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Message Boards Digest

August 20, 2018

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

Author's photo

R. Butler created a topic in 401(k) Plans

Effect of Mid-Year Acquisition on Safe Harbor Plan

Company A sponsors a 401(k) safe harbor plan with about 80 participants. Company A is going to acquire Company B in an asset acquisition. Company B has about 40 employees. Company A only requires a 60 day wait for participation. We are trying to avoid the audit requirement for 2019. Can Company A adopt another new 401(k) plan by October that covers the acquired employees? If the new plan can be adopted, is there an issue with amending the current safe harbor plan to exclude these employees that would be covered under the new plan?
Number of replies posted  1 reply      Number of times viewed  48 views      Add Reply
 
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Susan S. created a topic in 401(k) Plans

Sole Proprietor with Employees Has SH Match and Discretionary PS: How to Calculate 415 Maximum?

I have a sole proprietor, income reported on Schedule C, with 2 employees. Contributions are basic safe harbor match and discretionary PS. Owner puts in max deferral and wants to reach his 415 limit. I know he has enough compensation to contribute the max, but it's the determination of plan compensation and breakdown between match and PS that I can't figure. I have looked at a couple of the posted Earned Income spreadsheets and they all seem to call for input of a set percentage for the employer's contribution. I don't have that. Instead, I need to hit 415 limit. Is this something I can run in Relius, or where can I find a spreadsheet that can do this?
Number of replies posted  1 reply      Number of times viewed  44 views      Add Reply
Author's photo

spartytax created a topic in Multiemployer Plans

Construction Industry Exemption from Withdrawal Liability in Connection with Asset Sale of Business

Seller is selling the assets of one of its entities to an unrelated buyer. Buyer is acquiring those assets and some of the employees and operating a similar but not same business in the same jurisdiction. Seller won't be operating in that industry/area anymore. Would the construction industry exemption preclude the application of withdrawal liability in this instance?
Number of replies posted  0 replies      Number of times viewed  34 views      Add Reply
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