BenefitsLink.com logo   

BenefitsLink
Message Boards Digest

November 12, 2018

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

Author's photo

Santo Gold created a topic in Distributions and Loans, Other than QDROs

RMD from a 403(b) Plan: Participant Must Ask for It?

We are the TPA firm for an ERISA 403b that has assets with a well known recordkeeper. Plan sponsor has an unbundled service agreement with the recordkeeper. We have a terminated participant who will be due an RMD by 12/31/18 and we're being told that only the participant can request the RMD. Not the TPA, not the plan sponsor. But if the RMD is missed, it is the plan sponsor who is responsible and liable for the missed RMD, correct? If the RMD is missed because the participant either intentionally or unintentionally does not request the RMD, but the plan sponsor requests it, is the plan sponsor still liable? Is the answer different because this is a 403b plan?
Number of replies posted  6 replies      Number of times viewed  58 views      Add Reply
 
[Advert.]

The Inside Scoop on Pension Plan Termination

Sponsored by Findley
We'll look at Findley's PlanTerm™ Financial Modeler, how to prepare the participant data needed, and tips to build consensus among stakeholders. Register now for this December 5 webinar.
Author's photo

Lois Baker created a topic in 401(k) Plans

IRS Issues Proposed Hardship Withdrawal Rules

Proposed regs released for Hardship Withdrawal changes made by TCJA and BBA2018. Also includes relaxed rules for those affected by Hurricanes Florence and Michael. https://benefitslink.com/newsletters/2018/2018_11_09_retirement_bulletin.html
Number of replies posted  1 reply      Number of times viewed  58 views      Add Reply
Author's photo

austin3515 created a topic in 401(k) Plans

Handling 415 Violations Using EPCRS

Plan has up to ~12% profit sharing (after integrating w/SS) plus a 6% matching contribution. As a result, after taking into account 401(k) contributions, a handful of participants each year will require a portion of their 401k refunded. 4.04 of EPCRS states: "A plan that provides for elective deferrals and nonelective employer contributions that are not matching contributions is not treated as failing to have established practices and procedures to prevent the occurrence of a section 415(c) violation in the case of a plan under which excess annual additions under section 415(c) are regularly corrected by return of elective deferrals to the affected employee within 9½ months after the end of the plan's limitation year." So I'm OK with the policy, correct?
Number of replies posted  2 replies      Number of times viewed  43 views      Add Reply
Author's photo

Lindsay created a topic in Employee Stock Ownership Plans (ESOPs)

Unallocated Shares in an ESOP: What Happens When Company Is Sold?

The company is being sold with lots of Unallocated shares in the ESOP. What happens to them? Are they divided up among the participants? Or do the new owners decide?
Number of replies posted  3 replies      Number of times viewed  43 views      Add Reply
Author's photo

kshawbenefits created a topic in 401(k) Plans

Adding Target Date Funds as QDIA: Committee Procedures?

Should an investment committee have a special process for adding a target-date fund to a 401k lineup, and possibly using it as the QDIA? A client is being told that it should take the extra step of having its investment committee interview the managers of the target-date funds under consideration. I hadn't heard this before.
Number of replies posted  4 replies      Number of times viewed  37 views      Add Reply
Author's photo

AdKu created a topic in Defined Benefit Plans, Including Cash Balance

APR at Age 65 if Actuarial Assumptions Are 1994 GAM without Setback, Pre/Post 7% and 5%

We are using Relius software. Please help me how to pull from Relius (or direct me where/how to find it) the APR at age 65 if the actuarial assumptions are: Pre-retirement 7% interest; Post-retirement 5% interest, and the 1994 Group Annuity Mortality without setback.
Number of replies posted  1 reply      Number of times viewed  26 views      Add Reply
BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park, Florida 32789
(407) 644-4146

Lois Baker, J.D., President  loisbaker@benefitslink.com
David Rhett Baker, J.D., Editor and Publisher  davebaker@benefitslink.com
Holly Horton, Business Manager  hollyhorton@benefitslink.com

Copyright 2018 BenefitsLink.com, Inc. All materials contained in this mailing are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.

Links to web sites other than BenefitsLink.com and EmployeeBenefitsJobs.com are offered as a service to our readers; we were not involved in their production and are not responsible for their content.

Unsubscribe | Privacy Policy