Message Boards Digest

July 8, 2021

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

ASFESQ created a topic in Distributions and Loans, Other than QDROs

Insurance Transfer

"Client wants to transfer a whole life policy on his life to a profit sharing plan in which he is a participant. There is a PTE which allows the transfer subject to certain requirements dealing with value. Assume that is not at issue and that the ownership of the policy can be either personal or corporate. Can he make it as an in kind contribution equal to the CSV? If the policy has no CSV, can it be transferred unilaterally? If it is transferred, do the transfer for value rules require that the portion of the Plan's death benefit attributable to the insurance policy be treated as income?"
1 reply so far   |    Click Here to Add a Reply

chc93 created a topic in Cross-Tested Plans

401(a)(4) testing using attained age or age nearest

"I don't recall much discussion on this. We have always used age nearest for 401(a)(4) testing. Any comments or thoughts on using either attained age or age nearest in 401(a)(4) testing? And for DB/DC combo testing, does different definitions of "age" matter (for example, DB is age nearest month, DC is age nearest or attained age), since testing is usually not a plan document provision. Thanks..."
2 replies so far   |    Click Here to Add a Reply

Dazednconfused created a topic in SEP, SARSEP and SIMPLE Plans

Remove SEP Contributions?

"SEP, owner was only participant, was funding 20% monthly based on her compensation for 2021. Now realizes the only employee is eligible as of 1/1/21. Owner has stopped contributions and now is considering removing her contributions instead of funding (with lost earnings) contributions to participant through the same period. Can contributions be removed because the owner changed their mind? I see corrections process for excess contributions but not sure this can be considered excess? If they can remove, I assume the same process for removing excess? Thanks for any help."
1 reply so far   |    Click Here to Add a Reply

Chippy created a topic in 401(k) Plans

Profit Sharing Contribution allocation

"Plan has a pro rata formula. 3 participants, 2 owners and one NHCE. 25% of plan compensation is 149,126.93. Company would like to make a 129,000 contribution. The 2 owners make around 266,000 each and their P/S contribution is capped at 57,000.00 Their deferrals are less than 6,500 so all are reclassified as catch up. Their contribution percentage comes to 21.39% and 21.41%. Can the remaining 15,000 be allocated to the participant, her contribution percentage would be 25.71%. I can't get the software to allocate it like this, not sure If i'm not remembering something that would prevent the company from contributing that much. The max the software will allocate is 25% to the NHCE."
2 replies so far   |    Click Here to Add a Reply

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

View job as Legal Counsel - RPS Operations Oversight

Legal Counsel - RPS Operations Oversight  View details

T.Rowe Price
Owings Mills MD

View job as 5500 & Trust Specialist I

5500 & Trust Specialist I  View details


View job as Enrolled Actuary

Enrolled Actuary  View details


View job as Team Lead - Defined Contribution & Defined Benefit Plans

Team Lead - Defined Contribution & Defined Benefit Plans  View details

Qualified Plan Administrators, Inc.
Telecommute / Greensboro NC

View job as Product Support Specialist

Product Support Specialist  View details / Wolters Kluwer

View job as Installation Coodinator

Installation Coodinator  View details

July Business Services
Telecommute / Waco TX

►View More Jobs

►Post a Job

►Get Instant Job Alerts, Inc.
56 Creeksong Road
Whittier NC 28789
(407) 644-4146

Lois Baker, J.D., President
David Rhett Baker, J.D., Editor and Publisher
Holly Horton, Business Manager

Copyright 2021, Inc. All materials contained in this mailing are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of, Inc., or in the case of third party materials, the owner of those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.

Links to web sites other than and are offered as a service to our readers; we were not involved in their production and are not responsible for their content.

Unsubscribe | Privacy Policy