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Message Boards Digest

October 18, 2021

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

Nate X created a topic in Defined Benefit Plans, Including Cash Balance

Filing without a Signed SB

"Does anyone have experience filing Form 5500 without a signed SB? Could you let me know what happen in your situation (i.e., penalties paid, Form rejected/accepted)?"

No replies yet   |    Click Here to Add a Reply

alexa created a topic in Cafeteria Plans

Employee (Under Age 26) on Parents' Plan May Want to Add Medical Coverage Earlier Than Open Enrollment

"An employee came to me, indicating her parents are going through open enrollment effective for changes 11/1/2021. Our employee (under age 26) is under her parents' plan currently. Her parents are considering dropping her because she can get medical though us. Our open enrollment starts in November, effective 1/1/2022. Can we allow her to add medical due to losing coverage under her parents' plan effective 11/1/2021? She will not be be 26 until next September. I believe the answer is Yes due to being a QLE. I know COVID had muddied the waters a bit during 2020 and for health FSA extended relief again for 2021 regarding QLEs. We did adopt these enhancements due to COVID for both 2020 and 2021. Your input/comments would be appreciated."

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Fquinones81 created a topic in 401(k) Plans

401(k) Plan at My Former Employer Wants to Offset My $12k Loan Against My Account Balance

"I was recently laid off from a company. I had an outstanding loan balance against my 401k. The 401k was originally 2 different 401ks that my company merged together. I took out the loan before the merger. The loan amount was around $16,000 and all from account A. Account B had no loan against it and was worth about $11k at the time of the 401k merger into account C. Now, when I got account C it started off by saying I had a vested amount of $11k and an outstanding loan of $16k. Over the next year, as I paid back the loan, the loan balance the vested balance shifted. Loan balance got smaller. Between contributions and earnings, my vested balance increased. Now the company is telling me that my vested balance, which it has listed as $18k, needs to be offset by the $12k I owe. That doesn't sound right because all the loan repayments, earnings, and other money that were not involved with the original loan had accumulated to the $18k. Somewhere on the site I saw a spot that said total account balance was $30k. Am I confused? Or are they trying to yank me?"

3 replies so far   |    Click Here to Add a Reply

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

View job as Senior Retirement Analyst

Senior Retirement Analyst  View details

Dunbar, Bender & Zapf, Inc.
Remote / Pittsburgh PA

View job as Sr. Actuarial Analyst

Sr. Actuarial Analyst  View details

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Chicago IL / Dallas TX

View job as 401k & Defined Contribution Plan Consultant

401k & Defined Contribution Plan Consultant  View details

Planned Retirement Consultant & Administrators, LLC
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View job as Defined Benefit Plan Consultant

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Planned Retirement Consultants & Administrators, LLC
Remote / Ridgewood NJ

View job as Relationship Manager

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The Retirement Plan Company (TRPC)/an ABG firm
Remote / Pacific WA

View job as Senior Plan Administrator

Senior Plan Administrator  View details

PCS Retirement, LLC
Remote

View job as Senior Plan Document & Compliance Specialist

Senior Plan Document & Compliance Specialist  View details

PCS Retirement, LLC
Remote

View job as DC Plan Administrator

DC Plan Administrator  View details

Northeast Professional Planning Group Inc. (nppg)
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View job as Plan Document Specialist

Plan Document Specialist  View details

Northeast Professional Planning Group Inc. (nppg)
Shrewsbury NJ

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