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Message Boards Digest

April 19, 2021

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

chibenefits created a topic in Employee Stock Ownership Plans (ESOPs)

Continue as ESOP Trustee Post-Sale?

"Is there any reason that a former owner and/or his family members cannot continue to act as ESOP trustee as long as the new owner approves?"

0 replies   |    24 views   |    Add Reply
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Chaz created a topic in Health Plans (Including ACA, COBRA, HIPAA)

COBRA Available Even After Refusing Offer of Reemployment?

"An employee was furloughed in early 2020. He is offered COBRA but does not elect it. His employer calls him back to work in June 2020. He declines to come back because he has other employment but he's not eligible for coverage at that job. Is this employee eligible for the second COBRA election period and the COBRA subsidy? I think he is, because his qualifying event was an involuntary termination of employment and the resulting voluntary decision not to return is irrelevant. That result doesn't sit well with me. I haven't seen any DOL or IRS guidance on this."

0 replies   |    20 views   |    Add Reply

Lucky32 created a topic in 401(k) Plans

Deductibility by Employer of Amount of Employees' Deferrals

"W-2 wages are a deductible expense on a business tax return, whether the recipient is an owner or a nonowner, of course. Now, I've been told by some people that deferrals (for both owner and nonowner) are deductible on the business return, because they are a type of employer contribution even though they originate from paychecks. The Internal Revenue Code considers them employer contributions in this respect, it was explained, because the employer established the 401k plan, so W-2 amounts that are deferred can be deducted twice -- once as wages and again as deferrals. That3 seems too good to be true. It makes more sense to me that, although non-deferred W-2 amounts are deductible as wages, the deferred amounts are deductible only as deferrals -- so the same dollars aren't deducted twice. I've heard both sides of this debate -- what is the correct explanation?"

5 replies   |    64 views   |    Add Reply

Judith Morse created a topic in Distributions and Loans, Other than QDROs

QDRO Mistake -- Plan Gave My Ex Too Much Money

"My ex husband requested a distribution from my pension, pursuant to a QDRO. But when my employer calculated his lump sum, they calculated it for 29 years of my employment. The QDRO that we signed said the calculation should have only been for 19 years (while we were married). So they gave my ex too much money. What is my recourse?"

2 replies   |    50 views   |    Add Reply

BG5150 created a topic in Plan Terminations

Terminated Money Purchase Plan Still Holds Funds for Missing Married Participants

"Money Purchase Plan terminated 3 years ago. Only accounts left are for lost participants and each has over $5,000. Recordkeeper will not cash the accounts out and move to an IRA because of the spousal consent issue. What can the sponsor do to get this plan closed up?"

3 replies   |    30 views   |    Add Reply

Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:

View job as 401k & Defined Contribution Plan Consultant

401k & Defined Contribution Plan Consultant  View details

Planned Retirement Administrators & Consultants, LLC
Telecommute / Ridgewood NJ

View job as Defined Benefit Plan Consultant

Defined Benefit Plan Consultant  View details

Planned Retirement Consultants & Administrators, LLC
Telecommute / Ridgewood NJ

View job as Relationship Manager

Relationship Manager  View details

Newport
Telecommute / CA

View job as Project Manager Benefits Communication

Project Manager Benefits Communication  View details

BeneCom Associates
Telecommute / Acton MA

View job as Implementation Specialist

Implementation Specialist  View details

Ubiquity Retirement + Savings
Telecommute / San Francisco CA

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