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BenefitsLink
Message Boards Digest
July 11, 2018
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Here are the most recently added topics on the BenefitsLink Message Boards:
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austin3515 created a topic in 401(k) Plans
Failure began in 2014 and goes all the way through today. Can the plan sponsor use the 25% correction option for the most recent years? Or, because the failure goes back so far, must 50% be used (to correct for the whole enchilada)?
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Flyboyjohn created a topic in Health Plans (Including ACA, COBRA, HIPAA)
Even when the ALE offered affordable coverage, some full-time employees were able to get PTC/CSR subsidies and it's causing the IRS to propose the 4980H(b) ESRP against the ALE. If we "prove" to IRS that our employee was not entitled to any subsidy because we offered affordable coverage, will the IRS go back against the employee to recoup the subsidies? If so, the employer may decide to not fight the "(b)" penalty in order to avoid antagonizing the employee.
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msmith created a topic in 401(k) Plans
Calendar Year plan terminating mid-year in 2018. Plan Sponsor is hoping to have all participants paid out before 12/31/2018, to avoid a 2019 5500 filing. However, the Plan has failed the ADP Test for the 2018 Plan Year (from 01/01/2018 to date of termination -- business sold). Is it possible to calculate corrective distributions mid-year to avoid the 2019 5500 filing? If so, do I just use the gain/loss to a current date?
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SDS created a topic in 401(k) Plans
I have a 401(k) safe harbor (3% nonelective contribution) cross-tested plan with immediate entry dates on DOH for all contribution types. The only service requirement is age 21. There is no EOY requirement or service requirement for the PS contribution and each person is in their own classification group. This plan is Top-Heavy. If we have a new hire (NHCE) during the plan year, can we exclude them based on the otherwise excludable employee rule -- meaning the NHCE would not need to receive the minimum gateway contribution with less than a year of service?
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RayJJohnsonJr created a topic in Retirement Plans in General
Can a one-participant plan (or just the plan's trust) continue after the death of the sole participant?
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David Rhett Baker, J.D., Editor and Publisher davebaker@benefitslink.com
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