Message Boards Digest

December 26, 2019

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

Logan401 created a topic in 401(k) Plans

How to Handle Unwanted Life Insurance Policies During a Plan Merger

"In the event an employer wants to merge a prior plan that contained life insurance policies in the accounts of its participants into a successor plan that does not permit life insurance, what options does the client have in regards to those life policies?"

Number of replies posted  1 reply      Number of times viewed  60 views      Add Reply

imchipbrown created a topic in 401(k) Plans

SECURE Act: Non-Elective Contribution Notice

"I saw this in an article about the SECURE Act:

"Nonelective 401(k) Safe Harbor Changes for Traditional and QACA Safe Harbors - The SECURE Act eliminates the notice requirement for safe harbor plans that make non-elective contributions to employees.

"I can't put my finger on this in the of the Act. Can someone confirm this?"

Number of replies posted  4 replies      Number of times viewed  112 views      Add Reply

Flyboyjohn created a topic in 401(k) Plans

SECURE Act: Will Self-Employed Persons Be Able to Make Retroactive 401(k) Deferrals in 2020?

"The SECURE Act permits retroactive adoption of qualified plans during an employer's tax return filing period beginning with 2020 tax years. Obviously can't include retroactive 401k deferrals for corporate employees receiving W-2s. But given the long running debate over the 'deadline' for self-employed persons (proprietors and partners) to make 401k deferrals, has anyone considered whether the new provision will allow self-employed to make retroactive 401k deferrals? For example, some practitioners take the position that 401k deferrals can't be elected or deposited until the amount of self employment income has been determined which can be as late as the extended due date for the tax filing. So could a 'solo K' be adopted by a proprietor on 10/15/2021 to create a 2020 tax deduction?"

Number of replies posted  2 replies      Number of times viewed  74 views      Add Reply, Inc.
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