"403(b) plan has a Discretionary Match, allocated per payroll, no true-up. Match formula is dollar for dollar up to 5% of pay. Participant makes $700,000 per annum. 2024 Comp limit is $345,000. Should they stop the match when it gets to $17,250? (5% of $345k) Or stop when their compensation hits $345k? Or continue the match and we will use $345,000 as comp in the ACP test only? And there is a wrinkle: They changed the match starting August 1 to be only up to 2% What would the annual max be then? Would it be 3.75%? Or $12,075? That's (7/12)*.05 + (5/12)*.02 : 7 months of 5% and 5 months of 2% averaged. I know it's a lot here. Just trying to point them in the right direction if/when to stop. Keep in mind these are payroll matches, not annual."

"I have a client that would like to sell his company and is thinking that the significantly I-can-never-have-enough-liability-to-use-this-up overfunded DB plan his company sponsors might be a great selling point to a buyer who has an underfunded plan or a significant pending liability in its plan. The idea is that the buyer buys my client, they merge the two plans and voila! No more excess assets. Does anyone know anyone who brokers or matchmakes this kind of business proposition?"

"My understanding is the mid-year safe harbor change can't be done after August 31st (assuming 12/31 PYE) because of the SH notice requirement, given the 3 month requirement for the creation of the new SH plan. If the new 401(k) SH plan is a nonelective contribution, is a Safe Harbor notice still required?"

"Just general discussion re the reality of actual administration. Seems to me that if an employer chooses to offer this, requiring employee self-certification of the 5 required certification elements, annually, would be the way to go. Is there any particular advantage to going with the registering the loan with the employer, or registering with a third party service provider? I'm also wondering about the realities of what happens when the certification is incorrect, or the loan itself doesn't qualify as a QEL in spite of the certification. According to Q.E-4 of Notice 2024-63, if the certification turns out to be incorrect, the match does not need to be corrected. So does this really amount to a 'get out of jail free' for the employer, or are there other ramifications? The initial determination of whether there is even a Qualified Education Loan (QEL) in the first place can be fairly complex, and I'm not sold on the ability of most participants to accurately make this determination. And I sure as heck don't want to deal with it at the TPA level. Are you seeing a lot of demand for it? We've only had a few inquiries, but it is coming. Any discussion is welcomed."

"The General Instructions for Schedule MEP states 'All MEPs must complete Parts I and II to indicate the specific type of plan or arrangement....' Under Who Must File it states 'Schedule MEP (Form 5500) must be attached to a Form 5500 or Form 5500-SF filed for a pension plan that checks the 'multiple-employer plan' box on Part I of Form 5500 or Form 5500-SF....' My MEP experience is limited to closed MEP's so I'm looking for some clarity. Are participating employers in an open MEP required to file Schedule MEP with their 2023 Form 5500-SF's? The MEP administrator is saying no, because they have never checked the multiple-employer plan box on Part I of the Form 5500-SF."

"I have a client (small plan, 401(k)) for whom I have e-filed the 5500SF each year. They no longer use my services, and wish to file an amended 2022 Form 5500-SF. Can they: create EFAST filing credentials, then immediately file an amended 5500? I imagine the answer is "yes", but I am totally unfamiliar with that process, since I file all of my clients' 5500s myself. Thank you!"

"Do I have to file a 5500-SF for a plan that was effective 1/1/23 but not adopted until May 2024?"

"How does everyone else work with their clients to obtain ERISA bonds? Do you purchase and maintain the ERISA bond for your clients, do you have them reach out to their insurance agent? What's the best practice?"