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Here are the most recently added topics on the BenefitsLink Message Boards:
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ftam created a topic in 401(k) Plans
"What type of calculations do you normally use for RMD calculations for Cash Balance and/or Defined Benefit Plans? I am aware that one option is a lump sum option in which a calculated monthly benefit from last year's valuation report x 12 months = current year RMD. Just wondering what has worked for you and if the method you use helps reduce the amount of taxes paid for the affected participant taking the RMD."
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Molgilny89 created a topic in 401(k) Plans
"Plan participant’s account is hacked by an outside fraudster. Participant sues plan sponsor for negligence. The two parties end up settling before trial. Can the plan sponsor deposit the settlement amount into the participant’s plan account? I seem to remember some IRS guidance saying it’s allowed if it is the result of a dispute that would have resulted in fiduciary breach. Does anyone have a cite?"
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Bobloblaw created a topic in 401(k) Plans
"The plan document allows for 2 outstanding loans. A participant was inadvertently allowed a 3rd loan (disregard loan dollar amounts). New EPCRS guidance says you can self-correct by adopting a retroactive amendment. What does this mean practically? This was just an isolated incident and we don’t want participants going forward to be able to have 3 outstanding loans, so should we avoid the amendment correction? Can you
retroactively amend and then immediately amend it back to 2 loans? Is there a simpler fix?"
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metsfan026 created a topic in 401(k) Plans
"Are there any special rules in terms of hardship distributions and the impact of a hurricane? The participant is looking to use the money to fix her car, due to damage from a hurricane. However, by the letter of the law, this wouldn't qualify as a hardship. Before we just rejected the request, I wanted to be sure there wasn't a special exception out there."
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Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:
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Loren D. Stark Company
Remote
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Ameritas
Remote
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Ameritas
Remote / Lincoln NE
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The Standard
Remote / OR
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