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Home My WebLink AboutDocumentation_Pension Public Safety_Tab 04_05/03/2010 THE LAW OFFICES OF PERRY & JENSEN, LLC ANN H. PERRY BONNI SPATARA JENSEN aperry @perryjensenlaw.com bsjensen@pe"jensenlaw.com March 26, 2010 VIA UPS OVERNIGHT DELIVERY Margaret Saito, ID #95 -02557 Voluntary Compliance Specialist Internal Revenue Service TEIGE Division 9350 Flair Drive T:EP:RA:VC:7554 El Monte, CA 91731 -2885 Re: VCP Request for Village of Tequesta Public Safety Officers Pension Trust Fund Control Number:911682093 DLN: 209062011 Employer Identification Number: 59- 6044081 Our File No.: 1011.0053 Dear Ms. Saito: This firm is the legal counsel for the Village of Tequesta Public Safety Officers Pension Trust Fund. Enclosed please find the following documents revised per our telephone conversation of March 25, 2010: 1. Revised Working Restatement with GUST proposed amendment; 2. Revised Working Restatement with EGTRRA proposed amendment; 3. Replacement page 1 for Appendix F, Schedule 1 Should you have any further questions, please do not hesitate to contact me. Sincerely yours, Bonni S. Jensen BSJ /adt Enclosures as noted Copy to: Chairman and Secretary Lori McWilliams Betty Laur H: \Tequesta PS 1011 \IRS Determination Letter\Post Submission\2010 -03 -25 IRS Cvr Ltr - VCP req.wpd 400 EXECUTIVE CENTER DRIVE, SUITE 207❖ WEST PALM BEACH, FLORIDA 33401 -2922 PH: 561.686.6550 0 Fx: 561.686.2802 Laur, Betty From: Angela D. Twomey langela @perryjensenlaw.com] Sent: Thursday, March 04, 2010 3:54 PM To: Robert Young; Giblin, Raymond; Chair - Ed Sabin; Cooper, David; Frank D'Ambra Cc: McWilliams, Lori; Laur, Betty; PensionTeamEmail Subject: Tequesta Public Safety (IRS Response to Request 2/18/10) Attachments: 2010-03-04 IRS Cvr Ltr - VCP req.pdf, 2010-02 -18 IRS req.pdf Attached please find documentation responsive to the request from the Internal Revenue Service (copy also attached). If you have any questions, please feel free to contact our office. Thank you and have a great day! Angela D. Twomey Legal Assistant - Pension Team of Bonni Jensen The Law Offices of Perry & Jensen, LLC 400 Executive Center Drive, Suite 207 West Palm Beach, Florida 33401 -2922 561.686.6550 (Phone) 561.686.2802 (Fax) CONFIDENTIALITY NOTICE: This communication is confidential, may be privileged and is meant only for the intended recipient. If you are not the intended recipient, please notify the sender ASAP and delete this message from your system. IRS CIRCULAR 230 NOTICE: To the extent that this message (or any portion thereof) concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. * ** eSafe scanned this email for malicious content * ** * ** IMPORTANT: Do not open attachments from unrecognized senders * ** 1 THE LAW OFFICES OF PERRY & JENSEN. LLC ANN H. PERRY BONNI SPATARA JENSEN aperry@perryjensenlaw.com bsjensen @penyjensenlaw.com March 4, 2010 VIA UPS OVERNIGHT DELIVERY Margaret Saito, ID #95 -02557 Voluntary Compliance Specialist Internal Revenue Service TE /GE Division 9350 Flair Drive T:EP:RA:VC:7554 El Monte, CA 91731 -2885 Re: VCP Request for Village of Tequesta Public Safety Officers Pension Trust Fund Control Number:911682093 DLN: 209062011 Employer Identification Number: 59- 6044081 Our File No.: 1011.0053 Dear Ms. Saito: This firm is the legal counsel for the Village of Tequesta Public Safety Officers Pension Trust Fund. This letter is in response to your request dated February 18, 2010 (enclosed) and the list of data needed included with that letter. In response to the List of Data Needed: A. GUST Plan Document amendments 1. See Working Restatement with GUST amendment (attached as Exhibit A) at Section 6 (Contributions). 2. See Working Restatement with GUST amendment (attached as Exhibit A) at Section 23(2). 3. See Working Restatement with GUST amendment (attached as Exhibit A) at Section 22(3)(B)(3). 400 EXECUTIVE CENTER DRIVE, SUITE 207%% WEST PALM BEACH, FLORIDA 33401 -2922 PH: 561.686.6550 a FX: 561.686.2802 13 Margaret Saito, ID #95 -02557 Voluntary Compliance Specialist, VC Group 7554 Internal Revenue Service VCP Request for Village of Tequesta Public Safety Officers Pension Trust Fund Control Number: 911682093 DLN:209062011 Employer Identification Number: 59- 6044081 March 4, 2010 Page 2 of 2 B. EGTRRA Plan Document amendments 1. See Working Restatement with GUST amendment which has been incorporated into the Working Restatement with EGTRRA Amendment (attached as Exhibit B) at Section 6 (Contributions) for the changes related to any excess annual contributions for picked up contributions. As to the DROP accounts, I will provide you with documentation regarding this provision in a separate communication. 2. See Working Restatement with GUST amendment which has been incorporated into the Working Restatement with EGTRRA Amendment (attached as Exhibit B) at Section 23(2). 3. See Working Restatement with GUST amendment which has been incorporated into the Working Restatement with EGTRRA Amendment (attached as Exhibit B) at Section 22(3)(B)(3). 4. See Working Restatement with EGTRRA amendment (attached as Exhibit B) at Section 2. 1 am also attaching as Exhibits C and D a copy of the stand alone amendments proposing and Ordinance amendment to the Village of Tequesta Code with the substance of the GUST and EGTRRA Restatements. Should you have any further questions, please do not hesitate to contact me. Sincerely yours, Bonni S. Jensen BSJ /adt Enclosures as noted Copy to: Chairman and Secretary Lori McWilliams Betty Laur HATequesta PS 1011 \IRS Determination LetterlPost SubmissionM10 -03 -04 IRS Cvr Ltr - VCP req.wpd ,LNT U REVENUE 6SHV1C:H LlSYlitC'11Yl.t,N'1' UR "Krm - 1 1ulft+ u -ml P. O. BOX 2508 CINCINNATI, OH 45201 Employer Identification Number: Date: 59- 6044081 DLN: VILLAGE OF TEQUESTA 209062011 C/O BONNI S JENSEN ESQ Person to Contact: 400 EXECUTIVE CENTER DR STE 207 MARGARET M. SAITO ID# 95038 WEST PALM BEACH, FL 33401 Contact Telephone Number: (626) 312 -3628 Plan Name: VILLAGE OF TEQUESTA PUBLIC SAFETY O FFICERS PENSION TRUST FUND Plan Number: 002 Refer Reply to: SE:T:EP:RA:VC:7554 Response Date: March 5, 2010 Dear Applicant: Thank you for the information you recently furnished about the plan identified above. Unfortunately, we need additional information before we can complete the processing of your request for a determination letter. Please furnish the information or amendments indicated on the enclosed list. Please submit the requested information or amendments by the response date. If we do not hear from you by that date we may either (1) close your case as incomplete, or (2) process your application on the basis of the infor- mation available, which could result in a determination that your plan is not qualified for favorable tax treatment. If you have any questions concerning this matter, or cannot meet the response date, please contact the person whose name and telephone number are shown above. When you send any information we requested or if you write to us with questions about this letter, please provide your telephone number and the most convenient time for us to call if we need to contact you. Please mail the information requested in this letter to the following address: Internal Revenue Service TE /GE Division 9350 Flair Drive, 2nd Floor ; El Monte, CA 91731 -2885 — a i �D � FW THE LAW Ori�5 OF PERRY & JEi�s�HL Letter 1955 (DC /PL) -2- VILLAGE OF TEQUESTA Thank you for your cooperation. Sincerely yours, Employee Plans Specialist Enclosure: List of Data Needed Letter 1955 (DC /PL) LIST OF DATA NEEDED PUBLIC SAFETY OFFICERS PENSION PLAN A. Please submit the following amendments for the GUST proposed document: 1. For treatment of excess annual additions for pick -up contributions, any excess annual additions should placed in an unallocated suspense account. 2. Section 23 (2) of GUST plan document should be amended to provide for 100% vesting for plan termination. The proposed amendment refers to the vesting 100% on repeal, The plan would also be required to vest 100% upon complete discontinuance of contributions. The plan should be amended accordingly. 3. Section 22(3)(B)(3) of the GUST plan document should be amended to provide that the domestic relations order comply with the provisions of 414(p)(1)(a)(i) of the Code. The citation on the proposed amendment refers to section 414(p)(1)(a)(1). It should be 414(p)(1)(a)(i). B. Please submit the following amendments for the EGTRRA proposed document: 1. For the treatment of excess annual additions for pick -up contributions for limitation years beginning prior to July 1, 2007, the employer should place the excess additions in an unallocated suspense account. The contributions to the DROP account are considered annual additions. Therefore the plan should be amended to include DROP contributions as annual additions. This definition may be included in either the 415 section or the DROP section. 2. Section 23(2) of the proposed EGTRRA plan document should be amended to provide for 100 11 /6 vesting on plan termination. It is not a requirement under 401(a) to vest 100% if the actuarially required contributions are discontinued. Whether or not the actuarial required contributions are made is a function of 412 of the Code. If the plan is subject to 412, there are penalties placed on the employer for failure to timely fund the plan. The plan would be required to vest 100% upon complete discontinuance of contributions. The plan should be amended accordingly. 3. Section 22(3)(B)(3) of the EGTRRA plan document should be amended to provide that the citation is section "414(p)(1)(A)(i) of the Code ". 4. The plan should be amended to defined Pension Fund. DEPARTMENT OF THE TREASURY INTERNAL REVENUE SERVICE WASHINGTON, D.C. 20224 ° t ; � N pQr TAX EXEMPT AND GOVERNMENT ENTITIES DIVISION Local contact address: B Z Internal Revenue Service SE:T:EP:RA:VC:7554 9350 Flair Dr. Bonni S. Jensen El Monte, CA 91731 -2885 c/o Hanson, Perry & Jensen, P.A. 400 Executive Center Dr. Ste. 207 West Palm Beach, FL 33401 Re: Compliance Statement for: Village of Tequesta Public Safety Officers Pension Trust Fund Control Number: 911682093 Employer Identification Number: 59- 6044081 Plan No.: 002 Dear Ms. Jensen: The enclosed documents are sent to you under the provisions of a power of attorney or other authorization currently on file with the Internal Revenue Service. If you have any questions, please contact Margaret Saito by phone at (626)312 -3628, ext. 5088 or by fax at (626)312 -5061. Sincerely, - — Cu� Get Margaret Saito Voluntary Compliance Specialist Group 7554 Enclosure rev. 06/05 aa� • ,...}.� DEPARTMENT OF THE TREASURY ® m •5 INTERNAL REVENUE SERVICE w WASHINGTON, D.C. 20224 •mil 46vEt�g�4 TAX EXEMPT AND GOVERNMENT ENTITIES DIVISION Date: February 18, 2010 Village Of Tequesta 345 Tequesta Drive Tequesta, FL 33469 Re VCP Request for: Village of Tequesta Public Safety Officers Pension Plan Control Number: 911682093 Employer Identification Number: 59- 6044081 Dear Sir or Madam: Thank you for submitted the information requested for your request submitted under the Voluntary Correction Program ( "VCP ") request for the plan identified above, but I need additional information before I can complete the processing of your request. Schedule 1 Appendix F submitted in your letter dated September 8, 2009 does not specifically identify the required good faith EGTRRA amendments are required. Please submit a revised Schedule 1 identifying the specific provision to which the failure applies. The employer may submit a replacement page, however, it should maintain the same format and data. Please submit this information to me at the address listed below by March 5, 2010. Internal Revenue Service — TE/GE Division 9350 Flair Drive T:EP:RA:VC:7554 El Monte, CA 91731 -2885 If you are unable to submit all of the requested items at one time, please contact me. When responding to (or inquiring about) this request, please refer to the Control Number listed above and include a copy of this letter. If you have any questions concerning this matter, please contact me by phone at (626) 312 -3628 or by fax at (626) 312 -5061. Sincerely, MARGARET SAITO Voluntary Compliance Specialist, VC Group 7554 TE/GE Division, Employee Plans cc: Bonni S. Jensen Letter VCP -3 (Rev. 04/2002)