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Message Boards Digest

February 16, 2021

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

MjInvestments created a topic in 401(k) Plans

Start a 401(k) to Receive Rollovers Without Making Future Employer Contributions?

"Colleague (RIA firm) has a client whose income is from real estate holdings, so all passive income, but wants to start a Solo 401(k). The client knows they cannot contribute to a 401(k) because they have no W-2 income/earned income. They have no intention of making further contributions. They want use the Solo 401(k) to receive rollovers from large IRAs so they can begin doing backdoor Roths on their personal money and won't have to deal with aggregation rules of the large IRAs. Can do?"

12 replies   |    83 views   |    Add Reply

Jakyasar created a topic in Defined Benefit Plans, Including Cash Balance

412(d)(2) Election Needed for Mid-Year Benefit Increase?

"Calendar plan. BOY valuation. Amendment to increase benefit adopted before 12/31/2020 but after 1/1/2020. Do they need to adopt some kind of amendment election?"

2 replies   |    37 views   |    Add Reply

RestAssured created a topic in Retirement Plans in General

Employee Terminated Mid-Year Prior to Retroactive Adoption of New Plan

"401(k) plan was adopted in September 2020, effective as of January 1, 2020 (for its PS portion). An employee terminated in August (i.e., prior to adoption of plan). She had over 10 Years of Service, so she is in the plan and receives a PS contribution, correct? (The sponsor is using New Comp, so the individual needs to receive something in order for testing to pass.)"

1 reply   |    20 views   |    Add Reply

Nic Pospiech created a topic in 401(k) Plans

3% PS Contribution in a SHNEC Plan -- Passes 401(a)(4) Automatically If No Other Contributions?

"I have a Safe Harbor Non-elective plan (3%). The plan sponsor is not going to provide any Profit Sharing or Match this year -- only the 3% contribution. Will this plan automatically pass 401(a)(4) testing?"

1 reply   |    22 views   |    Add Reply

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