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Message Boards Digest

July 31, 2018

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

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RosemaryCR created a topic in Retirement Plans in General

Employer Pays Into Plan's Trust to Reimburse Trust for Payment of Investment Fees

The employer reimburses investment fees through through the plan's trust instead of paying directly. I believe this is considered a contribution. Does anyone have a cite that clarifies this?
Number of replies posted  7 replies      Number of times viewed  83 views      Add Reply
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hsctpa created a topic in 401(k) Plans

Meaning of 'Vested Account Balance' for Purposes of Second Loan to Participant

Guidance on the IRS website refers to "50% of the participant's vested account balance" when calculating the amount available for a participant loan. When calculating the amount available for a second loan with a first loan outstanding, do I include the outstanding balance of the first loan in the "vested account balance"? It appears from the example in the ERISA Outline Book that I should include the outstanding balance of the first loan.
Number of replies posted  1 reply      Number of times viewed  43 views      Add Reply
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B21 created a topic in Form 5500

Schedule H Reporting: Use Trade Date or Settlement Date?

I'm preparing a Schedule H (Form 5500) for a 2017 calendar year 401(k) plan. The plan merged with another plan effective on 1/1/18. The majority of mutual funds were liquidated around 1/28/17, which was the trade date reported by the financial institution. It was received by the other plan on 1/2/18, which would be the settlement date. How should these transferred plan assets be reported on the 2017 Schedule H?
Number of replies posted  0 replies      Number of times viewed  23 views      Add Reply
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Surfer451 created a topic in 401(k) Plans

Employee Quit, Then Rehired as Consultant; Distributable Event?

If an employee quits and gets rehired as a consultant with no benefits, does he/she have the ability to cash out their 401(k)?
Number of replies posted  3 replies      Number of times viewed  56 views      Add Reply
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dan.jock created a topic in Defined Benefit Plans, Including Cash Balance

5500 Line 6c -- PBGC Coverage

When answering yes to this question, it asks us to enter the MyPAA filing confirmation number. I haven't done the PBGC filing yet. How do I get by this, short of just doing the PBGC filing? For 2017, it's a new plan and the PBGC filing was due therefore 90 days after plan effective date (mid-March). Because we're busy with contribution numbers in the spring, we usually let the first filing be late and pay the very small penalty (1% of the unpaid premium is peanuts). Because Line 6c is new, it's throwing me off. Any feedback?
Number of replies posted  1 reply      Number of times viewed  23 views      Add Reply
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