Search found 1243 matches

by ERISA Stone
Sun Sep 17, 2017 7:27 am
Forum: Investing - Help with Personal Investments
Topic: What funds would you pick if you were creating you own small business 401k?
Replies: 21
Views: 1150

Re: What funds would you pick if you were creating you own small business 401k?

I set our 401k plan up to mimic the TSP, plus we added a REIT fund. Sometimes people just don't believe they can afford to defer. I offer a 4% safe harbor matching contribution at Employee Fiduciary and I pick up all of the costs of the plan. I have two people out of 9 who defer, excluding my wife ...
by ERISA Stone
Sun Sep 17, 2017 7:10 am
Forum: Investing - Help with Personal Investments
Topic: What funds would you pick if you were creating you own small business 401k?
Replies: 21
Views: 1150

Re: What funds would you pick if you were creating you own small business 401k?

I email them each month to remind them about the free money. I have never even received a reply back. In the plan that I was a fiduciary for, we set up auto-enrollment and gave 1% a year in the plan whether an employee contributed or not. In addition, a match was added to employee contributions. Su...
by ERISA Stone
Fri Sep 15, 2017 11:50 pm
Forum: Personal Consumer Issues
Topic: Podcast Request - something similar to S-Town or Serial
Replies: 2
Views: 262

Podcast Request - something similar to S-Town or Serial

I've got an 8-hour drive ahead of me tomorrow and I was hoping to find a podcast in a similar style to S-Town or Serial that I could binge most of the trip. Any suggestions?
by ERISA Stone
Fri Sep 15, 2017 11:48 pm
Forum: Investing - Help with Personal Investments
Topic: What funds would you pick if you were creating you own small business 401k?
Replies: 21
Views: 1150

Re: What funds would you pick if you were creating you own small business 401k?

I set our 401k plan up to mimic the TSP, plus we added a REIT fund. Sometimes people just don't believe they can afford to defer. I offer a 4% safe harbor matching contribution at Employee Fiduciary and I pick up all of the costs of the plan. I have two people out of 9 who defer, excluding my wife a...
by ERISA Stone
Fri Sep 15, 2017 3:42 pm
Forum: Investing - Theory, News & General
Topic: Help! - How to improve small company 401k?
Replies: 19
Views: 1688

Re: Help! - How to improve small company 401k?

All - Thanks so much for the help! It never occurred to me to check the wiki for this topic - that is exactly what I need to guide me. I'll need to give that a close read. According to my wife the only people within the company involved with this decision are the President and the Controller. The f...
by ERISA Stone
Fri Sep 15, 2017 3:42 pm
Forum: Investing - Theory, News & General
Topic: Help! - How to improve small company 401k?
Replies: 19
Views: 1688

Re: Help! - How to improve small company 401k?

A couple of things based on some comments in this post. 1. There isn't really a list of fiduciaries for a retirement plan. It really depends on the authority someone or a group has in making decisions. If one were the janitor in title but were making decisions on behalf of the plan, he would likely ...
by ERISA Stone
Fri Sep 15, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: "What We Know and Don’t Know About the Equifax Hack"
Replies: 6
Views: 966

Re: "What We Know and Don’t Know About the Equifax Hack"

It is different because what is being stolen is your full identity. In other breach, your single credit card or single account was compromised. Also almost every single adult in USA has been affected if the numbers are accurate. My understanding is that even your answers to your security questions ...
by ERISA Stone
Thu Sep 14, 2017 10:02 am
Forum: Personal Consumer Issues
Topic: Iphone X is $1000
Replies: 311
Views: 16296

Re: Iphone X is $1000

fillary wrote:
Thu Sep 14, 2017 6:42 am
with each year Apple products become more and more expensive, in such way they may lose their "fans"

#quotesIvebeenhearingsince2010
by ERISA Stone
Wed Sep 13, 2017 11:13 pm
Forum: Investing - Help with Personal Investments
Topic: Reaching 401k Max
Replies: 15
Views: 1334

Re: Reaching 401k Max

For those that are only allowed to contribute a percentage, and whose employers don't automatically stop at 18k, I feel for you. I guess you have to decide if you'd rather undershoot and not quite hit 18k, or overshoot and deal with withdrawing the excess. I would probably do the former since my HR...
by ERISA Stone
Wed Sep 13, 2017 10:56 am
Forum: Personal Consumer Issues
Topic: Iphone X is $1000
Replies: 311
Views: 16296

Re: Iphone X is $1000

I don't understand how interesting posts with helpful advice get shut down after 5 comments but somehow whinging about the costs of a pocket computer can go on for 3 pages.
by ERISA Stone
Fri Sep 08, 2017 8:55 pm
Forum: Personal Consumer Issues
Topic: Freeze Credit for free without police report
Replies: 26
Views: 2421

Re: Freeze Credit for free without police report

Another thing Clark mentioned - he received different answers from the Equifax website on if he was likely affected or not. He received one answer that he probably wasn't, and another that he probably was.
by ERISA Stone
Fri Sep 08, 2017 8:29 pm
Forum: Personal Consumer Issues
Topic: Freeze Credit for free without police report
Replies: 26
Views: 2421

Re: Freeze Credit for free without police report

Clark Howard's website includes a post from Equifax that states this cybersecurity breach is not included when their contract refers to waiving your rights to a class action lawsuit. http://clark.com/personal-finance-credit/equifax-free-credit-monitoring-data-breach-dont-sign-up/?utm_medium=image-li...
by ERISA Stone
Fri Sep 08, 2017 1:26 pm
Forum: Personal Consumer Issues
Topic: Buy iPhone 7 or Wait for iPhone 8
Replies: 53
Views: 7303

Re: Buy iPhone 7 or Wait for iPhone 8

The iPhone 8 will start at $999. That is 10 of my Moto G4 and 5 Moto G5/G5 plus. The headphone jack can be replaced with a small adapter, but I'm not sure you want to have the adapter in your pocket at all times. The premium for Apple products is just crazy. They are good products, but I can buy a ...
by ERISA Stone
Wed Sep 06, 2017 7:57 am
Forum: Personal Finance (Not Investing)
Topic: When to give resignation notice
Replies: 63
Views: 6085

Re: When to give resignation notice

What are the consequences to you if you don't give 3 months notice? I've had employers honor my notice, and I've had others who "walked me out the door" the moment I gave notice. I'm not concerned with the percentage of your portfolio we are discussing. If we are talking $45k, I would do what I need...
by ERISA Stone
Mon Sep 04, 2017 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: small claim for 401k
Replies: 12
Views: 1027

Re: small claim for 401k

If the matching contribution was given, then I think you have an argument. However, it sounds like the match is technically discretionary based on your description of the SPD. But if the company is handing out the other summary you mentioned, they probably provide the match even though it may techni...
by ERISA Stone
Mon Sep 04, 2017 10:07 am
Forum: Personal Finance (Not Investing)
Topic: small claim for 401k
Replies: 12
Views: 1027

Re: small claim for 401k

It's difficult to give you advice without knowing the specific provisions of your plan. Plans can have different eligibility requirements, vesting provisions, etc. To help to see if the company erred, we would at least need to know: 1. Husband's date of hire and number of hours he worked each year (...
by ERISA Stone
Sat Sep 02, 2017 11:58 am
Forum: Personal Finance (Not Investing)
Topic: If I died today, what would my spouse do?
Replies: 69
Views: 13822

Re: If I died today, what would my spouse do?

My wife has no interest either so I keep a detailed spreadsheet in our dropbox account so she knows what we have. I try to annoy her by telling her I could be paying for a mistress and she would have no idea, so she should get involved in the finances. She just gives me a look that says she's not wo...
by ERISA Stone
Thu Aug 31, 2017 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Discover Identity - Does Anyone Use It for Credit Monitoring?
Replies: 1
Views: 204

Discover Identity - Does Anyone Use It for Credit Monitoring?

I received an offer from Discover that they can provide alerts if my SSN shows up on any risky websites. In addition, they'll notify me if any new accounts show up on my Experian credit reports. I don't see a downside in the terms other than this: You authorize Discover to obtain your credit report ...
by ERISA Stone
Wed Aug 30, 2017 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Company 401k is incorrectly dealing with over 50 catch up contribution
Replies: 35
Views: 2845

Re: Company 401k is incorrectly dealing with over 50 catch up contribution

Technically, there is no $60,000 limit The IRS would disagree with you: Overall limit on contributions 100% of the participant's compensation, or $54,000 ($60,000 including catch-up contributions) for 2017 The IRS may just be putting it in layman's terms. The regs say the contributions are not take...
by ERISA Stone
Wed Aug 30, 2017 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Company 401k is incorrectly dealing with over 50 catch up contribution
Replies: 35
Views: 2845

Re: Company 401k is incorrectly dealing with over 50 catch up contribution

Virtually every feature of a 401k plan is optional. For example, a plan doesn't have to allow the full $18k in deferrals if they don't want. There's no good reason to do that, just like there's no good reason not to allow catch-up contributions. But the plan still has to allow for it. Thanks for th...
by ERISA Stone
Wed Aug 30, 2017 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Company 401k is incorrectly dealing with over 50 catch up contribution
Replies: 35
Views: 2845

Re: Company 401k is incorrectly dealing with over 50 catch up contribution

Yes, the catch-up contribution is an optional feature. An employer does not have to offer catch-up contributions. I'm confused on how this can be an "optional feature" when there's explicit IRS regulations that allow it. Technically, there is no $60,000 limit The IRS would disagree with you: Overal...
by ERISA Stone
Wed Aug 30, 2017 11:14 am
Forum: Personal Finance (Not Investing)
Topic: How do loans from solo 401k work?
Replies: 11
Views: 771

Re: How do loans from solo 401k work?

Sorry, I didn't mean to sound skeptical that it exists. I just don't know how they get around the anti-assignment rules with this arrangement. In my experience, anti-assignment rules are very cut and dry. For example, see this story when a company tried to take 401k funds of a former employee who s...
by ERISA Stone
Tue Aug 29, 2017 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: How do loans from solo 401k work?
Replies: 11
Views: 771

Re: How do loans from solo 401k work?

2. If permitted, the loan is AGAINST your Solo 401K, it is not FROM your Solo 401K. The provider loans you money with your Solo 401K as collateral. No money comes out of your Solo 401K unless you default on the loan payments. [edit] I borrowed against a company-sponsored 401K for some expenses. The...
by ERISA Stone
Tue Aug 29, 2017 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: How do loans from solo 401k work?
Replies: 11
Views: 771

Re: How do loans from solo 401k work?

2. If permitted, the loan is AGAINST your Solo 401K, it is not FROM your Solo 401K. The provider loans you money with your Solo 401K as collateral. No money comes out of your Solo 401K unless you default on the loan payments. [edit] I borrowed against a company-sponsored 401K for some expenses. The...
by ERISA Stone
Tue Aug 29, 2017 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: How do loans from solo 401k work?
Replies: 11
Views: 771

Re: How do loans from solo 401k work?

So I'm in pretty dire financial situation, but I have low 6 figures in my solo 401k. I'd prefer not to withdraw and pay 10% fee and income tax. How exactly does the loan work? Also if I withdraw is there option like a Roth where you can repay within 60 days and not incur the fee? You say you're in ...
by ERISA Stone
Tue Aug 29, 2017 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Company 401k is incorrectly dealing with over 50 catch up contribution
Replies: 35
Views: 2845

Re: Company 401k is incorrectly dealing with over 50 catch up contribution

Can you provide dialogue between you and your company (and remove any identifying information) so we can provide feedback?
by ERISA Stone
Mon Aug 28, 2017 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: 401k match [company withholding income to offset company match]
Replies: 21
Views: 1456

Re: 401k match [company withholding income to offset company match]

I posted your situation on benefitslink. I only received a few responses but all made mention of allowing the participant to have discretion is likely a CODA arrangement. They were ok with the profit sharing aspect, and I read that they would be ok with a safe harbor nonelective since it is a clearl...
by ERISA Stone
Fri Aug 25, 2017 8:48 am
Forum: Personal Consumer Issues
Topic: Braves day game seats - any sections in shade?
Replies: 7
Views: 730

Re: Braves day game seats - any sections in shade?

The 1st base line looks to be your best bet. There appear to be some seats just below the 2nd deck. I assume those would be shaded most, if not all, of the time.
by ERISA Stone
Tue Aug 22, 2017 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: 401k match [company withholding income to offset company match]
Replies: 21
Views: 1456

Re: 401k match [company withholding income to offset company match]

Although, in both cases I know, the employer was a university or similar non-profit. This is not my area of expertise but I think your last line is important. I found this information about 414 plans when researching this issue. https://www.irs.gov/government-entities/federal-state-local-government...
by ERISA Stone
Tue Aug 22, 2017 3:41 pm
Forum: Personal Consumer Issues
Topic: iPhone upgrade through Apple vs through carrier
Replies: 19
Views: 1707

Re: iPhone upgrade through Apple vs through carrier

On the Apple plan, don't you simply turn in your phone when you upgrade? If so, you are losing any equity you may have in your old phone. Well they give you a reimbursement for turning it in. Probably not as much as you'd get for selling on the private market though. Thanks. I would just weigh that...
by ERISA Stone
Tue Aug 22, 2017 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: 401k match [company withholding income to offset company match]
Replies: 21
Views: 1456

Re: 401k match [company withholding income to offset company match]

Monroechompers wrote:
Tue Aug 22, 2017 2:50 pm
I have asked many other employed physicians, office manager for large practices, parners in large practices, a cfo that rns a large company retirement plan, and a tax attorney off the record.
What's the consensus from this group?
by ERISA Stone
Tue Aug 22, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: 401k match [company withholding income to offset company match]
Replies: 21
Views: 1456

Re: 401k match [company withholding income to offset company match]

neurosphere wrote:
Tue Aug 22, 2017 2:14 pm


I'm not sure what you mean by "working around the individual max". Which max?

The max is $18k. If they're reducing his compensation by more than $18k and classifying as an employer contribution, they are in effect creating a workaround of the $18k limit.
by ERISA Stone
Tue Aug 22, 2017 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: 401k match [company withholding income to offset company match]
Replies: 21
Views: 1456

Re: 401k match [company withholding income to offset company match]

What does your plan document say about plan compensation for contribution purposes? It supersedes your employment contract. I can't say for sure it's illegal, but it feels incredibly unethical. If you are a W-2 employee (nonpartner), I just don't see how they could do this. As it was alluded to, the...
by ERISA Stone
Tue Aug 22, 2017 8:01 am
Forum: Personal Consumer Issues
Topic: iPhone upgrade through Apple vs through carrier
Replies: 19
Views: 1707

Re: iPhone upgrade through Apple vs through carrier

On the Apple plan, don't you simply turn in your phone when you upgrade? If so, you are losing any equity you may have in your old phone.
by ERISA Stone
Fri Aug 18, 2017 12:51 pm
Forum: Investing - Theory, News & General
Topic: Plaintiffs win Tibble v Edison (re: lower fees in 401k's)
Replies: 3
Views: 839

Re: Plaintiffs win Tibble v Edison (re: lower fees in 401k's)

In my opinion, this is not a victory for lower fees in a retirement plan. The sponsor didn't lose this case because high-fee, actively managed funds were provided. They lost because the exact same funds they offered were available at a lower cost. Honestly, I don't know how this happens with a plan ...
by ERISA Stone
Thu Aug 17, 2017 10:49 am
Forum: Personal Finance (Not Investing)
Topic: 27y/o w/ 150k debt buying 685k house
Replies: 41
Views: 4575

Re: 27y/o w/ 150k debt buying 685k house

A number of years ago I visited my best friend from high school. His wife had died soon after they'd bought a nice home near the beach in Florida. He now had a girlfriend who owned a condo, and they were making plans to move into her condo together. (Both were real estate agents.) Even before they ...
by ERISA Stone
Fri Aug 11, 2017 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: $50k loan from 401k for house
Replies: 21
Views: 1575

Re: $50k loan from 401k for house

I have $200k in my 401k and we are in the process of closing a 424k house with 340k mortgage. We don't need the money to pay for the down payment. The crazy thought we have is should we each take 50k from our 401ks and knock that mortgage by and then pay that interest ourselves? Is 50k limit per ho...
by ERISA Stone
Fri Aug 04, 2017 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: MySolo401k.net
Replies: 8
Views: 740

Re: MySolo401k.net

"take advantage of aftertax (nonRoth) contributions. " ->"No i401(k) providers offers this feature for free. " Does anyone happens to know a good site doing comparison of the costs associated with plans that have such options? I have mostly read The Finance Guy blog post on the plan he created manu...
by ERISA Stone
Fri Aug 04, 2017 10:53 am
Forum: Investing - Help with Personal Investments
Topic: Going from pooled company 401k to Participant-directed 401K accounts - issues and hurdles
Replies: 12
Views: 734

Re: Going from pooled company 401k to Participant-directed 401K accounts - issues and hurdles

It's not common but I have worked with a few actuaries on defined contribution plans. Sometimes it just happens to be a component of their business. Anecdotally, it is usually a little higher, but not egregious.
by ERISA Stone
Thu Aug 03, 2017 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: MySolo401k.net
Replies: 8
Views: 740

Re: MySolo401k.net

As others have mentioned, there is generally no need to pay for an individual 401(k) plan. The only reason I can think of is if you want to take advantage of aftertax (nonRoth) contributions. No i401(k) providers offers this feature for free. Other than that the only difference I see is: Consultatio...
by ERISA Stone
Thu Aug 03, 2017 10:31 am
Forum: Investing - Help with Personal Investments
Topic: Burned out at 28. Do I have enough?
Replies: 62
Views: 9799

Re: Burned out at 28. Do I have enough?

I fall in the "life is too short" crowd. I was burned out on my first career at 25. I didn't save often. I spent most of my money back then. I moved to Europe to teach English for a year. I think I had about $10k saved at the time, and it was used to pay commitments back home. I spent my last $$ on ...
by ERISA Stone
Wed Aug 02, 2017 8:17 am
Forum: Personal Finance (Not Investing)
Topic: 401k Eligibility: Should I have to wait 17.5 months?
Replies: 8
Views: 939

Re: 401k Eligibility: Should I have to wait 17.5 months?

In a previous job I was told one thing about my 401k eligibility during the initial job negotiations with the owner/CEO and was told something else after the fact by the HR representative when I was onboarded. I forget the specifics but I was kept out of the company's 401k for a few months more tha...
by ERISA Stone
Fri Jul 14, 2017 4:40 pm
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 19
Views: 1355

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

Regarding the retirement plan discussion, there are a few limits in play: 1. 402(g) Limit - 100% of compensation up to $18k ($24k if over age 50). This is the employEE deferral limit (excludes nonRoth aftertax conributions). The 18k is an individual limit and is spread across ALL retirement plans in...
by ERISA Stone
Fri Jul 14, 2017 10:01 am
Forum: Personal Consumer Issues
Topic: Suing soon to be former employer, do I have a case?
Replies: 17
Views: 2050

Re: Suing soon to be former employer, do I have a case?

Something tells me the legal department is well aware of this strategy.
by ERISA Stone
Fri Jul 14, 2017 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Contributing the entire Year 401K in one Pay period allowed?
Replies: 22
Views: 3267

Re: Contributing the entire Year 401K in one Pay period allowed?

Agree with above. However, one thing to be mindful of is if you leave your employer before the true-up is done you "may not" be entitled to it. This happened to me my last year of work. Contributed the max ($24K) in the first two months of the year (then retired). Company plan required I be employe...
by ERISA Stone
Fri Jul 14, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy this house?
Replies: 50
Views: 4537

Re: Should I buy this house?

Maybe I'm too confined to my little bubble.....but why are the property taxes so high on this property? Is there a lot of land, or are some areas simply that high? I was wondering the same thing. That's over 2% property tax, which I've never heard of. 2-3% is par for the course in Texas. It's about...
by ERISA Stone
Fri Jul 14, 2017 9:47 am
Forum: Investing - Help with Personal Investments
Topic: 401k Funds Available for Business
Replies: 5
Views: 368

Re: 401k Funds Available for Business

One strategy to keep things simple is to replicate (as closely as possible) the choices in the federal government's TSP program (tsp.gov) while also keeping fees as low as possible. This is what I do. I would pick those Vanguard target dates and be done. Just curious - do you have to go with Payche...
by ERISA Stone
Fri Jul 14, 2017 9:33 am
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 19
Views: 1355

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

The LLC makes it a little more difficult to control the income for you, but you could consider lowering your income and increasing hers for your company so that you both make enough to max out pre-tax sources in the solo(k). My wife and I operate a business together and when we had a solo(k), our co...
by ERISA Stone
Thu Jul 06, 2017 2:11 pm
Forum: Investing - Theory, News & General
Topic: Convert SEP IRA to Solo 401 K
Replies: 12
Views: 920

Re: Convert SEP IRA to Solo 401 K

You can not have a 5305-SEP plan at the same time as a 401k. Most mainstream SEP IRA custodians (Vanguard, Fidelity, etc...) only offer a 5305-SEP plan. One notable exception is Schwab. They offer a prototype SEP plan that can be used in conjunction with a one-participant 401k. This late in the yea...
by ERISA Stone
Wed Jul 05, 2017 2:06 pm
Forum: Investing - Help with Personal Investments
Topic: 45yo 18M portfolio, best way to grow?
Replies: 47
Views: 6752

Re: 45yo 18M portfolio, best way to grow?

Do you own the $12M in housing/rental outright, or are there mortgages attached. If so, what's the debt total?