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Message Boards Digest

October 25, 2019

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

Cynchbeast created a topic in Retirement Plans in General

Bonding Requirement for Plan Having Only HCEs

"We have a client with DB and PS and the only participants are him (100% owner) and his mother. There are no other employees and so no other participants in the foreseeable future. What is IRS position on bonding for such a plan?"

Number of replies posted  2 replies      Number of times viewed  42 views      Add Reply
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MjInvestments created a topic in 401(k) Plans

Plan Not Using Index Funds -- Need to Document Why Not?

"I recently had another Investment professional mention to me they are using index funds because of DOL guidance and that any deviation from index funds should be documented (i.e., reasons why you index funds are not being used). Has anyone seen any guidance like this? Is there any specific investment guidance from the DOL regarding which funds should be used?"

Number of replies posted  4 replies      Number of times viewed  58 views      Add Reply

rocknrolls2 created a topic in Multiemployer Plans

Can Fund Be Bound by CBA to Provide Claims Information to Contributing Employer?

"Under a multiemployer health and welfare plan, an employer and a local union enter into a collective bargaining agreement which includes a provision that permits the employer to request detailed claims information (which has been santized of HIPAA protected health information) from the fund. The fund is not a signatory to the collective bargaining agreement but later an individual who is both a local union officer and a union trustee for the fund signs in both capacities assenting to the preceding terms, including the portion of the CBA allowing the employer to request detailed claims information. Does the signature on a letter by an individual who is both a local union officer and a union trustee for the fund in both capacities bind the fund to comply with the employer's request for detailed claims information?"

Number of replies posted  0 replies      Number of times viewed  20 views      Add Reply

FortinDM created a topic in Plan Terminations

Terminated Plan, Final 5500 Filed But More Investments Discovered -- Rollover Opportunity Lost?

"Plan terminated and final short-year 2017 5500-EZ was filed (single/owner PS plan). All known assets were rolled over to an IRA in 2017. It was discovered recently in 2019 that [2] plan investments- stocks worth a fairly substantial amount -- still exist. It was apparently discovered due to dividends being paid this year. These [2] investments were held outside the main brokerage account but per the client, were/are titled in the plan's name. Client wants to rollover these [2] investments now to an IRA. Due to the passage of time between plan termination and now, I'm thinking it would be a failed/excess IRA rollover. How do we fix this?"

Number of replies posted  2 replies      Number of times viewed  32 views      Add Reply
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