PFranckowiak

I heard it too. Now to try to write it so that notice aren't required, or that we limit the plans that it's required in. So many notices the employees don't read them. I don't understand the purpose of the notice as the employees cannot make any decisions on it as it's already done.

Plan has a three consecutive month eligibility. Dual entry New Employee worked from 2/14--4/22, then got paid through 5/6. Came back to work full time 8/8. He did not work due to Covid reduction in business -so I think furlough and he was still employed. He met his three months of service so would have come in 7/1, but was not working. Since no actual severance from employment, then he met the service requirements and would participate when he came back to work. If someone only worked a month, would you also treat the same way?

I did an online seminar and they were recommending that we still do the notice until it was clarified. Not sure - gray area. I would say in these conditions, they will have to come up with something as we are going to see Safe Harbor plans drop. Not sure this is on the top of the list right now.

Thanks

Another thought that came up is with the Secure Act - can a plan, assuming notice was done, discontinue SH non-elective contributions, but at a later date - amend to be a Safe harbor plan for the year. Clients are wondering how long this will last - if it is only a few months they might be okay by the end of the year. If not, they want to stop the bleed, sooner, rather than later.

We are continuing to do notices until this is clarified.

Do I have these options correct - have not done this in awhile. Not sure if we will ever get any relief legislation in time to make any difference. Stop Match 30 day notice, amend plan, subject to ADP/ACP, Fund to date of amendment, SUBJECT TO MINIMUM TOP HEAVY CONTRIBUTONS. these may be more than the match requirement. Terminate the Plan Stop Match as of date of plan determination, not subject to additional testing.

Not elapsed time. Company just switched from a year of service to three consecutive months.

Eligibility 3 consecutive months Assume Hired 2/15/2013 works only 400 hours a year. Came into plan 7/1/2013 Terminated 8/1/2019 Rehired 2/1/2010 Never had 501 hours so they are all breaks in service. Doc says we can exclude if employee had 5 or more consecutive breaks in service. Does that include the years he was working too? never put any money in the plan Thanks

Prior year testing. Take over plan Plan excludes bonus Failed 414(s) for year end 12/31/18 They used Total Compensation for the ADP Test for 12/31/18 This year do we run ADP using Total Compensation for HCE's since the number we have for the NHCEs from last year was TC? Also what is the rule for changing from Prior Year to Current year .. Can we change or is there a 5 year wait? ADP has been prior year for a long time. ACP has been Current year and just changed to prior year last year.

401(k) Plan I don't do this enough and am second guessing myself A. excludes Safe Harbor Exclusions, fringe benefits, expenses, deferred compensation and welfare benefits. B. Also excludes bonuses. C. Employees covered under 125 plan and get paid cash if they don't select benefits. 1. For the compensation test to I take Item A. from gross compensation for the denominator or just use total gross? 2. For the numerator do I use the denominator -B? 3. Also if It doesn't pass and the match is just 15% of the deferral, I assume that the only consequence is using a 415 compensation for testing purposes.

Plan will be a 401(k) with 90 day eligibility and quarterly entry dates. They currently use a staffing company to fill new positions and then either hire them or not. They are usually hired within 4-6 months. No one makes the year required for leased employees. The company wants to exclude credit for any service they had with the staffing company and count service once they are hired. Is this allowable? How can it be worded in the document. I had someone suggest excluding service with any other company not sponsoring the plan. Thanks for any suggestions, just want to make sure I am not forgetting something.

Attorney wants to pay out to the estate - not a very large amount. Roth involved - Roth clock started in 2009. Participant under 59.5 Alternate Payee died under 59.5, Beneficiary according to QDRO is the Estate. So is there withholding on the Roth Earnings?

Thank you

QDRO - Alternate Payee died before receiving payment from a 401(k) QDRO QDRO - states that if alternate payee dies - it is to be paid to the alternate payees estate. Mother of the Alternate Payee I guess has control of the Estate per the court. Alternate payee has a 4 year old child. If paid to the Alternate Payees Estate - does that mean that their are no rollover options and we have to withhold taxes?