Might be inheriting 2 existing plans for 2025, one has top-paid and one has lookback definition for HCE determination.

Too late to change anything for 2025.

Did some research on BL and also Notice 97-45, not sure I located the answer but looks like I can only use "lookback" method.

Will be amending to match during 2026.

Any comments or cites are appreciated.

Thank you

for Daybright Financial (Remote)

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for Daybright Financial (Remote)

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Assume that a company missed 5 years of 5500 filings and is preparing to submit them through DFVCP. The auditor has explained that in cases like this, it is their practice to only file the 8955 for the most recently missed 5500 filing, since the prior data is "outdated" by the form is filed. 

Thought on this approach? I don't see this as acceptable. 

Thanks.

for Employee Benefits Security Administration [EBSA] (Washington DC / Hybrid)

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Two S-corp owners:  the only thing on their W2 was the S-Corp Health Insurance.

Does that count for plan comp, or do we exclude it and they have zero comp for the year?

for Alerus (Remote / AZ / MN / ND)

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Taking over a plan with an owner and two NHCEs.  As NHCE#2 is becoming eligible, she says she wants to opt out of the plan entirely.  But... then it fails 410b, and the correction is to give her allocations.

I've explained this to the financial advisor, the plan sponsor, and the participant.  She is adamant she wants nothing to do with the plan "and I've checked with the DOL and I am aware of my options."  Sigh.

I've had similar situations where someone wants to opt out entirely due to religious reasons... but fortunately, it's never caused a 410b failure.  And she is not answering if her objection is along those lines - not that I'm sure that helps.

What can we do?  Thanks.

Wondering if anyone has a sense for how common a practice it is to use promissory notes for purposes of making distributions from an ESOP.  Most of what I have found suggests that this was previously a common practice but is rarely used any more.  Appreciate any thoughts. 

If the plan covers a 100% owner and spouse can/should we use code 3B on the 5500-SF?

We have a plan that has a 2-20 vesting schedule.

They would like to make everyone who was employed as of 12/31/2025 100% vested. Anyone who terminated before 12/31/2025 or hired after 12/31/2025 would be subject to the 2-20 vesting schedule.

To me, this sounds like a potential Benefits, Rights, and Features (BRF) issue. Is that correct?

If so, how would we determine if this amendment is discriminatory. Would we apply 410(b) Coverage Testing to the benefiting and non-benefiting group and determine if the NHCE to HCE ratio is at least 70% or is there another way? If coverage testing would apply, would we include all participants in the denominator (for example, would the denominator include employees who already met the 100% vesting requirement because they have 6 years of service?).

Thanks!

for The Pension Source (Remote / Stuart FL / Abilene TX)

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for The Pension Source (Remote / Stuart FL / Abilene TX)

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for Great Gray Trust Company (Remote / Boston MA / Wilmington DE / Las Vegas NV / DC / FL / NC / NY / Hybrid)

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Our client is the US subsidiary entity of a European company. The US entity is the Plan Sponsor, and the EU entity is not a participating employer. My understanding is that the EU entity + US entity consist of a controlled group or ASG, since the US entity is 100% owned by the EU entity, and the two coordinate on the same business purposes.

They recently informed us that they will be hiring a US citizen who will be working & living in the EU country.

If the person is working for an EU entity that is an non-adopting affiliated employer, do they have to be considered in the coverage testing for the Plan? Additionally, is their foreign income Plan Compensation, even if it's not reported on a W-2? Derrin Watson/ERISApedia seems to say so (Q 20:16 Who's the Employer)

for Nyhart, part of FuturePlan by Ascensus (Remote / IN)

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I've been waiting for going on five years for, according to my ex, a signature from her former employer, who had her initial 403(b) plan from which the money is coming from.

I'm curious if I will be receiving the full earnings (or losses) since the Division Date (November 2021), regardless of this continuing delay.

The order states that:

"from the division date to the date the alternate payee's account is established, the amount assigned to the alternate payee will include earnings and losses." 

This "alternate payee's account is established," is this referring to the separate sub-account that was supposed to have been made in my name by the Plan Administrator to divide the funds from her account?  (And confirming that earnings and losses continue in this sub-account.)

I want to confirm that this "alternate payee's account" is NOT referencing the date that I created the account (in Vanguard) that I am having the amount land in.  (and therefore earnings & losses would cease on that date per the order).  

Thank you VERY much for any insight!

Small S-corp has come to me looking to install a plan.  Husband and wife and two kids are the only employees.  Simple, right?  They mention that Western Employee Services is the EIN on their W-2s and also handles all their other benefits.

This isn't a problem, is it?  I'm not entirely sure what to ask who next.  Kind of sounds like a PEO situation, but that should still allow Small S-corp to have their own plan with no ties to the larger population, I think.

Thanks.

for DWC - The 401(k) Experts (Remote)

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for Employee Benefits Security Administration, U.S. Department of Labor (Washington DC / Seattle WA / New York NY / Kansas City MO / Pasadena CA / San Francisco CA / Chicago IL / Fort Lauderdale FL / Boston MA / Dallas TX / Silver Spring MD / Philadelphia PA / Atlanta GA / Covington KY / Hybrid)

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