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Here are the most recently added topics on the BenefitsLink Message Boards:
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Alan Simpson created a topic in 401(k) Plans
"Have two attorneys that each own 100% of their own s-corps. Those two attorneys each own 50% of an accounting firm of which they do not perform any legal work or share mutual client. Is this a ASG?"
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[Sponsored]
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HCE created a topic in Qualified Domestic Relations Orders (QDROs)
"We've been asked whether we can process a QDRO provided to us after the death of the AP. Our QDRO procedure does not address this scenario. Can we?"
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Jakyasar created a topic in Defined Benefit Plans, Including Cash Balance
"I want to check others' experience on time frame and expectations for getting a PBGC coverage determination. Applied for determination on PBGC coverage beginning of March 2022 for a financial company. Was contacted for additional information multiple times during March and provided everything they asked for. Last communication was on 3/31/2022. Haven't heard from PBGC by mid-April so I've followed up multiple times.
The responses I have been getting are: 'We are working on the request for an opinion letter for the proposed plan. I do not have an estimated date that a letter will be issued.' 'We still don't have an estimated date for issuance of an opinion letter. We'll let you know when we do.' That one was last week. Anyone had a recent experience? Client is anxious because this is for 2021."
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Tom created a topic in 401(k) Plans
"A plan sponsor was sold 100% to an ESOP for its employees. So the plan sponsor is now the ESOP. I'm told there are no corporate officers but I am checking with their CPA firm. The ESOP has a Board of Directors who are also plan participants. I'd think of them as officers. But if none of them has a wage over the key employee limit, then it seems there are no key employees. I think I read at one time there has to be a minimum
number of officers, or at least one. All I can find now is there is a defined maximum number but I don't see anything about minimum number."
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MeetMeInTheBackdoorRoth created a topic in 401(k) Plans
"I haven't found anything concrete on the IRS web site that shows how one proceeds with freezing a plan in the case of a merger, only that it's an option. Does freezing it require an amendment to the plan, or will a notice to current participants suffice (similar to a black-out period)?"
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ERISAGal created a topic in Mergers and Acquisitions
"When an asset sale occurs between two entities both having 401k plans and the seller's plan terminates, what happens to the outstanding loans in the seller's plan? Because it is being terminated rather than merged, is there any way to 'transfer' the outstanding loans to the buyer's plan in order to avoid the loans being defaulted and taxed to the participant? I know it will depend on the plan documents of
both plans, but wondering if the plan's could be amended to allow for the transfers of the outstanding loans."
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Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:
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Retirement Solutions Specialists, LLC
Remote / Jacksonville FL
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MGKS
Remote / Phoenix AZ
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Definiti LLC
Remote
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Definiti LLC
Remote
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ERISA Services, Inc.
Knoxville TN
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ERISA Services, Inc.
Knoxville TN
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Leading Retirement Solutions LLC
Remote / Seattle WA
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UNITE HERE HEALTH
Aurora IL
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CT Office of the State Comptroller
Remote / Hartford CT
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Lois Baker, J.D., President
David Rhett Baker, J.D., Editor and Publisher
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