 828

Re: Suggestions for Ideal 401k Fund Lineup

total US total INTL total BND Vanguard or Fidelity Index TDF brokerage account for those that want to buy other fancy things anything past that is getting into the weeds. Our plan is with Employee Fiduciary. I selected the lineup above and added a REIT since I like to have approximately 5% of our p...
by ERISA Stone
Sun Jan 14, 2018 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Very Small Companies and HCE Tests
Replies: 3
Views: 415

Re: Very Small Companies and HCE Tests

I am exploring options for retirement savings, and discovered HCE (highly compensated employee) rules for 401(k) plans. In a company with very few employees who ALL own more than 5% of the company (as in every single employee is considered a HCE) does the IRS still expect HCEs to contribute not sig...
by ERISA Stone
Sun Jan 14, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Suggestions for Ideal 401k Fund Lineup
Replies: 11
Views: 828

Re: Suggestions for Ideal 401k Fund Lineup

total US total INTL total BND Vanguard or Fidelity Index TDF brokerage account for those that want to buy other fancy things anything past that is getting into the weeds. Our plan is with Employee Fiduciary. I selected the lineup above and added a REIT since I like to have approximately 5% of our p...
by ERISA Stone
Fri Jan 12, 2018 3:16 pm
Forum: Investing - Help with Personal Investments
Topic: 401k loan vs selling taxable
Replies: 9
Views: 657

Re: 401k loan vs selling taxable

Piggybacking on bberris....Not only would an 11 month loan from your 401k cause you to miss out on whatever gains, but you will be taxed twice. When you repay the 401k loan, you will be repaying with after-tax money. Then many years later when you take a formal distribution, you will be taxed on th...
by ERISA Stone
Fri Jan 12, 2018 3:12 pm
Forum: Investing - Help with Personal Investments
Topic: 401k loan vs selling taxable
Replies: 9
Views: 657

Re: 401k loan vs selling taxable

Allowing 401k loans to terminated participants? :shock: I'm glad you have the option but I'm having trouble fathoming a plan sponsor allowing this in a plan. What's the problem? The sponsor is not at risk. Yes, they are if they don't administer the loan properly. I don't know why an employer would ...
by ERISA Stone
Fri Jan 12, 2018 3:12 pm
Forum: Investing - Theory, News & General
Topic: Best 401k Employer Match Structure
Replies: 115
Views: 10344

Re: Best 401k Employer Match Structure

capsaicinguy wrote:
Fri Jan 12, 2018 1:16 pm

AKA instead of paying someone 50k/year, offer 40k salary + 10k 401k contribution.
This wouldn't work for the average person. Very few people are able to trade in their salary for a 25% retirement benefit.