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Message Boards Digest

November 2, 2022

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

Dalai Pookah created a topic in Retirement Plans in General

HCE Family Aggregation Under Reg. 1.410(b)-8(B)

"This regulation, published in 1991, purports to have us consider HCEs together with those who are HCEs by attribution considered as a single HCE for purposes of 410(b). The regulation refers to Section 414(q)(6). Section 414(q)(6) at that time was removed from the Code in 1995. The regulation was not updated. We have a plan with and HCE and his two children, who are also employees, but do not benefit. For 410(b) purposes must we consider them as one HCE or can we consider 1/3 HCEs as benefiting?"

3 replies so far   |    Click Here to Add a Reply
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Dougsbpc created a topic in Defined Benefit Plans, Including Cash Balance

Post Age 65 Retirement 415 Limit

"We always thought post age 65 retirement 415 limit is based on the following: The lesser of: A) Maximum Average Compensation X all YOS (up to 10 Years) as of valuation date / 10 Years. Or B) Maximum dollar limit (age 62 - 65) X YOP as of valuation date (up to 10 Years) / 10 Years X dollar limit adjustment factor. The dollar limit adjustment factor can make the limit high especially if the participant is older. However, the APR for someone who is that much older will be low and besides, the comp limit under A will keep the limit in check. Have been told B needs to be capped / replaced with A but instead of all YOS as of the valuation date / 10, YOP as of valuation date / 10."
4 replies so far   |    Click Here to Add a Reply

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