Message Boards Digest

January 3, 2020

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

Silver70 created a topic in Cafeteria Plans

Fringe Benefits -- Can I Use Special Accounting Period?

"Fringe Benefits -- Can I use Special Accounting Period? Our HR department just brought over a list of employees that received vouchers for Fitbits. They received the vouchers in late December. Are we able to use the Special Accounting Period for vouchers? I keep seeing it can only be used for noncash fringes, but was wondering if someone had experience correctly applying that rule to cash/gift cards/vouchers for wellness initiatives."

Number of replies posted  0 replies      Number of times viewed  17 views      Add Reply

Belgarath created a topic in Cafeteria Plans

'Opt Out' Benefits for a Small (Non-ALE) Employer

"Say you have an employer with less than 50 employees. They have no intention of ever having 50 employees. Their cafeteria plan offers an opt-out benefit for those who don't elect the employer's group health coverage. As I understand it, there can be three types of opt-out arrangements: unconditional, conditional, or an 'eligible opt-out arrangement' -- which is a conditional arrangement that also meets specific additional criteria. If the employer is a non-ALE, what is the downside, if any, to having an 'unconditional' opt-out arrangement, other than possibly affecting the affordability calculation for purposes of whether an individual is eligible for a subsidy for policies purchased on an exchange? Seems like a conditional opt-out arrangement, for a small employer, may unnecessarily restrict the employee from choosing to buy individual coverage?"

Number of replies posted  0 replies      Number of times viewed  24 views      Add Reply

Doublehill created a topic in SEP, SARSEP and SIMPLE Plans

Eligibility for a SEP-IRA Contribution If I Leave My Employer

"My current employer provided all employees with a SEP account. We have small contributions made monthly. Once taxes and profits are figured for the year, we usually get a larger contribution around March which brings total contributions to 25% of gross income. I will be leaving the employer in a few days. I want to make sure I'm eligible. I worked all of 2019, as well as the previous 4 years. My concern is that the employer uses the monthly disbursements and a workaround in case someone leaves."

Number of replies posted  2 replies      Number of times viewed  35 views      Add Reply

MaryOKTPA created a topic in Retirement Plans in General

Effect of SECURE Act on Participant Who Has Already Taken Their First RMD

"A person who took their first RMD in 2019 (when they turned 70-1/2). Per the SECURE Act, are they required to take their RMD in 2020 or can they skip and take this RMD when they turn 72 (in 2021)?"

Number of replies posted  4 replies      Number of times viewed  43 views      Add Reply

BG5150 created a topic in Distributions and Loans, Other than QDROs

One Contingent Beneficiary Is Deceased -- Is Other Now 100%?

"A participant and his primary beneficiary are deceased. There are two contingent beneficiaries with 50% allocations. If one of the contingent beneficiaries passes away, would the surviving benefit become the 100% beneficiary?"

Number of replies posted  2 replies      Number of times viewed  28 views      Add Reply

Bill Presson created a topic in How to Use the Message Boards (a.k.a. Forums)

Condensed View Gone

"This morning when looking at my 'unread' message list like I do almost every day, it was automatically showing the expanded view (title and first several lines). I clicked the condensed view to change back, but nothing happened. Not the worst thing in the world, but not sure why it changed and can't be corrected. Thanks. WCP"

Number of replies posted  1 reply      Number of times viewed  21 views      Add Reply, Inc.
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