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Message Boards Digest

June 21, 2023

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

K-t-F created a topic in 401(k) Plans

100% Match Coupled with a Safe Harbor Match

"Client wants to match his employees deferrals dollar for dollar. He needs to entice people to work for him. In addition we need to build into this formula a SH match as well. Can this be done? Say 4% SH match + what.... 100% company match over 4%? Is it that easy?"

4 replies so far   |    Click Here to Add a Reply
[Sponsored]

"Long Term Part Time" Rules Clarified by ASC VP of Support

Sponsored by ASC
ASC Executive VP Support, Sheryl Stucky, CPC, QPA, APA, clarifies the topic of Long Term Part Time Rules. Here’s why clients love ASC Support: Retirement Plan Industry Professionals, Technology Experts, Fast, and Responsive! Read on.

Lucky32 created a topic in 401(k) Plans

Correction of Prior Year HCE Deferrals in Excess of 402(g) Limit

"We have just found 402(g) violations in a plan for both 2021 and 2022 and wanted to make sure their corrections are handled properly. The violation occurred to only one participant, the same HCE, for both years, in a 27-life plan (the excess now totals about $6,000). The violation can be self corrected within three years if it's considered significant, and even longer if it's insignificant -- no VCP application is needed. Is this accurate?"

4 replies so far   |    Click Here to Add a Reply

BG5150 created a topic in 403(b) Plans, Accounts or Annuities

Form 5330 for Late Refunds in 403(b) Plan?

"I know 403(b) Plans do not have to file a 5330 for late deposits of deferrals/loan payments. But does one need to be filed for late ACP refunds?"

No replies yet   |    Click Here to Add a Reply

JJP04262017 created a topic in Retirement Plans in General

SECURE 2.0 RMD Excise Tax

"Does anyone have a view on whether the reduction of the excise tax to 10% for a distribution made during the 'correction window' is retroactive? In other words, would an unpaid RMD for 2022 be subject to the 10% excise tax if the distribution is made during the 'correction window' or does the correction window apply only to RMDs beginning in 2023?"

1 reply so far   |    Click Here to Add a Reply

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