Enmgy Q-00078-15-o Series5 Docs 1 Cpe Hour For A Score Of At Least 70%

10 Questions | Total Attempts: 36

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Enmgy Q-00078-15-o Series5 Docs 1 Cpe Hour For A Score Of At Least 70%

SEPT/OCT 2015 - SERIES 5 2015DOCUMENTS & DISCLOSURESPlease indicate whether each of the following statements is TRUE or FALSE


Questions and Answers
  • 1. 
    The timing rules for Safe Harbor 401(k) Plan notices require that these annual disclosures are delivered to eligible plan participants at least 30 days, but not more than 90 days, before the first day of the next plan year.
    • A. 

      True

    • B. 

      False

  • 2. 
    A Plan amendment to implement a Safe Harbor 401(k) feature effective January 1, 2016, must be adopted at least 30 days before its effective date. 
    • A. 

      True

    • B. 

      False

  • 3. 
    If there is a failure by the ERISA Plan Administrator to provide a safe harbor notice, the plan sponsor cannot “opt out” of safe harbor plan status for the year simply by performing the ADP/ACP tests for the year of the failure.
    • A. 

      True

    • B. 

      False

  • 4. 
    The IRS is concerned that failures by an ERISA Plan Administrator to timely deliver Safe Harbor 401(k) notices to eligible employees can also mean that these employees who were overlooked for notice purposes were not given plan enrollment materials, creating a need for the employer to make a corrective contribution to make up for any missed deferral opportunity or missed matching contribution. 
    • A. 

      True

    • B. 

      False

  • 5. 
    If an eligible employee did not receive a required Safe Harbor 401(k) notice for the 2015 calendar plan year but HR staff verbally informed the employee that the employer’s commitment to make a safe harbor matching contribution was intended for the upcoming year (in accordance with the same basic match contribution formula as applicable in previous plan years), then the employer would not have to be concerned about making a corrective contribution to make up for any missed deferral opportunity or missed matching contribution with respect to that employee who was informed. 
    • A. 

      True

    • B. 

      False

  • 6. 
    The timing rules for Auto-Enrollment notices require that these annual disclosures are delivered to eligible plan participants at least 30 days, but not more than 90 days, before the first day of the next plan year. 
    • A. 

      True

    • B. 

      False

  • 7. 
    Notices to comply with QDIA requirements must be provided not just to active participants who are eligible employees but also to terminated employees with vested benefits still held by the plan and any alternate payees with QDRO benefits pending distribution or beneficiaries with death benefits pending distribution. 
    • A. 

      True

    • B. 

      False

  • 8. 
    The timing rules for the annual 404a5 notices are determined based on Department of Labor guidelines. 
    • A. 

      True

    • B. 

      False

  • 9. 
    The timing rules for the annual 404a5 notices do not automatically sync with the more traditional 30 to 90 day window period for other annual disclosures that are required by law. 
    • A. 

      True

    • B. 

      False

  • 10. 
    An ERISA Plan Administrator for a 401(k) plan with participant-directed investments is in compliance with the ERISA 404a5 notice timing rules based on the following fact pattern:  The employer delivered their initial 404a5 notices on July 31, 2012; their 2013 404a5 notices on October 15, 2013; their 2014 404a5 notices on October 10, 2014: and they intend to deliver their 2015 404a5 notices on November 15, 2015 
    • A. 

      True

    • B. 

      False

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