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Message Boards Digest

May 27, 2022

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

401kology created a topic in 403(b) Plans, Accounts or Annuities

After a Merger, the Surviving Entity has Two 403(b) Plans and Two 401(k) Plans

"Both 403(b) plans are subject to ERISA. The wo 401(k) Plans will be merged. The 401(k) plans are Safe Harbor plans. It's my understanding that the 403(b) plans could be terminated and the employees would have a distributable event and that the distributions must be made within 12 months, and that they could roll over the assets to the 401(k) plan but are not required to do so. Is there anything that would prevent the termination of the 403(b) plans on 6/30/2022 with the covered employees becoming immediately eligible for the existing 401(k) plan on 7/1/2022? I know if these were 401(k) plans, the only option would be to merge the plans but because this is a 403(b) plan, it cannot be merged into the 401(k)."

1 reply so far   |    Click Here to Add a Reply

ERISA-Bubs created a topic in Nonqualified Deferred Compensation

Stock Appreciation Rights and 'Feature to Defer'

"I know part of the rule for SARs is that there not be a feature to further defer the compensation beyond exercise. So a couple scenarios:

[1] Assuming the SARs have an exercise feature, would it still be considered a feature to further defer if we allow participants to elect to defer payments of SARs under a NQDC Plan IF we require the participant to make the deferral election in the year before the SARs are granted?

[2] Assuming the SARs have no exercise feature (i.e. the SARs are paid out automatically as soon as vested) THEN would it be okay to defer the SARs under a NQDC Plan so long as we require the participant to make the deferral election in the year before the SARs are granted?"

No replies yet   |    Click Here to Add a Reply

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