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BenefitsLink®
Message Boards Digest
August 21, 2023
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Here are the most recently added topics on the BenefitsLink® Message Boards:
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pensionam created a topic in Distributions and Loans, Other than QDROs
"I have a plan sponsor who would like to allow a loan for a NHCE participant who has fallen on hard times but is young and doesn't qualify for a 'safe harbor' hardship. He would like to amend his plan to allow loans and then has asked how quickly he can amend to no longer allow it. Is there a general rule of thumb for this?"
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thepensionmaven created a topic in Retirement Plans in General
"We recently took over a safe harbor 401(k)/profit sharing plan, new comparability, grp 1 officers and owners grp 2 all other eligible employees. There are 4 participants: owner (100%), spouse, adult son over 21 and one common law employee. The plan had passed 401(4) only because the son had not been treated as an HCE. Under IRC Section 318, am I off base here, or is not the adult son an HCE as well?"
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ahasanul created a topic in Form 5500
"Terminating Plan: 01/01/2022 to 10/17/2022 When is the due date for filing Form 5558 Extension?"
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Jakyasar created a topic in Defined Benefit Plans, Including Cash Balance
"Assume all calculations are for 2022. 73 year old has a prior db distribution, let's say $15,000/month after all actuarial calculations, done many many moons ago. The new salary average for 2022 is $24,444.44/month -- 100% of compensation limit (385k+290k+305k averaged) 415 dollar limit is $30,000 -- made it up. What is his 415 maximum AB? [1] $24,444.44/month less $15,000/month i.e. $9,444.44? OR [2] $30,000/month
less $15,000/month i.e. $15,000/month? If it is [1] then the 415 LS would be $9,444.44 * APR @ 2022 417e table @73 @5.5% (assume plan AE assumptions provide much higher LS)? What am I missing here to determine max 415 AB and LS?"
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Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:
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IUOE Local 478 Employee Benefit Funds
Hamden CT
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Preferred Pension Solutions, LLC
Wichita KS / Hybrid
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BenefitsLink.com, Inc.
(407) 644-4146
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Lois Baker, J.D., President
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