Message Boards Digest

January 10, 2022

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

Mark Miller created a topic in 401(k) Plans

Selling My TPA Business

"We're looking to sell our TPA business and wondering if anyone had a recommendation of a business broker that handles TPA firms, or know of a bulletin board that lists businesses for sale."

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MFouz created a topic in 401(k) Plans

Need Reasonably Priced TPA for Solo 401K

"Can someone refer me to a reasonably priced TPA to do annual administration (including 5500 form) for a Solo 401K plan? I'm getting quoted prices that are for traditional 401k plans. That makes no sense to me."

4 replies so far   |    Click Here to Add a Reply

Ahuntingus created a topic in 401(k) Plans

Family Aggregation; Parents Work for Children and Also Own Another Company

"I have a client that is thinking of starting a 401k plan. Two brothers own 100% of Company A; 50% each. The parents (of both brothers) work for the brothers, receive W-2 comp, own 0% of company B and want to make 401k contributions to the 401k plan of Company A. In addition, the parents jointly own 100% of Company B; 50% each and do NOT want to offer a 401k to the employees of company B. The two sons do not own any of company B and they do not work for Company B.

If the parents contribute to the sons' 401k plan as employees of company A and don't offer a plan to the employees of Company B, is that a problem?"

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Chaz created a topic in Health Plans (Including ACA, COBRA, HIPAA)

Surcharges for Unvaccinated and the Interaction of HIPAA and the ADA

"The EEOC and the DOL/IRS/HHS have provided helpful guidance for employers who wish to implement a vaccination incentive (or penalty for unvaccinated) for employees in the form of a health contribution surcharge.

The HIPAA regulators have confirmed that, under HIPAA, an employer must, among quite a few other things, offer an employee for whom it is medically inadvisable to receive a vaccine a 'reasonable alternative standard' so that such employee can avoid the surcharge. The employer can require that the employee provide documentation from his or her physician that receiving the vaccine is indeed medically inadvisable.

Separately, the EEOC has stated that that merely requesting proof of COVID-19 vaccination as a condition of employment is not a 'disability-related inquiry' under the ADA. But, if an employer is administering the vaccine directly or through an agent, certain pre-screening questions constitute a disability-related inquiry subject to the ADA, in which case the incentive or penalty cannot be 'coercive.' The EEOC has not stated how much, if any, incentive or penalty would or would not be coercive.

Assume an employer implements a surcharge program where neither it nor its agent is administering the vaccine; employees instead can obtain one through public outlets. The employer requires a note from the employee's physician if obtaining the vaccine would be medically inadvisable.

Wouldn't the requirement for the doctor's note be a 'disability-related inquiry' under the ADA and thus subject the amount of the surcharge to the undefined 'coercive' standard? Thanks for any thoughts!"

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

Rollover to an Inherited IRA

"DB participant died in 2020. Adult son is sole beneficiary. I am being told the son is eligible for lump sum distribution, and that an IRA rollover is an option.

Son wants to convert the lump sum to a Roth IRA. For example, the inherited lump sum value is $20k. He wants to roll over (convert) the $20k into an inherited Roth IRA. I know this is permitted in the DC world (non-spouse beneficiary can convert an inherited account to a Roth IRA). Does the same rule apply to DB plans?

Assuming a conversion is permitted, is the son now subject to the SECURE Act's 10-year payout rule?"

1 reply so far   |    Click Here to Add a Reply

cheersmate created a topic in Communication and Disclosure to Participants

Plan Admininstrator Required to Provide Copy of Plan Document Upon Request?

"Must the Plan Administrator provide a copy of the Plan Document (including Amendments) if a Participant (Active or Terminated) submits a written request for it? And if so, may they charge a reasonable amount for it?

I understand that the Plan Administrator must make the Plan Document and any Amendments available for inspection at the place of business, and that the Plan Administrator must provide copies upon written request of the most recent SPD+SMMs, 5500, and the Trust Agreement if requested.

Here the Participant (who has terminated employment) wants a copy of the Plan Document. The Participant has the most recent SPD/SMM. I believe the Plan Administrator may charge a 'reasonable' fee if the Participant should request an additional copy of the SPD/SMM (maximum $0.25 per page, as set forth in DOL Reg Sec 2520.104b-30)."

5 replies so far   |    Click Here to Add a Reply

Michele created a topic in Form 5500

IRS Sending Out Late 5500 Penalty for Plans That Have the Ida Extension

"Not sure whether others have had the IRS send their clients penalty notices for late filing under the IDA extension but my clients have received them even though their address is in a covered area. Of course the letter states to call the IRS, but trying to reach them by phone is impossible. Has anyone been successful in faxing a response to IRS?"

2 replies so far   |    Click Here to Add a Reply

jkharvey created a topic in Correction of Plan Defects

Is Anyone Seeing DOL Investigations After VFCP Letter Received (Late Deferrals)?

"We're seeing an increase in the number of VFCP letters received from the DOL as a result of 5500 reporting of late deferrals. Is anyone else seeing this increase? Are you seeing any further DOL activity (investigations) as a result of the letters? I read a message from fall of last year, but I'm wondering whether there are any updates."

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

Final RMD for Participant Who Died in 2021?

"What if participant who has been taking RMD for several years died in December 2021 and the 2021 RMD was not taken (by anyone) before the end of the year? We've been trying to find out whether the RMD was taken. The wife had told us he was ill but didn't notify us of his death until just now."

1 reply so far   |    Click Here to Add a Reply

Jakyasar created a topic in Retirement Plans in General

DB/DC Combined Plan Deduction Limit -- Non-PBGC DB Plan

"DB/DC combo, non-PBGC. $1M payroll, checking for 31% rule, i.e., $310k deduction total. If DB portion is $200k, can do $110k of DC, correct? Even though DC portion exceeds 6%, it does not exceed the 25% overall DC deduction limit. Anything I'm missing?"

1 reply so far   |    Click Here to Add a Reply

Florence created a topic in 401(k) Plans

Terminated Plan as of Dec. 31, 2021 But Some Checks Still Uncashed

"Have a small 401(k) Plan that terminated. Checks were issued to all participants in 2021. As of 12/31/2021, several people did not cash their checks, so assets remain in the plan. The trust therefore does have assets remaining as of 12/31/21. Can 2021 be the final Form 5500, or must do an additional 5500 for 2022?"

6 replies so far   |    Click Here to Add a Reply

Owen Meany created a topic in Investment Issues (Including Self-Directed)

Private Lending for Home Purchases on a Large Scale -- UBTI Concerns

"Newly transferred from the attorney side of things and don't have a strong grasp on the rule and regulation tendencies. I know a qualified plan can take advantage of private lending as an investment. And I understand that interest income is exempted from UBTI. However, in this case of plan lending to 3rd parties secured by first deeds of trust, while the form of the transaction does not generate UBTI, the volume of transactions will determine whether the plan is involved in an active trade or business. So assume that the volume of annual transactions does push the plan into operating a trade or business, it would follow that any such income earned, even though exempted interest, would be UBIT. Agree?"

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alexa created a topic in Communication and Disclosure to Participants

No Surprise Billing Notice and Meaning of 'Publicly Available'

"We have posted the new Surprise Billing Model Notice to the benefits section of our company intranet along with all of our other H&W compliance notices and recently provided a link to the notice to all U.S. employees. Would this satisfy the 'publicly available' requirement?"

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

View job as Retirement Operations Specialist

Retirement Operations Specialist  View details

Remote / MN

View job as 401k Plan Administrator

401k Plan Administrator  View details

Northeast Planning Services, Inc.
Remote / Waltham MA

View job as Health Insurance Specialist

Health Insurance Specialist  View details

Centers for Medicare & Medicaid Services [CMS]
Remote / Bethesda MD / Woodlawn MD

View job as Transaction Coordinator

Transaction Coordinator  View details

The Retirement Advantage, Inc. (TRA, Inc.)

View job as Administrative Assistant

Administrative Assistant  View details

E.H. Thomson & Co., Inc.
Sea Girt NJ

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