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BenefitsLink
Message Boards Digest
January 21, 2020
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Here are the most recently added topics on the BenefitsLink Message Boards:
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chibenefits created a topic in Health Plans (Including ACA, COBRA, HIPAA)
"Medical plan requires that a participant be 'actively at work' to be eligible. The definition of 'actively at work' includes the following: 'As required by HIPAA, absence from work due to any health factor (such as being absent from work on sick leave) is treated, for purposes of the Plan or coverage under the Plan, as being actively at work.' I have not ever heard of such a requirement under HIPAA. What provision(s) of HIPAA or the regs address(es) this?"
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Pam S. created a topic in Distributions and Loans, Other than QDROs
"We have a client whose plan allows for hardships from 401k Deferrals and Safe Harbor sources using the safe harbor rules. The participant's dependent needs a $2,000 prescription each month. The medication is not covered by their insurance. The participant asked if it would be possible to get a hardship distribution to cover the cost of the medication for the next 3 years ($2,000 each month for the next 36 months). My concern here is that he won't actually have proof of the hardship for a total of $72,000. He'll only have a monthly bill for the medication. Which means he'd need ito submit a hardship request each month to cover the cost of the medication. Agree? Suggestions as to how to help these people?"
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hsally created a topic in 401(k) Plans
"My company offers 401K, but they're shady and don't deposit the funds in the 401K acct for months. They do it when they're caught after multiple reminders and much pressure. Also, no match. I'm tired of the cat and mouse game with them. I'd like to contribute nothing this year and instead do my own IRA. If i read this right -- https://www.irs.gov/retirement-plans/are-you-covered-by-an-employers-retirement-plan -- then if i contribute nothing to my 401K all year, I'm not considered covered such that I am allowed contribute to IRA (as if my employer didn't have a 401K plan). Am i interpreting that right?"
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perkinsran created a topic in 403(b) Plans, Accounts or Annuities
"Client contributes 7% as employer contributions if employee contributes at least 5%. Less than 5% employees receives $0. In testing this plan for nondiscrimination testing, would it fall under ACP or 401(a)(4)?"
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JenniferWKC created a topic in Qualified Domestic Relations Orders (QDROs)
"I have a successful QDRO in place that cover both the debt incurred in marriage and my 50%. My ex-husband had a loan balance that incurred during our marriage that he has now paid back into his 401K in the state of Missouri. He is now behind on child support. He hasn't filed income tax for the last 2 years. I can guarantee that he's not going to file for 2019. My question is, how can I amend the judge-signed QDRO to collect on the arrears he has incurred? Is it possible to collect on 3 months of future payments as a safety net that he doesn't fall back in the near future?"
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EBECatty created a topic in 401(k) Plans
"I believe this is permissible, but am hoping someone with more testing experience can confirm. Say Company A acquires the assets of Company B. Company B employees will become Company A employees at closing. Company A has a safe harbor match 401(k) plan, and Company B has a safe harbor nonelective 401(k) plan. If Company A assumes sponsorship of Company B's plan, can both plans be maintained separately (for their respective pre-acquisition employee populations) during the 410 transition period without any adverse testing consequences?"
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t.haley created a topic in Distributions and Loans, Other than QDROs
"Plain language of SECURE Act prohibits loans from a 401k plan using credit or debit cards, effective for loans made on or after 12/20/19. Despite this, plan sponsor issued loans to multiple participants after this date using credit card method (but has since ceased doing this). Any other remedy other than issuing 1099-MISC to these participants who got loans via credit card after 12/20/19?"
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David Rhett Baker, J.D., Editor and Publisher davebaker@benefitslink.com
Holly Horton, Business Manager hollyhorton@benefitslink.com
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