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Message Boards Digest

July 3, 2018

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

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Tom created a topic in 401(k) Plans

Start-Up of Safe Harbor 401(k) Plan; Effect of Existing 457(b) Plan

Employer has no 401(k) plan but has a 457b plan covering only the one key employee. This key employee makes elective deferrals to this plan. The employer wants to start a safe harbor 401(k) plan. I assume the 457 is considered a deferral plan and thus the October 1 start up of 401(k) would not be possible for 2018 but instead they would have to wait until 1/1/2019. I realize the answer seems obvious but I'm asking in case there's an exception to non-profit 457b plans not counting as true deferral plans for this purpose.
Number of replies posted  3 replies      Number of times viewed  74 views      Add Reply
 
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coleboy created a topic in 401(k) Plans

Moving Death Benefit of One Participant into Account of Another Participant

A distribution needs to be done due to the death of a young participant. His father, who is handling his son's estate, is in the the same 401k plan. The deceased participant's balance was simply rolled over into his father's 401k account. I believe this is incorrect. How should the processing of the death benefit be done?
Number of replies posted  4 replies      Number of times viewed  64 views      Add Reply
Author's photo

Belgarath created a topic in Cafeteria Plans

Prepayment of COBRA Premiums using Final Paycheck

Say an employee is terminating shortly, but will receive a last paycheck -- possibly including severance pay. Can the employee elect to "prepay" the next 6 months of COBRA premiums out of the last paycheck?
Number of replies posted  4 replies      Number of times viewed  45 views      Add Reply
Author's photo

David Peckham created a topic in 403(b) Plans, Accounts or Annuities

Merge 403(b) Plan Into 401(k) Plan?

Can a non-profit 403(b) plan be merged into a 401(k) plan?
Number of replies posted  2 replies      Number of times viewed  39 views      Add Reply
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