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BenefitsLink® Message Boards Digest
October 25, 2024
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Here are the most recently added topics on the BenefitsLink® Message Boards
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Clint Franklin created a topic in Health Savings Accounts (HSAs)
"An Employer has an HSA plan and contributes to the HSA, however, an employee was declined an account by the financial institution. What options does the employer have with their money they would contribute?"
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MrsMacias created a topic in Retirement Plans in General
"We are administering a PEP plan and one of the members wants to terminate. From our understanding, since only the plan sponsor has the authority to terminate a 401(k) plan and in PEPs the sponsor is the PPP, in order to terminate, the member must spin off their plan from the PEP and then terminate that plan. However, our PPP is insisting that this is not needed and that they can terminate this individual adopting employer without a
spin-off. We are having a hard time finding actual guidance on this. Who is correct?"
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Dougsbpc created a topic in Defined Benefit Plans, Including Cash Balance
"We administer a small traditional defined benefit plan that covers the company owner and his spouse. He is now of the age that he needs to take an RMD. I know there are many different ways to make the RMD as low as possible but in this case he is not looking for that. Suppose he wants to take the RMD calculated as an annual annuity and take his first RMD on 11/15/2024 (He could wait until 4/1/2025 but does not want to). Suppose the
pre and post interest rate in the document is 5%. Furthermore, his monthly accrued benefit is $15,000. [1] Is it acceptable to calculate the annual RMD as follows? $15,000 X 12.05 = $180,750? [2] Suppose he takes his first RMD on 11/15/2024. Suppose they terminate the plan 3/1/2025 and all assets are distributed 5/15/2025. Since one year from 11/15/2024 would be 11/15/2025, must he take an RMD when all assets are paid from the plan
on 5/15/2025?"
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pwitt created a topic in Litigation and Claims
"In the instance of 'civil' litigation between two parties regarding an ERISA covered benefit plan, can the defendant in such a suit, that involves an allegation of material misrepresentation (fraud), have the case removed to Federal Court based upon wording contained within the ERISA Statute itself?"
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Dobber created a topic in 401(k) Plans
"What is/was the deadline for a sole proprietor/Schedule C to make 2023 Roth salary deferral contributions and employer contributions (profit sharing) to a previously established (in 2022) Solo 401(k)?"
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