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Message Boards Digest

January 18, 2019

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

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Stash026 created a topic in 401(k) Plans

Loan Repayment/Maternity Leave

We have a participant that recently took a loan and is now going out on maternity leave. Is there any special regulations regarding repayments while she is out or if no repayments are made does she default?
Number of replies posted  3 replies      Number of times viewed  41 views      Add Reply
 
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KaJay created a topic in Retirement Plans in General

When is receipt of a W-9 necessary?

Background A participant in a 403(b)(9) retirement plan has requested a distribution.
Number of replies posted  0 replies      Number of times viewed  24 views      Add Reply
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Belgarath created a topic in Retirement Plans in General

SMM Requirements as to content

Basically a ridiculous academic question, although I suppose it might have some applicability in the future for some sort of required amendment that pertains to all plans. In these days of mostly pre-approved DC plans, suppose there is a required amendment, let's say something like the DOL disability regs or whatever, that is adopted by the document sponsor on behalf of all clients. It requires an SMM. Is an SMM legally required to list the Plan and Employer name? Clearly the SPD must do this as per the DOL regs, under 2520.102-3. But I'm not certain that this specific requirement pertains to the SMM, as this information isn't changing - I didn't find, on a mid-level look, where it is specifically stated. Didn't use the fine-toothed comb. If not legally required, it could facilitate a "generic" mailing to all clients. At best, I think it is foolish not to include plan and employer information, but is it ever an option not to? Curious as to any opinions on this.
Number of replies posted  2 replies      Number of times viewed  41 views      Add Reply
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Patricia Neal Jensen created a topic in 403(b) Plans, Accounts or Annuities

404 Deductibility Rule and Tax Exempt Sponsor?

Plan Sponsor of 403(b) is a tax exempt org. They want to make very large employer non-elective contributions. The question is not about the individual limits that apply to participants. The question is "does the Sec 404 deductibility rule apply to a plan sponsor who does not have tax deductions?" PS... the Sponsor is actually a non-electing church. Would the answer be different than a 501(c)(3) org.? Thanks! PNJ
Number of replies posted  1 reply      Number of times viewed  24 views      Add Reply
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Pri created a topic in Plan Terminations

Controlled Group

What is a controlled group? and when a plan be considered a part of the controlled group? also can a plan which part of the control group Terminate?
Number of replies posted  4 replies      Number of times viewed  46 views      Add Reply
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