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Here are the most recently added topics on the BenefitsLink Message Boards:
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Belgarath created a topic in Health Savings Accounts (HSAs)
"Curious to know what 'fix'--if any, might be available. Say an employer withheld HSA contributions in a prior year (2019). Never deposited them into the HSA. W-2 for 2019 showed the deductible HSA amounts. Now the error is discovered. Is it just a case of 'so sorry, too bad' and a revised 2019 W-2 must be done, or is there a 'correction' such as depositing the HSA funds now (although I suppose the HSA custodian might not allow it anyway)."
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Peter Gulia created a topic in Retirement Plans in General
"Here's a brain-teaser for the super-smart BenefitsLink mavens. A section of the Consolidated Appropriations Act of 2021, if enacted into law, amends Code Section 401(a)(36) to allow a Section 401(a)-qualified plan to provide a distribution to a worker not yet separated from employment as soon as age 55. But that change applies only for 'a multiemployer plan ... with respect to individuals who were participants in such plan on or before April 30, 2013, if -- (i) the trust to which [the before-separation provision] applies was in existence before January 1, 1970, and (ii) before December 31, 2011, at a time when the plan provided that distributions may be made to an employee who has attained age 55 and who is not separated from employment at the time of such distribution, the plan received at least [one] written determination from the [IRS]
that the trust to which [IRC Section 401(a)(36)(A)-(B)] applies constituted a qualified trust under [IRC Section 401].' Which plan our there does that provision apply to? (It's not named in the statute, but obviously the many particular conditions are intended to describe a particular plan.)"
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Peter Gulia created a topic in Retirement Plans in General
"The Consolidated Appropriations Act of 2021, if enacted into law, will treat a situation in 2020 as not a partial termination 'if the number of active participants covered by the plan on March 31, 2021 is at least 80 percent of the number of active participants covered by the plan on March 13, 2020.'"
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Peter Gulia created a topic in Retirement Plans in General
"The Consolidated Appropriations Act of 2021 (if enacted into law) amends, retroactively, the CARES Act to allow a tax-qualified money urchase plan to provide a coronavirus-related distribution!"
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Gadgetfreak created a topic in Nonqualified Deferred Compensation
"A client wants to set up a funded 409A Top-Hat/SERP Plan for executives with participant direction. As I look for a provider that offers this, I wonder about any tax reporting requirements. The funds remain an asset of the employer until distribution and are in an investment account. Do the earnings on that account need to be reported as they have increased the value of the employer's assets? Or is their an exemption for a 409A Plan?"
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Tom created a topic in 403(b) Plans, Accounts or Annuities
"We are planning to restate for cycle 3 plans in the process of terminating. So there are 3 kinds of terminating plans. Curious as to thoughts about this. [1] Plan termination amendment prior to 8/1/2020 but funds still in the plan after that date. [2] Plan termination amendment after 8/1/2020 and funds paid out in fall of 2020. [3] Plan termination amendment after 8/1/2020 and funds not out of the plan until January 2021. Thank you for your comments."
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ac created a topic in 401(k) Plans
"Is it possible to amend a 401(k) Plan with a non-elective safe-harbor to add In-plan Roth Rollovers before the end of the year?"
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DR245 created a topic in SEP, SARSEP and SIMPLE Plans
"Are there any legal loopholes that an employer can use to not pay former employees for a SIMPLE IRA plan that was not administered properly (at all)? For example, an employee was at the company for 5 years and during this time there was a SIMPLE IRA plan in place but the employer failed to notify any employees for 12 years. Fast forward to 2020 and the employer was notified and fixed the mistake for the current employees but never contacted any former employees. When the employer hired an ERISA attorney to handle the VCP, is there anything available to the attorney to NOT consider past employees, especially when they could be easily contacted?"
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Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:
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GranthamPoole PLLC
Ridgeland MS
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Creative Pension Consultants, Inc.
Telecommute / Albany NY
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Ubiquity Retirement + Savings
Telecommute / San Francisco CA / AZ / CO / FL / IL / KY / LA / MA / NC / NJ / NV / NY / OH / OR / RI / SC / TN / WA
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American Retirement Plan Services, LLC
Telecommute / Hunt Valley MD / DC / DE / PA
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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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