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Message Boards Digest

November 24, 2021

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

K-t-F created a topic in Retirement Plans in General

Worthless Assets.... can they be donated?

"I have this older client who has a single member business (a civil engineer consultant). He want's to retire. Unfortunately, he got hooked up with a guy who sold him 2 lots in an RV park. Both lots are basically worthless now, he can't sell them. I've never heard of a pension plan donating assets. He's ready and willing to walk away if that is what it takes to liquidate his plan once and for all. - Can the plan donate the RV lots? - Does he have to take the RV lots as a distribution in "kind", and then donate them? Any thoughts on what the best course to take might be?"
2 replies so far   |    Click Here to Add a Reply

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

Employee Requests Payment, Rehired Befored Distribution; Required to Take Distribution?

"Participant terminates and submits full distribution paperwork. Prior to distribution check being written, he is rehired. Is there any reason the check still needs to be written?"

1 reply so far   |    Click Here to Add a Reply

JOH created a topic in 401(k) Plans

General Resource

"Just putting this out there, does anyone have a resource that provides a good comparison or mid-level information for various plans. Like 401(k), 403(b), 403(b)(9), 457 plans, 457(f) plans, etc. Thanks"
1 reply so far   |    Click Here to Add a Reply

Plan Doc created a topic in Employee Stock Ownership Plans (ESOPs)

ESOP Sponsor Acquiring Property from Related Employer

"An ESOP sponsor is controlled by husband and wife, who are direct shareholders in the sponsor and are also the ESOP's trustees. Is there a prohibited transaction or fiduciary breach if the ESOP sponsor leases or purchases property from a company that is in a controlled group with the ESOP sponsor? The ESOP is not a party to the lease or purchase transaction, but it seems there is opportunity for abuse, for example, if the ESOP sponsor pays more than fair market value to lease or purchase the property. The value of the plan sponsor is thereby diminished, to the detriment of ESOP participants, while the controlled group member is unjustly enriched. Would an independent valuation of the leasehold interest or of the property offer protection against any prohibited transaction or fiduciary breach concerns?"
1 reply so far   |    Click Here to Add a Reply

metsfan026 created a topic in 401(k) Plans

QDIA Notice Template

"Is there an updated template for the QDIA notices? I can't seem to find one for some reason. Thanks everyone!!"
1 reply 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 Plan Administrator/ Consulting

Plan Administrator/ Consulting  View details

Associated Pension Consultants
Chico CA / Sacramento CA

View job as Senior Retirement Specialist

Senior Retirement Specialist  View details

Alerus
Remote

View job as Implementation Specialist

Implementation Specialist  View details

One of the Best TPA Firms in the US
Remote / Oklahoma City OK

View job as Counsel - Retirement Plans

Counsel - Retirement Plans  View details

Nationwide Insurance
Remote / Columbus OH

View job as Senior Actuarial Analyst

Senior Actuarial Analyst  View details

Definiti
Remote / Louisville KY

View job as Manager, Defined Contribution Administration

Manager, Defined Contribution Administration  View details

Definiti
Remote / Louisville KY

View job as Retirement Operations Specialist

Retirement Operations Specialist  View details

Alerus
Remote / MN

View job as DB DC Compliance Analyst

DB DC Compliance Analyst  View details

RAE Consulting
Horsham PA

View job as 401(k) Compliance Documents Manager

401(k) Compliance Documents Manager  View details

Human Interest
Remote / Denver CO

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