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Message Boards Digest

April 28, 2022

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

BG5150 created a topic in Retirement Plans in General

Participant's Waiver of PS Due to Cap on Assets for Purposes of Qualifying for SSI Benefits?

"I thought some people discussed this a while ago. But can a plan allow for people to waive their PS (and SH) contributions due to the resource limit for SSI disability benefits?"

No replies yet   |    Click Here to Add a Reply

KEC79 created a topic in 401(k) Plans

Late Hardship Regulations Amendment - SCP?

"Individually designed plan failed to adopt the required hardship withdrawal amendment by 12/31/21. Assuming it has a favorable letter, this error seems to be available for self-correction under EPCRS. Anything I am missing? It seems too easy."

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Roxie99 created a topic in Correction of Plan Defects

Is Self-Correction of an Operational Failure OK After Plan Termination?

"Can we self-correct an operational failure in a terminated plan, or is correction of such failure only available by going to the IRS via VCP per Section 4.07 of Rev. Proc. 2021-30? Section 4.07 doesn't say SCP is prohibited (unlike, for example, Section 4.08 which says SCP is not available to correct failures in orphaned plans)."

1 reply so far   |    Click Here to Add a Reply

AmyETPA created a topic in 401(k) Plans

ADP/ACP Testing Compensation

"New 401k plan. Effective Date of plan is 1/1/21, adopted in Aug 2021 so deferrals began in August. Is it permissible to calculate the ADR using the full year wages?"
1 reply so far   |    Click Here to Add a Reply

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