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Message Boards Digest

January 30, 2019

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

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

S-5 Table form the Actuary's Pension Handbook

I'm trying to find the table of rates that reflect the salary increase table S-5 that supposedly is in the Actuary's Pension Handbook.
Number of replies posted  0 replies      Number of times viewed  17 views      Add Reply
 
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Fiduciary Guidance Counsel created a topic in Qualified Domestic Relations Orders (QDROs)

Do users of IRS-preapproved documents get a choice to preclude a QDRO distribution before the participant reaches age 50?

Under ERISA and the tax Code, a retirement plan may allow an alternate payee's QDRO distribution before the participant's earliest retirement age. ERISA 206(d)(3)(E)(ii); IRC 414(p)(4)(A)-(B); 26 C.F.R. 1.401(a)-13(g)(3). For individual-account (defined-contribution) retirement plans, many plan sponsors permit an immediate distribution to an alternate payee, perhaps because a practitioner or service provider suggested that to do so is simpler than keeping a court order open for many years while waiting for the participant to reach an earliest retirement age. (That's been my advice.) Yet some plan sponsors might prefer to provide for not paying an alternate payee before the participant becomes entitled to receive a distribution or reaches age 50. (I'm not advocating this choice; rather, I'm curious about whether it's even practically available.) Does an IRS-preapproved document afford a user an adoption-agreement or other choice for not providing a QDRO distribution until the participant's earliest retirement age? Does the document your firm uses afford a choice on this plan-design point?
Number of replies posted  9 replies      Number of times viewed  80 views      Add Reply
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Jim Chad created a topic in 401(k) Plans

discretionary non-elective to cure top heavy

Please tell me if I am missing something. Plan is TH first year 64%. 3% is around $9,000. Discretionary non-elective of $1,400 would make the TH percentage 59.9 %. TH test is Accrual for the first year ....isn't it? Am I missing something?
Number of replies posted  1 reply      Number of times viewed  35 views      Add Reply
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cheersmate created a topic in Cross-Tested Plans

Cross Tested 401kPS w 3%SH

Plan facts: 3%SH to all discretionary PS to all 3 HCES, 3NHCEs, young owner, mixed age staff each participant is in own allocation rate for PS Can the employer "cherry pick" a particular participant - who happens to be youngest and new ppt mid-year w lowest eligible pay - such that his own RG passes (a)(4)? The remaining NHCEs will receive at least GW minimum. Doing this passes all (a)(4) testing, 410b easily. My hesitation is because of perceived bottom up allocation... would it be better to "cherry pick" an existing but younger ppt who earns $100k (obviously more expensive to do so)? FYI, the other 2 HCEs are receiving the 3% SH plus 1% PS, their indiv RGs pass easily. Thank you.
Number of replies posted  1 reply      Number of times viewed  28 views      Add Reply
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ERISAgeek111 created a topic in Defined Benefit Plans, Including Cash Balance

DB Plan without Trustees?

Has anyone ever heard of a DB plan not having trustees? I'm being told only 401k and 401a plans require trustees. Is that true? and if so, what is the authority for this? Thanks
Number of replies posted  5 replies      Number of times viewed  60 views      Add Reply
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Getholmes created a topic in 401(k) Plans

Percentage of Plans with 3(38) vs. 3(21)?

Does anyone have any idea of the percentage of plans that have 3(38) vs 3(21)?
Number of replies posted  0 replies      Number of times viewed  11 views      Add Reply
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