StaffScapes, Inc 401k Profit Sharing Plan Annual Report is ready for viewing

The summary annual report for the StaffScapes, Inc. profit sharing plan, plan no 333, for period January1, 2006 through December 31, 2006 is available for viewing. The annual report has been filed with the Employee benefits Security Administration, US Department of Labor, as required under the Employee Retirement Income Security Act of 1974(ERISA).

To obtain a copy of the full annual report, or any part thereof, write or call StaffScapes, Inc., 12000 Pecos St, Suite 300, Westminster, CO 80234, (303) 466-7864.

Would your company benefit from amending to a Safe Harbor plan Design which would:

Allow their plan to automatically "pass" the ADP/ACP tests and thereby avoid having to take corrective actions such as issuing refunds to Highly Compensated Employees(HCEs) or Making Qualified Non elective Contribution to Highly Compensated Employees(NCHEs)

Allow their plan to "satisfy" Top-Heavy minimum contribution requirements, under certain circumstance; and

Help their HCEs maximize contributions.

We’re offering to run a no-cost analysis to help determine whether a Safe Harbor design is right for your retirement plan.

Tax Treatment of Refunds Changing for 2008

Beginning with the 2008 plan year, ADP and ACP refunds attributable to the 2008 plan year are taxable in the year of distribution. Therefore, for the 2008 plan year, refunds distributed between January 1, 2009 and March 15, 2009 are taxable in 2009, the year distributed (as opposed to the year contributed). Also beginning with the 2008 plan year, gap period earnings (earnings from the last day of the plan year to the date of distribution) are no longer required on ADP and ACP refunds and for refunds of Excess Deferrals.

StaffScapes provides and manages a 401k retirement plan for its PEO clients with Transamerica 401k services. Employers can participate in the traditional 401k plan as well as the new ROTH 401k plan.