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Here are the most recently added topics on the BenefitsLink Message Boards:
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BG5150 created a topic in Qualified Domestic Relations Orders (QDROs)
"I got a DRO today for a participant in Louisiana. The DRO says there is no divorce and that in LA, a community property state, the DRO can be a mechanism by which a participant can "donate" to the spouse "of his undivided interest in a thing forming part of the community." Anybody ever come across anything like that? Everything else in the Order lines up nicely to form a QDRO."
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ratherbereading created a topic in 401(k) Plans
"Considering gross compensation for plan purposes is Box1 on the W2 + deferrals + section 125 + bonus + commission. What about spousal travel and group term life? Are those also included in gross compensation?"
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pensionreview created a topic in Communication and Disclosure to Participants
"A plan being restated for Post-PPA will update fees for individual participant expenses. This restated plan is effective on 1/1/2022. Since the SPD reflects the updated fees, is that sufficient to satisfy notice requirements for fee changes, or is it necessary to issue a notice notifying participants of this change to be effective 30 days after the notice is given?"
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Arnie401k created a topic in 401(k) Plans
"We're a small 401k platform (a startup) and we're looking to bring on a TPA to either act as a consultant, or to work with us on a per plan or monthly basis. I'm not exactly sure where to start looking, so any guidance would be appreciated! Thanks!"
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ERISA-Bubs created a topic in Nonqualified Deferred Compensation
"We have a group of employers that are somewhat related, but definitely not considered the same "Service Recipient" under the 409A Regs. But, they all have identical Nonqualified Plans. We would like to combine the plans into a single plan. We would take pains under the Plan to make sure the definition of "Employer" was a reference to the individual Employer the Service Provider works for, including that the Employer is responsible for
benefit payments out of their own general funds, and the Employer's creditors have access to those funds in the event of bankruptcy/insolvency, etc. Does this work? Some concerns I have are: - Say one Employer goes bankrupt and their creditors wipe them out so they can't pay benefits under the Plan -- is there any risk the other Employers are on the hook for benefit payments for the bankrupt employer?
- Say one Employer goes
bankrupt, would their creditors have any claim over accrued benefits owed to the Service Providers of other Employers under the Plan?
- Are there any other rules that would prevent a combined Plan just as a matter of statute or regulation?
Thanks in advance!"
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bzorc created a topic in Distributions and Loans, Other than QDROs
"A plan that we administer has 2 trustees and has a major mutual fund company as its recordkeeper. Both trustees have left the company (acrimoniously) for reasons that are not relevant here, but both of them have put in online requests for distributions from the plan. At this point, the company has not yet named new trustees, and the old trustees remain on the recordkeeper contract, and would be the ones responsible for "approving" the
withdrawals on the recordkeeper website. Trying to figure out whether, as the TPA, to approve the withdrawals, and let the now terminated trustees approve them. Would there be some legal recourse from the plan sponsor as to why we allowed these funds to be distributed, even though they cannot be assigned? Thanks for any replies."
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Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:
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Planned Retirement Consultant & Administrators, LLC
Remote / Ridgewood NJ
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Planned Retirement Consultants & Administrators, LLC
Remote / Ridgewood NJ
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Definiti LLC
Remote
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Lois Baker, J.D., President
David Rhett Baker, J.D., Editor and Publisher
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