401Karina

A participant in a qualified plan, stopped making loan repayments in which after 90 days the loan was deemed and reported on a 1099R the following year. The active participant would like to borrow again from the plan, the plan allows for one (1) per participant at any time, is the participant permitted to take a brand new loan? Or will he be required to pay-off the prior deemed loan first before he is able to initiate a new loan?

On the topic of deemed loans, we have a participant in a qualified plan that stopped making payments in which after 90 days the loan was deemed and reported on a 1099R. The active participant would like to borrow again from the plan, the plan allows for one (1) per participant, is the participant permitted to take a brand new loan? Or will he be required to pay-off the prior deemed loan first before he is able to initiate a new loan?

Thank you. On the topic of termination, if this employee was still performing services and worked that full day on 12/31/2022, would that be considered his termination date and not the following date 01/01/2023?

In 2023 he is 76

If a participant's last day of service is 12/31/2022 and as of 01/01/2023 does not return to work, will a 2022 RMD be required?

An employee was re-hired after incurring five 1-year breaks in service. He never took a termination distribution from the plan. Since he is now an active employee but not yet eligible to re-enroll in the plan, is he able to borrow against his account in the plan?

Can an employer offer an "Open Enrollment" option to allow ALL employees, even if they have NOT met eligibility requirements, to enter the plan?

If an employee who his 66 years old and on Medicare retires on Jan. 1, and his spouse is not yet eligible for Medicare wants to carry COBRA, how long can the spouse carry COBRA?