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Message Boards Digest

August 4, 2020

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

Pammie57 created a topic in 401(k) Plans

Vesting at Normal Retirement Age of 55 While Still Employed

"Client acquired another practice in 2016. They didn't give credit for prior service with prior employer for purposes of vesting, etc. Three doctors attained NRA (which is age 55 in this plan) during their employment with client. All of them worked less than 5 years before either retiring, quitting, etc. Would they still be 100% because they met NRA while employed? Plan's adoption agreement specifies 'specific age': age 55. It doesn't have the age/participation box checked. So I'm asking whether you agree that they would be 100% based on that. It's a LOT of money because they fund the plan every year."

3 replies   |    48 views   |    Add Reply

Lyndsey Thompson created a topic in Continuing Professional Education

Looking for Used Copy of QKA DC 1 and 2 Study Materials

"I'm looking for a used copy of the DC-1 and DC-2 Study Guide materials from ASPPA. Any suggestions or is that allowed?"

1 reply   |    24 views   |    Add Reply

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

COVID Loans: How Does Existing Loan Affect the $100k Cap?

"Plan allows for two loans at a time. Participant has one loan outstanding and qualifies under COVID to both suspend on the existing as well as take out a new loan, the total of the two not to exceed $100K. Is the $100K offset by the outstanding balance of the existing loan?"

1 reply   |    29 views   |    Add Reply

Jakyasar created a topic in Form 5500

No Form 5500 Form Filed But No Plan Assets at Dec. 31

"401k plan effective 2017 but no deferrals were made nor any other contributions -- a bunch of participants (owners and rank & file) at 12/31/17 but no assets. During 2018 there were deferrals and other contributions. Same for 2019. Client sends data to me for the first time since inception, last week. They had to file a Form 5500 for 2017, correct? For 2018 they did not file. DVFC for 2017 and 2018?"

2 replies   |    44 views   |    Add Reply

Dalai Pookah created a topic in Retirement Plans in General

What Is Measuring Date for Existence of a Controlled Group? For an Affiliated Service Group?

"An attorney has a P.C. (100% owed). He also owns 50% of a CPA firm with which he is associated. No doubt this is an A-Org/FSO ASG. Some time in 2020 he sells his interest in the CPA firm. He still works there, but is no longer an owner. Does this break the ASG in 2020? When do we make that determination? First day of the year? Last day of the year? Any day of the year? I don't see any guidance on this. If this were a controlled group issue, does the determination date differ?"

2 replies   |    48 views   |    Add Reply

Philip created a topic in Retirement Plans in General

Employer Didn't Make All of My Payments Into My SIMPLE Plan Account for Many Years

"I just realized that my previous employer didn't pay most of my payroll deductions or the company match for 9 years into my account. I don't even know where to begin getting my money back. Can someone help?"

5 replies   |    41 views   |    Add Reply
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