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Message Boards Digest

July 15, 2020

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

5500sorBust created a topic in Defined Benefit Plans, Including Cash Balance

Synthetic GIC in a Defined Benefit (DB) Plan?

"Synthetic GIC for a DB plan -- possible? Or is it only available to DC plans?"

0 replies   |    26 views   |    Add Reply

Santo Gold created a topic in Distributions and Loans, Other than QDROs

20% Still Required to Be Withheld from Distributions?

"We have a terminated 100% vested participant (under 59-1/2) who wants to take all of her money out of the plan as a cash distribution. The plan has not adopted any of the CARES Act relief measures. The participant is claiming that 20% is not required to be withheld since she is claiming she was impacted by COVID-19. But this is a distribution due to termination of employment, not an ISW. Is she correct?"

8 replies   |    108 views   |    Add Reply

Griswold created a topic in 401(k) Plans

Odd Clause in Employment Agreement: 401(k) Contribution Goes Up in Successful Years

"I came across this odd clause (copied below) in an employment agreement where they promise an additional contribution (to all employees as I read it, but this is the only individual with an EA) to their 401(k) plan during successful financial years. I suppose an employer can decide however they want to make a nonelective contribution, but it strikes me as strange to put it here. Haven't seen the plan document yet. Is this kosher? Anything horrible I'm missing, either from a qualification perspective or an employment law perspective?"

Retirement. Employee shall be able to contribute to a 401k plan from the first date of service. [Company] will contribute a guaranteed three percent (3%) of the Employee's salary at the end of each contract year of the Term. This amount will increase for all [Company] employees at the conclusion of successful financial years. Specifically, when income over expenses exceed X Hundred Thousand and 00/100 Dollars ($X00,000.00) this retirement contribution shall increase to x percent (x%) and when income over expenses exceed Y Hundred Thousand and 00/100 Dollars ($Y00,000.00) this retirement contribution shall increase to Y percent (Y%).

8 replies   |    97 views   |    Add Reply

Qdroquery created a topic in Retirement Plans in General

Need expert QDRO attorney

"Can anyone recommend an expert QDRO attorney who can represent someone regarding pension award complicated by qualified and non- qualified sourced funding in north central florida?"

1 reply   |    34 views   |    Add Reply

Qdroquery created a topic in Qualified Domestic Relations Orders (QDROs)

QDRO legal expert needed

"Can anyone recommend a north central based Florida QDRO expert who can help word QDRO and possibly represent party for pension partially funded with qualified funding and partially funded with non qualified funding? Need is immediate. Thanks."

0 replies   |    21 views   |    Add Reply

B21 created a topic in Retirement Plans in General

Partner Has Negative Basis -- Still OK to Take a Pension Deduction?

"Can a partner take a deduction for pension contributions to his 401k plan if he has net earned income for the year but is carrying a negative partnership basis on the books?"

5 replies   |    38 views   |    Add Reply

Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:

View job as Senior Retirement Analyst

Senior Retirement Analyst  View details

Dunbar, Bender & Zapf, Inc.
Telecommute / Pittsburgh PA

View job as ESOP Administrator

ESOP Administrator  View details

Dunbar, Bender & Zapf, Inc.
Telecommute / Pittsburgh PA

View job as Retirement Plan Sales Consultant

Retirement Plan Sales Consultant  View details

Primark Benefits
Burlingame CA

View job as Retirement Plan Account Manager

Retirement Plan Account Manager  View details

The Partners Group
Telecommute / Portland OR

View job as Human Resources Section Manager

Human Resources Section Manager  View details

Miami-Dade County
Miami FL

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