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Message Boards Digest

June 17, 2020

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

Gilmore created a topic in Retirement Plans in General

Controlled Group Here? Lotsa Attribution

"Company A is owned 45% Husband, 45% Wife, 10% adult child. Company B is owned 100% by adult child. If I attribute the mom's ownership to the adult child, then adult child owns more than 50%, and then is attributed Dad's ownership, and therefore is considered the 100% owner of Company A? Adult child than has 100% common ownership and 100% identical ownership, so Company A and Company B are a controlled group?"

2 replies   |    53 views   |    Add Reply

BG5150 created a topic in 401(k) Plans

Company Out of Business, Cannot Pay 2019 Safe Harbor

"Company went out of business, terminated its plan and all assets are liquidated. Problem is, the 2019 3% SH was never deposited. What do they do if the owner cannot afford the $32,000 3% Safe Harbor?"

4 replies   |    81 views   |    Add Reply

Gilmore created a topic in 401(k) Plans

Discontinue Safe Harbor Match, Start a Non-Elective Safe Harbor?

"If a plan discontinues the safe harbor match midyear due to financial downturn, can they amend before the year to a safe harbor non-elective (as permitted under the SECURE Act)? The information that I have from when the CARES Act first came out was that this was not permitted, but again, there have been so many updates I just want to be sure this is still a 'No'."

2 replies   |    49 views   |    Add Reply

Sharon D. created a topic in 401(k) Plans

Participant Education: Who Sells Good Materials?

"I'm back in the retirement plan field after many years of being out of it. Can anyone give me an idea of what materials or firms provide good participant education materials? I'm looking for both printed and possibly video delivery. In the past, there used to be a company called Newkirk where you could order customized materials from but they appear to be out of business. The firm I'm with has been preparing materials in house and they appear outdated and unprofessional."

0 replies   |    30 views   |    Add Reply

justatester created a topic in 401(k) Plans

Adding Safe Harbor NEC Per SECURE Act

"Plan wants to add a SH NEC via the Secure Act provisions. This gives them ADP SH but not ACP. The plan typically only passes ACP using borrowing. Can they still borrow from the ADP if it is SH? Also, testing method was prior; I assume they should amend to current for the ACP portion?"

3 replies   |    57 views   |    Add Reply

Catsby created a topic in Health Plans (Including ACA, COBRA, HIPAA)

Telemedicine Products Outside of Group Health Plans: Are They Subject to ACA?

"Several of our clients have been approached by vendors to offer telemedicine products outside of their group health plans (e.g., to part-time employee groups who are not eligible for medical coverage). It's always been my understanding that telemedicine benefits would constitute a group health plan and be subject to Affordable Care Act requirements (preventive services, etc.) that would be functionally impossible for a telemedicine benefit to meet (e.g., the requirement to offer immunizations). I've seen some vendors make the argument that the telemedicine benefits could fall under the excepted benefits rules, as EAPs. However, in order for an EAP to be an excepted benefit, it cannot offer significant benefits in the nature of medical care. I find it hard to believe a telemedicine benefit could meet that requirement. Are you guys also seeing these products becoming very common? Is there some rule I am missing that is allowing employers to offer standalone telemedicine benefits to their employees?"

1 reply   |    23 views   |    Add Reply

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