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Message Boards Digest

March 9, 2018

Here are the most recently added topics on the BenefitsLink Message Boards:

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Cynchbeast created a topic in Retirement Plans in General

Participant Dies But No Beneficiary Designation on File, Not Sure Who is Beneficiary in Intestacy Situation

We have a 401(k) plan with a participant who died last year. She has a sizeable amount in the plan (over $200k), and as far as the sponsor knows, she had no will and both her husband and daughter predeceased her. They believe she has some adult grandchildren, but so far none has contacted them. I suggested they contact one of the grandchildren to find out the status of her estate. But the question arose as to what we do if no one asks for the money. And also, what happens in a couple years when the participant would have turned 70-1/2 (RMD)?
Number of replies posted  10 replies      Number of times viewed  86 views      Add Reply
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Vlad401k created a topic in 401(k) Plans

Cross-Attribution of Husband/Wife Stock Ownership: What's Mine is Yours?

Let's say husband and wife own 50% each of Company A. They also have some ownership in other companies, which could form a potential Brother-Sister Controlled Group. Would you consider them both as 100% owners when determining the if the controlled group relationship exists for a Brother-Sister Controlled Group, because of attribution, or would they just be considered 50% owners?
Number of replies posted  4 replies      Number of times viewed  64 views      Add Reply
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cdavis25 created a topic in 401(k) Plans

ACP Test Fails; Zero Earnings on Corrective Distributions?

The ACP test fails. Corrective distributions will apply. If the match is made after the plan year end, is it acceptable to say the earnings for the corrective distributions are zero?
Number of replies posted  3 replies      Number of times viewed  45 views      Add Reply
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Mr Bagwell created a topic in 401(k) Plans

EPCRS Correction for 3% SH with Non-SH Match

Plan is safe harbor non-elective with a 100% of 2% non-safe harbor match. A rehired employee was not given the opportunity to defer for 2017. I know that the fix for the deferral piece is 50% of the 3% plus the 3% safe harbor. But what about the match piece? I understand the regs to be 2% match. The employee's missed deferral was 3% (because of safe harbor non-elective), so the match is 100% of 2%?
Number of replies posted  3 replies      Number of times viewed  50 views      Add Reply
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ERISA-Bubs created a topic in 409A Issues

Can 'Unrelated' Employers Participate in the Same 409A Plan?

We have two companies that are only a little bit related -- in the 10-20% range. So they definitely wouldn't be considered a single employer under 409A. However, when certain employees leave company A to go to company B, they continue to participate in company A's nonqualified plan. I can't find any reason why this is a problem -- is there anything I might be missing?
Number of replies posted  5 replies      Number of times viewed  73 views      Add Reply
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Stash026 created a topic in Defined Benefit Plans, Including Cash Balance

Cash Balance Plan's 'Forfeitures Account' Can Be Used to Pay TPA Fees?

Can Plan expenses be paid out of a Cash Balance Plan's Forfeiture Account (similar to a 401(k))? For instance, TPA fees?
Number of replies posted  7 replies      Number of times viewed  58 views      Add Reply
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BG5150 created a topic in 401(k) Plans

Age 20-1/2 Eligibility Requirement?

Plan has this eligibility: Age 20-1/2, 1 YOS (1,000 hrs). Entry date: First day of plan year following. That's it. On the surface it seems it violates the 18 months rule, but I am half-remembering that the age 20-1/2 aspect somehow buys the plan an extra 6 months.
Number of replies posted  5 replies      Number of times viewed  47 views      Add Reply
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Scuba 401 created a topic in 401(k) Plans

Terminating a Safe Harbor Plan Mid-Year: 30-Day Notice Needed?

If terminating due to acquisition/plan termination, does the plan need to provide 30 days notice?
Number of replies posted  1 reply      Number of times viewed  28 views      Add Reply
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Loves401(k) created a topic in 401(k) Plans

Deducted Too Much Pretax

A Participant went online and changed from 10% to 2%. Should the excess be forfeited as a mistake of fact and the Participant made whole outside the plan? Should it be distributed to the Participant as an excess, with the Plan issuing a 1099?
Number of replies posted  5 replies      Number of times viewed  45 views      Add Reply
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