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Message Boards Digest

February 11, 2022

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

TPApril created a topic in 401(k) Plans

Fixed Fee Deductions -- Can It Be Discriminatory?

"401(k) Plan has no HCE or Key participants.

Plan allocates TPA fees among all participants in equal amounts.

So those with large accounts will have less than 1% taken out, but a new participant will have 20% taken out.

This doesn't feel right but I am looking for an argument to give the plan sponsor and wasn't sure if there was some kind of discrimination issue.

The one who makes this decision is getting less than 1%. Maybe it's simply that that is not 'reasonable'."

2 replies so far   |    Click Here to Add a Reply

steve45 created a topic in 401(k) Plans

Entry Date on Plan Effective Date

"Plan Effective Date: 10/01/2019 (age & service-waiver who employed on or before effective date)

Mr. B's hire date 05/04/2019 and terminated on 09/21/2019; rehire on 07/19/2020

What will be the Mr B's entry date? Is he eligible to get entry on rehire date or service count will start from Rehire date?"

4 replies so far   |    Click Here to Add a Reply

BG5150 created a topic in Retirement Plans in General

Partner Has Negative K-1 and a W-2 -- Combine?

"Company is LLC, taxed as a partnership. A partner was issued a W-2 for $150,000 from which she deferred $20,000. The partner's K-1 shows a loss. Do I combine them for plan purposes?"

3 replies so far   |    Click Here to Add a Reply

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