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Showing content with the highest reputation on 05/21/2021 in Posts

  1. Man I wish I could have worked for some place with that rich of a benefit as a whole goat for 25 years back in the day! Most I found I had to share a goat.....
    1 point
  2. Assuming you are looking for an experienced Administrator, and not "merely" someone smart who you can train: I have no good sources other than the one you are using right now (BenefitsLink) - which is excellent. Unless you hit someone who is looking to relocate ALREADY, the general feedback that I've seen is that normal Admin positions frequently don't pay enough to entice people to relocate. If you are offering relocation expenses, that might help a lot. (If you move your business to Maui, you might get a lot more applicants. 😎) I've also heard, anecdotally, that many of the larger companies, while they have some very good people, often compartmentalize - so someone may be very good at Nondiscrimination testing, but can't interpret a document or do a 5500 form or a VCP filing. So getting the trained person you want, at a price you want to pay, can be very challenging. Subject of course to local conditions/labor supply. It also seems to me that some of the younger generation has some unrealistic demands on salaries/benefits. (When I started, plans were pretty simple - we did them with a hammer and chisel on stone tablets, and benefit formulas were 1 goat per year of service up to 25...) If you are willing to train, then job fairs at local colleges can work. At my prior employer, (a much larger company) we picked up a couple of excellent people. Problem there is that if you are a small TPA, there isn't generally a lot of room for advancement, so the 20-somethings move on. Sorry I can't provide more helpful suggestions. Good luck!
    1 point
  3. okay, thank you. The person I know is in Austin.
    1 point
  4. Belgarath

    Defaulted loans

    If the loan was only for two years, you should be able to correct under SCP. See RP 2019-19, Section 6.(.07)(3)(d).
    1 point
  5. C. B. Zeller

    Defaulted loans

    The first question you're going to have to find out, then, is whether you can get the recordkeeper to issue a corrected 2020 1099-R. It may be difficult or impossible depending on their systems. If the participant was a qualified individual, and the default occurred after the effective date of the CARES Act, then you could probably say that the final payment was deferred for 1 year. It would have to be increased with interest, of course. Notice 2020-50 said that the scheduled repayments had to begin in January 2021, but since there were no scheduled payments in 2021 I think you can make an argument that she would get a full year suspension from the original final payment date. If she was not a qualified individual, and she is past the 5-year limit from the original loan date, then she is out of luck. However if she is still within the 5-year period, then the plan may be able to correct the defaulted loan under SCP by having her repay the amount with interest.
    1 point
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