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BenefitsLink
Message Boards Digest
January 3, 2020
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Here are the most recently added topics on the BenefitsLink Message Boards:
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Silver70 created a topic in Cafeteria Plans
"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."
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Belgarath created a topic in Cafeteria Plans
"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?"
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Doublehill created a topic in SEP, SARSEP and SIMPLE Plans
"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."
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MaryOKTPA created a topic in Retirement Plans in General
"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)?"
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BG5150 created a topic in Distributions and Loans, Other than QDROs
"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?"
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Bill Presson created a topic in How to Use the Message Boards (a.k.a. Forums)
"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"
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David Rhett Baker, J.D., Editor and Publisher davebaker@benefitslink.com
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