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Message Boards Digest

February 12, 2019

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

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M Norton created a topic in SEP, SARSEP and SIMPLE Plans

Compensation Definition for SIMPLE IRA That Started October 1

Company started SIMPLE IRA plan beginning 10/1/2018. The company operates on a calendar year. When calculating the SIMPLE IRA match, can we use compensation for the full year, or must it be only from October through December?
Number of replies posted  1 reply      Number of times viewed  22 views      Add Reply
 
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AJC created a topic in Qualified Domestic Relations Orders (QDROs)

Using Divorce Decree Without Separate QDRO

A plan participant has provided a copy of his divorce decree to the plan administrator. The divorce decree stated that 100% of the participant's account balance under the plan is to be transferred to his ex-spouse. The plan administrator determined that the divorce decree is a QDRO (approved), and as such, has transferred the employee-participant's account balance to his ex-spouse. My question: Was a separate QDRO order required? Or was the plan administrator correct in processing the QDRO (balance transfer) based only on the divorce decree?
Number of replies posted  7 replies      Number of times viewed  62 views      Add Reply
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lie created a topic in Investment Issues (Including Self-Directed)

231b Captive Insurance with Life Insurance Inside

I am an expert witness suing crooks who sell captive insurance with life insurance inside and claim that the business owner can deduct. As I have been writing for years, the IRS audited and the business owner is suing. The crooks have been selling other scams in the past using life insurance that they claim is deductible. I don't want to mention the names of the crooks but if you have run into these scams before I would like your remarks, and thanks so much for reading.
Number of replies posted  1 reply      Number of times viewed  27 views      Add Reply
Author's photo

austin3515 created a topic in SEP, SARSEP and SIMPLE Plans

Section 125 Contributions Reduce Compensation for SIMPLE IRA Purposes: IRS Hiding the Ball?

I'm reading through the newest edition of IRS Publication 560, and I'm struck by how they seem to go out of their not to call attention to the fact that Section 125 premiums reduce eligible compensation. It seems the only reference to this rule is that when it describes those pre-tax contributions that do not reduce compensation, 125 deductions are not listed. And of course it's stupid that your employer should be rewarded for making you pay more for health insurance premiums, or that you should be penalized for being older because your deductions are increased as premiums increase. Does the IRS not want me to follow this rule? It seems if they did they would say "hey, watch out -- 125 deductions reduce comp!"
Number of replies posted  1 reply      Number of times viewed  19 views      Add Reply
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