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Message Boards Digest

September 11, 2020

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

kmhaab created a topic in 401(k) Plans

Affiliated Service Groups -- Current IRS Guidance?

"I'm having trouble determining whether the Affiliated Service Group proposed regulations still can be relied upon. Is it correct that Prop. Regs. §1.414(m)-1 through 4 have not been withdrawn and still can be relied on, until final regulations are issued) Does IRS Rev. Rul. 81-105 still apply?"

0 replies   |    20 views   |    Add Reply

rblum50 created a topic in IRAs and Roth IRAs

Retiree Puts Every DB Pension Payment Into a Roth IRA

"Client is a retired judge getting a pension from the Florida State Retirement System. Since 2017, he's been taking his retirement payments and transferring them into a Roth IRA for himself and his wife. The transfer to his wife's IRA is totally inappropriate, but, with regard to the husband, what penalties will be assessed on him for doing what he is doing?"

1 reply   |    37 views   |    Add Reply

Jakyasar created a topic in Retirement Plans in General

Revisiting Seasoned Contributions for Life Insurance in DC Plans

"Doing some research for an insurance agent about using seasoned contributions in a 401k plan that has 4 sources: Deferrals, match, safe harbor match and profit sharing. [1] Because all is considered employer monies, I can use 25% of cumulative contributions+forfeitures for universal life policies, correct? [2] Because all is considered employer monies, I can use 49.99% of cumulative contributions+forfeitures for whole life policies, correct? [3] This is where I cannot tell if I can use all sources as seasoned monies -- I am OK with the deferral and profit sharing sources but could not find any example including the match and safe harbor match (checked in the ERISA Outline Book but no reference to match or safe harbor match, not that I've seen any). Can the match sources be used for either for cumulative and/or seasoned contribution calculations?"

2 replies   |    38 views   |    Add Reply

jmartinrps created a topic in 403(b) Plans, Accounts or Annuities

403(b) Plan Document Recently Restated; When Is Next Cycle?

"If we just recently completed restatement of a 403b plan, when would the next cycle be due?"

0 replies   |    7 views   |    Add Reply

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