Message Boards Digest

January 7, 2021

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

Tbell created a topic in Qualified Domestic Relations Orders (QDROs)

QDRO Amendment

"Hello, in 1994 my ex husband agreed to a QDRO (Total number of months during marriage which participant participated in (*** retirement account) to wit: 123 months / over/ Total number of months of participants active participation in (***) as of the date of retirement or termination from service X.50 X Gross amount of monthly income Recently his attorney sent me a modification to sign. The company filed for bankruptcy in 2015 and the QDRO was replaced with a different benefit plan. The new amendment states "shall not apply to any special termination program benefits which the participant is or may become eligible to receive under *** Appendix S" Should I be entitled to those benefits as well? My attorney is not replying and I need to decide how to proceed = any help advice is appreciated."
3 replies   |    42 views   |    Add Reply

draper1 created a topic in Retirement Plans in General

Plan numbers

"Should plan numbers 001,002 etc. be by ein or ultimate parent within a controlled group? It would seem the same ein should not have two plans with the same number. Does it matter though if two separate eins within the controlled group both have a plan 001 or is more proper to name them 001 and 002?"
1 reply   |    30 views   |    Add Reply

RestAssured created a topic in Cross-Tested Plans

Tutorial Needed (Ok, a long class....)

"I have been a TPA for very small clients for many years. I took a *wonderful* class taught by Norm Levinrad at NIPA a couple years ago, and I STILL refer to my copious notes. I have relied on my software (Datair) to calculate everything for me, and I have more than a general idea of how New Comp works. HOWEVER, I want to fully understand New Comp. I have a couple plans that I spend hours on each year, moving peas (ee's) under nutshells (alloc groups) to pass the tests. But if I fully understood this stuff, I'd feel so much better. Is there a webinar, a class, a tutorial, a book - that would explain the basics of New Comp?? A "New Comp for Dummies", if you will. I feel like a dummy. I'm willing to pay for this "class" (within reason). I want to know things like: (1) WHY does a participant who worked 150 hours have to get an allocation? (2) WHY does the allocation have to go on full year comp, when a participant entered on July 1? (3) How do I calculate (by hand) EBARs? etc etc etc Norm's classes were great, believe me, but it was like drinking from a fire hose and I'm still soaked! Thanks for anyone taking their time to point me in a good direction. (Maybe there are others who feel the same way? Maybe we could do a zoom class???)"
1 reply   |    36 views   |    Add Reply

Rose created a topic in 401(k) Plans

Compensation when deferral feature added mid-year

"We have a plan that was established 1/1/2020. It allows prevailing wage and profit sharing contributions as of 1/1 but the effective date of the deferral provision is 4/1/2020. Should the compensation used for the ADP test be for the time period the deferral was effective, so 4/1 - 12/31/2020? We normally use prevailing wage as a QNEC in the ADP test so it seemed like we would need to use full year compensation if we used the QNEC."
1 reply   |    28 views   |    Add Reply

austin3515 created a topic in 401(k) Plans

Mid-Year Safe Harbor Changes

"Can I amend a 3% Safe Harbor Plan to exclude different items of compensation prospectively mid-year? I cant find anything on point but it feels like a back door reduction in the SHNEC, the consequence of which of course is to blow my safe harbor for the year. Has this been addressed anywhere? I'm just surprised that no one ever wrote in one of these articles "Be careful! If you amend to reduce eligible comp that is a de facto reduction the contribution formula!""
3 replies   |    45 views   |    Add Reply

mming created a topic in Form 5500

Delinquent Form 8955-SSA

"Happy New Year everyone! We are doing a DFVC filing for a return that requires an 8955-SSA. We've done DFVC filings before but they've never involved an 8955. The DFVC page of the IRS website refers to Notice 2014-35 with a link to the Notice, which states that the 8955 must be filed no later than December 1, 2014. I haven't been able to find any evidence, on the IRS website or anywhere else, that this deadline has been extended. I would have guessed that this would've become a permanent relief program for the 8955, much like how the pilot DFVC program for the 5500-EZ became permanent. Can anyone verify that this deadline has been eliminated and that one can currently get penalty relief for a delinquent 8955 if a paper copy is filed after a DVFC filing is made for the accompanying 5500-SF? If a cite can be provided, that would be great!"

1 reply   |    20 views   |    Add Reply

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