Leaderboard
Popular Content
Showing content with the highest reputation on 11/07/2018 in all forums
-
Correcting Coverage Testing, Can we distribute small accounts?
Eve Sav reacted to Luke Bailey for a topic
By definition as a QNEC the amounts are not distributable until death, disability, or separation from service.1 point -
Hardship Eligiblity
Pam Shoup reacted to Karoline Curran for a topic
Eligible expenses would be things like costs directly related to the purchase or construction of a primary residence, including building materials and closing costs. Not a moving van since that has nothing to do with the purchase of a principal residence.1 point -
If the plan is terminating, and participants are making these elections to roll into the 401(k), then the in-service rule in the DB is irrelevant, and further, none of the DB distribution restrictions or characteristics follow through to the 401(k). If the 401(k) permits in-service at 59 1/2 then that is what applies (and some plans allow rollover money to be withdrawn at any time; that would apply as well).1 point
-
I think EPCRS is the wrong place to look. You made QNECs to correct a testing failure. Those accounts now exist and are subject to all plan terms and conditions. If these participants are otherwise entitled to a distribution*, and the fee eats up their money, so be it - pay them out at a net $0 and move on. *Maybe I'm reading too much into it but you may not just get rid of accounts for active participants because they are small accounts.1 point
This leaderboard is set to New York/GMT-05:00