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BenefitsLink
Message Boards Digest
December 16, 2020
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Here are the most recently added topics on the BenefitsLink Message Boards:
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thepensionmaven created a topic in Defined Benefit Plans, Including Cash Balance
"We recently took over the administration of a combination CB/401(k). The 401K is a calendar year plan but the CB is Sept. 1 through Aug. 31. Client wants to move the CB to have a calendar plan year. We'd have a short plan year in the SC 9/1/2020-12/31/2020. Client is in cash flow (who isn't these days?) and wants to keep the CB as low as possible. The limitation year is calendar for both plans. Thinking of doing CB with actual salaries 9/120-12/31/20 and full calendar year for 401K, but that doesn't sit right. Full calendar salaries for both and then pro-rata for the CB contribution?"
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NW529 created a topic in 401(k) Plans
"A plan is effective as of 1/1/2020. Not a Safe Harbor plan. The owner is over 50 and contributes $4,000. No other employees contributing. Her ADP refund will be recharacterized as catch-up. For the 12/31/2020 Top Heavy test, is her balance excluded from the ratio because it is characterized as catch-up? Is the plan considered Not Top Heavy at 0% for 12/31/2020 (2020 and 2021 plan years)?"
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J Simmons created a topic in Retirement Plans in General
"New client spaced off both EGTRRA and PPA '06 restatements. Does it take two or just one VCP application/fee to correct?"
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Jakyasar created a topic in Retirement Plans in General
"Owner of corporation got $20k salary in PPP monies and $50k salary from corporation, thus $70k on Form W-2 for 2020. Wants a profit sharing deduction for 2020. Which amount can the corporation contribute and deduct for? $50k or $70k?"
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dmb created a topic in 401(k) Plans
"I've been asked to help with a QMAC calculation, though I've never done one. Does the unrestricted up to 5% of comp apply to QMAC as I think it does for QNEC? Can it be targeted or bottom up as long as it's no more than 5% of comp?"
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Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:
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Pentegra
Telecommute / West Harrison NY
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MGKS
Telecommute / Phoenix AZ
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Ascensus
Telecommute / CT / DE / FL / MD / ME / NC / NH / NJ / NY / OH / PA / RI / SC / VA / VT
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Centers for Medicare & Medicaid Services [CMS]
Telecommute / Washington DC
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DCS
Telecommute / Atlanta GA
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The Angell Pension Group, Inc.
Telecommute
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BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park, Florida 32789
(407) 644-4146
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Lois Baker, J.D., President loisbaker@benefitslink.com
David Rhett Baker, J.D., Editor and Publisher davebaker@benefitslink.com
Holly Horton, Business Manager hollyhorton@benefitslink.com
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