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October 3, 2024

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

AlbanyConsultant created a topic in 401(k) Plans

Do Deferrals Refunded Due to Zero Net S/E Comp Trigger TH Minimum?

"Small plan is top heavy. This year, the net s/e income for each partner was zero (or a small negative)... and of course they already deposited their deferrals during the plan year. Of course deferrals have to be refunded. But what about TH? Does this kick in, and a what rate (since I can't calculate $5,000 divided by zero compensation)? Or do they get a pass because it's all being refunded? I remember threads here that discuss deferrals refunded for ADP refunds are still counted, but I think this is a little different."

2 replies so far   |    Click Here to Add a Reply

Pixie created a topic in 401(k) Plans

Adding Wife of Owner

"Wife of owner has worked but has not been on payroll. The plan requires 1000+ hours age 21, one year of entry. Is she eligible due to being the wife of owner or must she have been on payroll with the required service to actually enter the plan?"

3 replies so far   |    Click Here to Add a Reply

Keith Lowery created a topic in 401(k) Plans

QNEC and Maxed Deferrals

"401(k) plan where employer missed depositing deferrals for an employee. The missed employee deferrals totaled $30,500. A QNEC will be made to correct this plus a match and earnings. Can he continue to defer to the plan and receive a match since we are still in the same plan year?"

6 replies so far   |    Click Here to Add a Reply

Draper55 created a topic in 401(k) Plans

SCP-Exclusion Form Deferral Opportunity for HCE Under Safe Harbor Nonelective 401(k)

"Does the assumed 3% missed deferral apply to both HCEs and NHCEs in a 3% nonelective safe harbor 401(k) plan. I believe it does so that for the period of exclusion the HCE would get .5*3%=1.5% QNEC but of course not receive the 3% safe harbor contribution since not an NHCE."

No replies yet   |    Click Here to Add a Reply

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