Art of the Qualified Plan Audit

Compliance starts with understanding. Understanding the rules set forth in Notice 2014-54, assisted us with the application of the rules in a situation in which a participant was entitled to take a distribution from his after-tax account only, in a qualified plan that provides and separately accounts for:

Whether it is when we are growing up, in school, or in our careers, we tend to gravitate towards those who are most like us and form groups.

Lack of clarity causes frustration. The topic of how to properly allocate the pretax and after-tax amounts attributable to distributions from qualified plan accounts that include Roth 401(a) accounts or after-tax accounts has been a source of much debate in the retirement plan community.