for Fringe Benefit Group (Remote / Austin TX)

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for Strongpoint Partners (Remote / Chico CA)

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for EPIC RPS (Remote)

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for Ascensus (Remote / PA)

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for Global Employee Benefits Consulting Firm (Atlanta GA / AL / AR / CT / DC / DE / FL / KY / LA / MA / MD / ME / MI / MS / NC / NH / NJ / NY / OH / PA / RI / SC / TN / VA / VT / WV / Hybrid)

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for Daybright Financial (Remote)

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I am in the midst of preparing a restated defined benefit plan document for a multiemployer pension plan client. Since it had been a while since I even looked at them, I looked to see if there were any changes made to the recent IRS update on its Listings of Required Modifications for defined benefit plans. I noticed that the Code citation to the definition of current liabilities was to 412(l)(7). As you may know, in the mid 2000s, 412 was amended to take a good chunk of it out of the section and put it into Sections 430-433 instead. Surprisingly, the LRM did not catch this. Since this client has had to adopt a funding improvement plan, looking at the assets being 110% of current liabilities for the rules not to apply makes little sense in this context. I know that there is a blanket exemption from the nondiscrimination rules for collectively bargained emplloyees. Since the pre-termination restrictions are contained int he 401(a)(4) regulations, it seems to me that they do not even have to be included in the plan. Am I missing something? Thanks in advance. 

Sponsor has a 401(k) plan with an EACA provision. They want to change the plan to be profit sharing only, effective as soon as possible. How much notice is required to be given?
I know 30-90 days is best practice - but is that required? Could they make the amendment effective tomorrow? 

for Growing National Provider (Remote)

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for BPAS (Remote)

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for BPAS (NY / Hybrid)

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Hi,

Thanks as always for all the insights. 

Two PBGC DB Plans sponsored by same owner (controlled group).

One of the entities is not active anymore.

Both DB Plans are frozen.

If the non-active DB is merged with the active DB (benefits etc carried over) is this subject to the PBGC termination process with filing all the many forms or is the only form needed is a 5310-A as it is not a termination rather a merger?

Is there any downside to merging as opposed to terminating the non-active plan?

Thank you!

for EPIC RPS (Remote / Norwich NY)

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Got a call from a financial advisor who thinks he's got a plan with a problem.  Plan was started in December 2025; the owner deferred, but because all employees work <1,000 hours per year, they were told that the employees are all ineligible.  But upon review of the adoption agreement, it was selected that all employees on the effective date are eligible.  And of course they weren't given the opportunity to defer.

Note: the business only started in 2025, so at least they can be exempt from mandatory automatic enrollment for now.

So kudos to the advisor for finding this and looking for help.  We discuss missed deferral opportunity and QNECs and he agreed to send me data.

Here's my problem: what is the base QNEC?  There is no average deferral rate of the NHCEs because they were all improperly kept out.  EPCRS talks about the rate to use for plans with a safe harbor (Appendix A.05), but I don't see an option for a plan with no safe harbor (because why would you put in a safe harbor with no eligible NHCEs? *sigh*).

Any guidance?  Thanks.

for ERISA Services Inc. (Remote)

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for ERISA Services Inc. (Remote / Knoxville TN)

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for Anchor 3(16) Fiduciary Solutions LLC (Remote / Wexford PA)

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Does any one work on pension plans that cover both US locations(US Citizens only) and Canada locations (with Canadian citizens/employees only)? 

I know it is allowed and possible, and that there would typically need to be provisions that may apply to ONLY the Canada employees, and ONLY US employees. 
There is an employer that sponsors a traditional DB plan, it is PBGC covered, and they are interested in expending the pension benefits to include their Canadian employees. 

Does anyone have some technical reading they can recommend? or if you do this kind of work do you have suggestions? TPAs I can suggest they look at that do this kind of niche work? 

Other thoughts? 

for FM International Services (Huntington NY)

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First time hearing this one: Husband is in the US on a H1-B visa, and has brought over Wife on an H-4.  Wife is employed by my client.  Presuming she is legal to work in the US (which appears to require documentation and "milestones"), I don't see any reason she shouldn't be treated like any other employee, right?

I presume that the H-4 status gives her some kind of nine-digit identification number so she can be set up with the plan recordkeeper.

Thanks.