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Message Boards Digest

August 6, 2021

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

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

Fully Accrued Benefits Causing Plan to Fail Section 401(a)(26)

"DB plan, covering husband and wife, both HCE and both key. Both way past NRA/NRD and in their 70s. Both are at 100% of pay and fully accrued in prior years. Low average salaries, in the $30k range. My software tells me that I am failing 401(a)(26). The actuary agrees. I tried to use accrued-to-date method but the software does not allow me to do so. I was told that for 401(a)(26) to use accrued to date, plan must satisfy 410(b). What am I missing/not seeing here?"

3 replies so far   |    Click Here to Add a Reply
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Kodi created a topic in Qualified Domestic Relations Orders (QDROs)

My Ex-Husband Won't Finalize My QDRO

"In my divorce, which was finalized on April 20, 2021, I was awarded 60% of my ex-husband's 401(k) plus additional money. I have filed with my QDRO attorney and all is ready. All he has to give the attorney is the amount of the 401(k) the day we got married and the amount the day our divorce was final. He refuses! My attorney that I had for my divorce is a JOKE-- she is doing NOTHING except sending emails to opposing counsel and then charging me $250, but with no results. I have asked to file contempt of court but she won't. I don’t know what to do! This was a domestic violence situation and I just want to get on with my life. I would file it myself but I cannot find a form to fill out to file. PLEASE HELP!"

2 replies so far   |    Click Here to Add a Reply

Ahuntingus created a topic in 401(k) Plans

Effect of After-Tax Contributions on ACP Test and New Comparability

"I've been getting a lot of inquiries from clients about after-tax contributions. Do after-tax contributions need to treated as comp to comp as part of the ACP test, or can you use new comp for the calculation? For example, owner is 60, makes $200k and puts $20k after tax. This is a 10% contribution. Employee is 30, makes $50,000 and puts in zero. The profit sharing contribution to employee is 10%(ish) or 3.5%(ish)? Thoughts?"

4 replies so far   |    Click Here to Add a Reply

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Sacramento CA

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Wespath Benefits and Investments
Glenview IL

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Wespath Benefits and Investments
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