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BenefitsLink
Message Boards Digest
February 17, 2022
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Here are the most recently added topics on the BenefitsLink Message Boards:
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Jakyasar created a topic in Retirement Plans in General
"Company is owned by dad and son 50/50. Company employs mom and daughter (son's sister). All above are HCEs for 2021. On March 1, 2022, dad sell his portion to son, so son becomes 100% owner. When does sister become a non-HCE?"
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SSRRS created a topic in Retirement Plans in General
"he late filing penalty for the 5500s used to be $25 per day. It seems that was increased to $250 per day. This seems quite high in relation to tax returns that, even if filed up to a month late, the penalty is a SMALL percent True, there is the DFVCP that caps the penalty at $750 but, if someone files a day or two late, the penalty is $500 -- is that correct?"
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Kudos26 created a topic in Cafeteria Plans
"Due to a coding error there were several benefit plans (e.g., voluntary life) that were coded as pre-tax but they should have been coded as after-tax. This happened for about 2-1/2 years. No life insurance proceeds have been paid there yet. Error was discovered and fixed going forward. Does anyone have experience with this and how to go about fixing the past errors?"
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Lou81 created a topic in Plan Terminations
"I have a plan that will be terminating, perhaps on 7/1/2022. All participants would become fully vested. What about any participants who are paid out during the first 6 months of 2022? Would they need to be fully vested, and therefore get a supplemental distribution? Or should I fully vest them now, knowing the plan will be terminating? Trying to avoid any issues."
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Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:
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Employee Benefits Security Administration [EBSA]
Remote / Boston MA
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ftwilliam.com/Wolters Kluwer
Remote
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401k Generation
Altamonte Springs FL
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National Benefit Services, LLC
Remote / West Jordan UT
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BenefitsLink.com, Inc.
56 Creeksong Road
Whittier NC 28789
(407) 644-4146
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Lois Baker, J.D., President
David Rhett Baker, J.D., Editor and Publisher
Holly Horton, Business Manager
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