Message Boards Digest

February 9, 2022

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

Michele created a topic in Correction of Plan Defects

Profit Sharing Plan Used a Special Valuation Date of March 31 Due to Market Drop

"Looking at a possible takeover plan. It's a Profit Sharing Plan, no deferrals, comingled asset account. The plan always has been valued on December 31. The document reflects that. However, in early 2020 due to the major decrease in assets, the plan valuation was run on 3/31/2020, so that participant distributions would reflect the reduced assets rather than paying out the 12/31/2019 account balances. The prior service provider never ran the rest of the quarters for 2020 and instead ran the 12/31/2020 report for the period 4/1/2020 through 12/31/2020. The document was never amended to reflect the change to quarterly. This is the first time I have seen this situation. What are the implications for not valuing each of the quarters during 2020,  and the effect of going back to an annual method for the rest of 2020? What about the lack of amendment to quarterly?"

3 replies so far   |    Click Here to Add a Reply

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nancy created a topic in 401(k) Plans

Top Heavy Minimum Contribution for Partners

"I have a law firm that has approximately 25 partners. A few are more than 1% owners but their net earned income is below $150,000, so they're non-key. Is the law firm required to fund the top heavy minimum, or is that an obligation of the partner who is a non-key employee?"

6 replies so far   |    Click Here to Add a Reply

Dougsbpc created a topic in Retirement Plans in General

Is ESOP Stock in Participant's Account Counted in '5% Owner' Determination?

"A plan participant has 3% stock ownership in the company sponsoring the plan. If you add the stock he is entitled to under their ESOP, though, he would have just over 5%. Would stock ownership under an ESOP be considered in determining who is a greater than 5% owner for purposes of having to take an RMD?"

3 replies so far   |    Click Here to Add a Reply

Jim Chad created a topic in 401(k) Plans

Employee Left with Less Than 500 Hours -- Exclude from Cross Testing?

"A standardized prototype is deemed to pass and allows you to give nothing to an employee who terminated with less than 500 hours. I have a volume submitter document that has each person in their own group. Can I exclude this employee form testing?"

6 replies so far   |    Click Here to Add a Reply

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

Using a Future Interest Credit in Running the Minimum Participation and Non-Discrimination Tests

"I remember seeing something about future interest crediting rate assumptions for Actual ROR plans to help pass non-discrimination and minimum participation tests. Does anyone have any reference for this? I'm looking at something where the actual ROR was less than 1% so I am having difficulty with my rank and file passing minimum participation using that as my projected rate."

1 reply so far   |    Click Here to Add a Reply

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

RMD Calculation -- Use the Old Table or the New Table?

"Plan year ends September 30, 2021. Participant's DOB is 2/1/1940. What factor should I use? The old table (17.9 years) or the new table (19.3 years) to calculate the RMD? I'm using the value of the plan's assets as of 9/30/2021."

3 replies so far   |    Click Here to Add a Reply

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

View job as Benefits Advisor (English and/or Spanish) (Recent Graduates)

Benefits Advisor (English and/or Spanish) (Recent Graduates)  View details

Employee Benefits Security Administration [EBSA]
Remote / Chicago IL

View job as Retirement Plan Administrator

Retirement Plan Administrator  View details

Aldrich Retirement Solutions

View job as Retirement Plan Analyst

Retirement Plan Analyst  View details

Preferred Pension Planning Corporation
Remote / Bridgewater NJ

View job as Retirement Plan Administrator

Retirement Plan Administrator  View details

Gammon & Drueck CPAs PLLC
Remote / Mount Juliet TN

View job as Senior Pension Actuarial Consultant

Senior Pension Actuarial Consultant  View details

Nyhart, part of FuturePlan by Ascensus
Remote / Chicago IL

View job as Senior Actuary

Senior Actuary  View details

FuturePlan, by Ascensus

View job as Retirement Plan Administrator, Sr.

Retirement Plan Administrator, Sr.  View details

Incentive Benefits, Inc.
Pasadena CA

View job as Defined Benefits Administrator

Defined Benefits Administrator  View details

California Benefit Planners
Pasadena CA

View job as ESOP Administrator

ESOP Administrator  View details

Blue Ridge ESOP Associates

View job as Plan Consultant

Plan Consultant  View details

Remote / Syracuse NY

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