Message Boards Digest

October 16, 2020

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

ALS created a topic in 401(k) Plans

Applying the RMD 10-Year Rule to All Non-Spousal Beneficiaries

"Prior to the SECURE Act, plans could choose which beneficiaries to apply the 5-year rule to. The default was to only nonperson nonspouse beneficiaries. Some plans would apply it to all nonspouse beneficiaries. With the SECURE Act, can plans apply the 10 year rule to all nonspouse beneficiaries, including eligible designated beneficiaries (EDBs)? Or must EDBs receive RMDs starting the year after death?"

1 reply   |    29 views   |    Add Reply

Francis created a topic in 401(k) Plans

Testing Two Plans in a Controlled Group

"Two employers in a controlled group run separate 401k plans. The transition rule is ending soon. Is it correct that if the plans continue to operate separately, they won't be pulled together at all for testing purposes if the plans independently pass testing on their own? If yes, it seems both could be Safe Harbor with different matching formulas and could stay separate and pass all testing. Too good to be true?"

2 replies   |    56 views   |    Add Reply

austin3515 created a topic in 401(k) Plans

Any Extension of the Scheduled Year-End Sunset for Corrections of Missed Deferrals under Auto-Enrollment?

"Has the IRS made a decision about whether or not they will extend the Auto Enrollment missed deferral corrections in ECPRS which sunset at the end of the year?"

2 replies   |    19 views   |    Add Reply

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

Sales Charges on 'A' Shares During Repayment of a Participant Loan

"Client is invested in Mutual Funds (A Shares) in a qualified plan. They take a loan for $20,000 and start making repayments on the loan. The repayments are reinvested into the A shares. They're incurring sales charges on the A shares. Do others follow this process, or do you refrain from applying sales charges on such A Shares?"

0 replies   |    3 views   |    Add Reply

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