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Message Boards Digest

July 29, 2019

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

Belgarath created a topic in Cafeteria Plans

Very small HRA for governmental employer

Any bright ideas on this one? A very small governmental employer (app. 7 or 8 employees) thinks they want to set up an HRA for one person. Well, this won't fly, as the one person is a "Highly Compensated Individual" under the testing rules (is in the top 25% by compensation). I don't know why they want to do this anyway, (apparently something to do with Medicare, but that's unclear) - since they can't do that, they wanted to make everyone eligible and pay their group health premiums with HRA funds. That can't be done either. And a QSEHRA isn't available if the employer provides group insurance. I think they can't have their cake and eat it to, but wondering if there is something obvious that I'm missing?
Number of replies posted  11 replies      Number of times viewed  65 views      Add Reply

Brett Smith created a topic in 403(b) Plans, Accounts or Annuities

403(b) public school employee. Need advice

Met with advisor in 2009 and agreed upon "moderately aggressive" portfolio. Realized in 2015 all monies going to a money market. Unhappy, Met with advisor to plan new course of action. 2019 Just realized majority of money still sitting in money market. Missed out on last 10 years What recourse do I have for his inaction and incompetence?
Number of replies posted  2 replies      Number of times viewed  57 views      Add Reply

tymesup created a topic in Form 5500

5500-SF allowed if plan participates in 103-12 IE

A plan has 70 participants. The plan sponsor is part of a controlled group with well over 1,000 participants. The assets are in a 103-12 IE. The plan has been filing a 5500 for at least the last 10 years. Can it start filing a 5500-SF?
Number of replies posted  0 replies      Number of times viewed  28 views      Add Reply

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

401(h) designers & administrators?

Anyone knows of a designer and/or TPA that designs and/or administers defined benefit plans including the 401(h) health expenses benefits part, for financial advisors' clients?
Number of replies posted  0 replies      Number of times viewed  24 views      Add Reply

cpc0506 created a topic in 401(k) Plans

Safe Harbor Plan and Hardship issue

Client has a safe harbor plan and allowed a hardship distribution to a participant last week. Current AA does not allow for hardship withdrawals. Can I retroactively amend a safe harbor plan to add hardships? I thought that a 30 day notice requirement still existed for making mid-year changes to SH plans. Does Rev Proc 2019-19 allow for this type of Self-correction? I could not find any language regarding safe harbor plans. Thanks for your input.
Number of replies posted  0 replies      Number of times viewed  24 views      Add Reply

Pammie57 created a topic in 401(k) Plans

Form 5558's

Does anyone know of a reason that we cannot mail several 5558 forms in one envelope? we mail them certified. WE have about 10 clients who need an extension of their 5500-SF and 5500.
Number of replies posted  5 replies      Number of times viewed  62 views      Add Reply

austin3515 created a topic in 401(k) Plans

EPCRS Loan Correction

Looking at ECPRS 6.07: Quote "However, these correction methods are not available if the maximum period for repayment of the loan pursuant to § 72(p)(2)(B) has expired." Question 1 72p2B on its own references exclusively the 5 year term. But regs for 72p2C is what provides the grace period. I have a loan for which the 5 year term expired in June 2019. Are we entitled to use a grace period as well, giving us until 9/30/2019? Admittedly I'm having trouble getting there… Question 2 And then as a follow up, if that is not available, 6.07(2) seems to suggest that even if the loan was deemed in 2017, we can "cancel" the 2017 1099-R that was issued by the recordkeeper, have the employer fund any applicable withholding, and issue a new taxable 1099-R for 2019. Am I reading that correctly? Everything at issue here was clearly not the fault of the participant (there is general agreement that the recordkeeper let us down).
Number of replies posted  4 replies      Number of times viewed  40 views      Add Reply
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