Discussion:Social Security Integration
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| Revision as of 05:11, 1 February 2009 Riley2 (Talk | contribs) (See Reg §1.401() ← Previous diff |
Revision as of 05:39, 1 February 2009 Ss-cpa (Talk | contribs) (Well, I am not c) Next diff → |
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| {{ForumReplyPost|UserID=Riley2|Date=1 February 2009|Text=See Reg §1.401(l)-2. Also, the PPC 5500 Deskbook has a basic introduction to the Permitted Disparity rules and guidelines on setting intgration levels.}} | {{ForumReplyPost|UserID=Riley2|Date=1 February 2009|Text=See Reg §1.401(l)-2. Also, the PPC 5500 Deskbook has a basic introduction to the Permitted Disparity rules and guidelines on setting intgration levels.}} | ||
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| + | {{ForumReplyPost|UserID=Ss-cpa|Date=1 February 2009|Text=Well, I am not completely alone. The retirement plan administrative firm is actually doing the calculations, but what's tricky this year is the partners are making less than the max, so they have to calculate the accrued profit sharing liability to get their actual compensation. I wanted to have an understanding so as to get a rough number, but I will rely on the firm at the end of the day. I know the discussion is in the regs, but I wanted something a little more user friendly. BTW, I added a little blurb about myself.}} | ||
Revision as of 05:39, 1 February 2009
Discussion Forum Index --> Advanced Tax Questions --> Social Security Integration
Discussion Forum Index --> Tax Questions --> Social Security Integration
| 1 February 2009 | |
| Does anyone know where I can find a good article or guide for calculating social security integration (SSI)? As I understand, SSI is available for SEP's in addition to 401(k) and other qualified plans. Am I correct? Lastly, is it ok for a company to have a combination of a SEP and a SIMPLE plan? | |
| February 1, 2009 | |
| First of all, there's no such thing as integration any more; it's called permitted disparity.
What is it you want to calculate -- the benefits under a particular plan, or testing whether a plan will pass the nondiscrimination tests? Yes, SEP's may use permitted disparity (other than SARSEPs with respect to salary reduction contributions. No, a company with a SIMPLE may not have any other plans, including SEPs (and SIMPLE plans). | |
| 1 February 2009 | |
| I would like to be able to calculate the additional company contributions for partners who make over the social security wage base for a profit sharing plan now and possibly a SEP later, if they should terminate the profit sharing plan. | |
| 1 February 2009 | |
| Then do yourself a favor and get someone who has a lot more experience with retirement plans than you obviously do to do it. Point blank the penalties involved with miscalculating retirement plans and not following the rules explicitly are too heavy to do if you don't know what you are doing. It is something that should be learned under someone with experience not learned as you go. Also do us a favor and fill out your information. We are a friendly bunch here and like to know who we are talking to... | |
| 1 February 2009 | |
| See Reg §1.401(l)-2. Also, the PPC 5500 Deskbook has a basic introduction to the Permitted Disparity rules and guidelines on setting intgration levels. | |
| 1 February 2009 | |
| Well, I am not completely alone. The retirement plan administrative firm is actually doing the calculations, but what's tricky this year is the partners are making less than the max, so they have to calculate the accrued profit sharing liability to get their actual compensation. I wanted to have an understanding so as to get a rough number, but I will rely on the firm at the end of the day. I know the discussion is in the regs, but I wanted something a little more user friendly. BTW, I added a little blurb about myself. | |
