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Message Boards Digest

August 16, 2019

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

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

Looking for 412(i) Plan TPA for 1-Person Plan

Looking for 412(i) Plan TPA for a 1-person plan (me) -- Thanks, Ray J. Jr.

Number of replies posted  2 replies      Number of times viewed  45 views      Add Reply
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ATM created a topic in 403(b) Plans, Accounts or Annuities

Less Than 20 Hours/Week -- Counted in 410(b) Test for Matching Contributions?

If a plan excludes those who work less than 20 hours/week as ineligible to make deferrals and the match requirement is a year of service (no hours), would those who work less than 20 hours/week be excluded from the 410(b) test for the matching even if they have more than a year of service?

Number of replies posted  0 replies      Number of times viewed  18 views      Add Reply

CaliBen created a topic in Other Kinds of Welfare Benefit Plans

Full Pay During Intermittent FML But No Pay During Continuous FML -- OK?

Any legal issues with an employer policy that pays employees full pay when they take intermittent Family and Medical Leave, but no pay for employees taking continuous FML?

Number of replies posted  1 reply      Number of times viewed  19 views      Add Reply

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

Looking for an Old Mortality Tables

I am trying to find a table that would come close to a rate for a very, very old governmental plan (which was using an insurance company annuity rate of about $130 F/$112 M age 65 -- interest would be 6.5%).

Number of replies posted  2 replies      Number of times viewed  34 views      Add Reply

jtbrown1111 created a topic in 401(k) Plans

Employer Closing My Safe Harbor 401(k) -- No Final Contribution Required?

My employer is closing our 401k Safe Harbor account 8/31/2019. As of yet they have given no written notice of this and also indicated they would not be required to make the 3% contribution for the year. Is this correct ?

Number of replies posted  6 replies      Number of times viewed  68 views      Add Reply

Pension RC created a topic in Defined Benefit Plans, Including Cash Balance

Application of Early Withdrawal Penalty to Participant Age 59-1/2

I work on a mid-sized DB plan that generally doesn't pay lump sums, but has opened up a lump sum window until the end of the year. One terminated participant, who would like to take the lump sum, was born on 7/1/1960. Therefore, he will be 59-1/2 years old on 12/31/2019. If his distribution is not processed until 12/31/2019, can he avoid the early withdrawal penalty?

Number of replies posted  3 replies      Number of times viewed  48 views      Add Reply

CEB50 created a topic in Qualified Domestic Relations Orders (QDROs)

Rollover of QDRO Distribution That Includes Roth Money

An alternate payee is ready to take her QDRO distribution out of Nationwide. Part of the money she received from her ex-spouse is Roth money. There is no prohibition on her rolling the entire Roth balance out, correct? She's either rolling everything to an IRA or to another 401k plan.

Number of replies posted  2 replies      Number of times viewed  37 views      Add Reply

DCRet24 created a topic in Qualified Domestic Relations Orders (QDROs)

Have a Choice Among Funds in Participant's Account to Use for QDRO Distribution?

I have a QDRO that pays a specific dollar amount plus gain/loss through distribution date. Can the participant specify the fund he wants the alternate payee to be paid from, or does it have to be pro-rated across all funds in his account?

Number of replies posted  2 replies      Number of times viewed  41 views      Add Reply

mjf06241972 created a topic in Distributions and Loans, Other than QDROs

Serving as a 3(16) TPA -- What's Been Your Experience?

Anyone offer 3(16) services as a TPA? What details can you provide with regard to experiences?

Number of replies posted  1 reply      Number of times viewed  32 views      Add Reply

M Norton created a topic in 401(k) Plans

Sponsor 401(k) and SEP at Same Time?

Can an employer sponsor a 401(k) and a SEP at the same time? Only 3 employees plus owner (who gets no compensation except health insurance reported on K-1 as guaranteed payments). One employee long-term, other two employees less than 3 years service. Owner wants to reward long-term employee but doesn't want to create big taxable income for him, so considering doing a SEP contribution. Long-term employee would meet 3-of-5 years eligibility but other two employees would not for the current year.

Number of replies posted  0 replies      Number of times viewed  27 views      Add Reply

greg created a topic in 401(k) Plans

Hardship Required Before Loan Can Be Made, Or So They Now Say

I have gotten loans in the past and haven't had any problems, but last week I tried to get a loan to try to pay off credit card debt and the 401(k) company says "hardship" only. Clearly in my addendum it says there are no restrictions on my policy (no hardships). Can they do that?

Number of replies posted  1 reply      Number of times viewed  40 views      Add Reply

asdfgdfa created a topic in 401(k) Plans

Are RMDs Triggered Once a Distribution Is Taken?

Participant is older than 70-/12 and is still working. The plan only allows withdrawals with an RMD, so if they take a withdrawal this year they will also take an RMD. If they take a withdrawal + RMD this year, and continue working next year but don't take any withdrawals next year, will an RMD be required next year? Are the RMDs permanently triggered?

Number of replies posted  4 replies      Number of times viewed  61 views      Add Reply
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