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Message Boards Digest

October 15, 2018

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

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AATPA created a topic in 401(k) Plans

Elective Deferral Withholding Required from Income on Tips Appearing on Credit Cards?

My client pays out credit card tip income at the end of each shift. None is run through payroll. Obviously 401(k) deferrals cannot be withheld from cash tips. (The election percentage is based on gross wages including tips, yes, the cash cannot be paid back to the employer to cover that withholding.) Is the employer responsible for withholding from credit card tips if they cash them out on a per shift basis? Would they not have to be considered similar to cash tips in that case? They have a safe harbor plan and cannot exclude tips from the definition of compensation or from salary deferral election without it being discriminatory. The auditor states they are required to hold on to those credit card tips until sufficient withholdings are done. Obviously there are times when the net check is zero prior to being able to withhold 401(k) contributions, or where the full election cannot be withheld.
Number of replies posted  0 replies      Number of times viewed  30 views      Add Reply
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dv13 created a topic in 401(k) Plans

How Long Must Plan Sponsor Keep Unforeseeable Emergency Distribution Documentation?

Even the regulations on 401(k) hardship documentation do not actually state what length of time the plan sponsor must keep these records -- just that it must. Is there no rule? Would 7 years be sufficient?
Number of replies posted  1 reply      Number of times viewed  52 views      Add Reply
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Karoline Curran created a topic in 401(k) Plans

Working for a TPA? What's Your Caseload?

For those of you who work for, or own, a TPA and administer plans, what is the size of your caseload? The TPA for which I work keeps our cases around 45 for each admin, which is great, and manageable most of the time. My husband, who at 67, is quite a bit older than I, and also an admin is considering leaving his job because he has a case load of 120 plans, which he and I both find ridiculous. He's not ready to retire since you don't get max SS until 70. Curious to what others have as their caseloads.
Number of replies posted  3 replies      Number of times viewed  73 views      Add Reply
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