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Here are the most recently added topics on the BenefitsLink® Message Boards
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chinson22 created a topic in Form 5500
"Has anyone's client received a letter from the DOL for a missing 2022 Form 5500 filing? This is the second one of our client's that received a letter and we have ACK ID and the filing appears on the EFAST website."
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mydayjob created a topic in 457 Plans
"Client's current administrator is moving in a different direction (read: Plan too small) and Client needs a new plan administrator. Client does not want to use its 401(k) Plan administrator. unless last resort. Any suggestions for Administrator that will take a small plan??"
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PS created a topic in Plan Terminations
"When a 401k Plan terminates, the plan sponsor is bound to send Plan termination notice to participant, beneficiaries and retired etc. Should this notice be sent only via a certified mail or can they use digital platform like e-mail/online to send this notice instead of certified mail?"
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SCooper created a topic in Defined Benefit Plans, Including Cash Balance
"What future interest crediting rates would be considered reasonable assumptions for funding valuations for Market Based Cash Balance Plans? These plans are designed to reduce risks of underfunding but if the assets are aggressively invested and, depending on the method of determining a future return assumption, the assumed future interest crediting rate could be higher than the relief funding rates resulting in minimum required
contributions greater than the pay credits. Is anyone aware of any regs or approved methods for determining a reasonable future interest crediting rate that would not result in unreasonable underfunding results and minimums greater than actual pay credits? It seems applying a 6% cap on the projected ICR would be reasonable considering the new legislation in Secure 2.0 but this is still high. Curious if anyone ties the projected ICR to a
segment rate similar to how the future ICR would be determined at plan termination for market based rates? Goal is to avoid underfunding results when the plan sponsor is funding the annual pay credits and the plan has a more aggressive asset mix."
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BG5150 created a topic in 401(k) Plans
"Company inadvertently added a term date to a participants census at the r/k. Subsequently, the participant was forced out (twice). Neither of the checks were cashed and they will be re-deposited into her account. However, there was 20% withholding from one of the checks. How is this usually recouped? (This did not cross tax years)"
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Here are the most recently posted jobs on EmployeeBenefitsJobs.com,® a service of BenefitsLink®
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Lois Baker, J.D., President
David Rhett Baker, J.D., Editor and Publisher
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