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BenefitsLink® Message Boards Digest

July 22, 2024

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

RatherBeGolfing created a topic in 401(k) Plans

PYE for Participating Employer Different from PEP PYE

"I'm looking at a PEP with a 12/31 PYE, but the document for one participating employer has a 6/30 PYE. Looks like the plan joined the PEP in October of 2023, so the PEP will be testing and reporting using the 12/31 PYE, but this plan is really a 6/30 PYE. I think its obvious that the document needs an amendment to align with the PEPs 12/31 PYE, but how would you address the 12/31 PEP testing and reporting, as well as the 6/30 PYE in the participating plan document?"

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Carol V. Calhoun created a topic in Retirement Plans in General

Parent Adopting on Behalf of a Subsidiary

"We have two companies, A and B. A is the parent, but has no employees. B is the subsidiary that actually has employees. In the interest of time, we'd like to have A adopt a 401(k) plan that would cover B's employees, rather than having B sign a separate participation agreement. Does anyone have any authority as to whether this works?"

2 replies so far   |    Click Here to Add a Reply

Dougsbpc created a topic in Retirement Plans in General

404(a)(5) and 408(b)(2) Disclosures

"A client has a profit sharing plan with pooled investments. Just one brokerage account and all participants share in earnings / losses of the pool on the plan anniversary date. We believe 404(a)(5) disclosures do not need to be provided to participants because they cannot direct investments. We believe it would be the same with 408(b)(2). Participants can pay administration fees from plan assets for participant loans. For example, participants who want loans need to pay us $75 for loan processing. However, we have never gotten close to collecting $1,000 annually from loan fees. However, this last year they paid our annual administration fee from the plan and it was more than $1,000. Would this mean we now need to provide 408(b)(2) disclosures to the plan sponsor this year because of the administration fees paid from the plan?"

1 reply so far   |    Click Here to Add a Reply

AbsolutelyOkayPossibly created a topic in Retirement Plans in General

Any News on the Updated EPCRS?

"Has anyone caught wind of when the IRS might release an updated EPCRS aside from the absolute last day they are charged with releasing it from SECURE 2.0? Asking for a friend."

1 reply so far   |    Click Here to Add a Reply

Patrick401k created a topic in 401(k) Plans

Investment of 401(k) Loan Repayment

"My question relates to a participant's reallocation of principal/ interest from the loan. Will a participants biweekly payroll deduction for the loan, automatically be allocated back into the same (TDF) on an amortized level across the 5 year period of the loan? Both principal and Interest? Clarity to form 5500, plan sponsor Interest Rate withholding of loans?"

3 replies so far   |    Click Here to Add a Reply

Here are the most recently posted jobs on EmployeeBenefitsJobs.com,® a service of BenefitsLink®

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RPCG, a Strongpoint Partner
Remote / Wethersfield CT / Hybrid

View job as Retirement Plan Administrator for RPCG, a Strongpoint Partner
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Pension Team Manager  View details

KB Pension Services
Remote / Bradenton FL / Hybrid

View job as Pension Team Manager for KB Pension Services
View job as Employee Benefits Attorney

Employee Benefits Attorney  View details

Hill Ward Henderson
Tampa FL

View job as Employee Benefits Attorney for Hill Ward Henderson
View job as 403(b) Account Manager

403(b) Account Manager  View details

Pentegra
Remote / Putnam Valley NY

View job as 403(b) Account Manager for Pentegra
View job as Benefits Specialist, Compliance

Benefits Specialist, Compliance  View details

Southern California United Food & Commercial Workers Unions & Food Employers Joint Benefit Funds Administration, LLC
Cypress CA

View job as Health & Wellness Analyst

Health & Wellness Analyst  View details

U.S. Retirement & Benefits Partners
Rochester NY / Hybrid

View job as Health & Wellness Analyst for U.S. Retirement & Benefits Partners
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