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- Once eligible always eligible rule - 401 (k) Plans - BenefitsLink . . .
Is there any code reference for this "rule" besides break in service and rule of parity? For example, if a participant is eligible for a plan and later becomes part of excludable class – can the participant be forced to stop deferrals? Thanks in advance
- can one become ineligible once eligible in 403 (b)?
See "Once In, Always In - Q2" (about 36 minutes in, and be selected directly from indexing list) Once eligible to defer, the future actual hours worked are never taken into account again for deferrals, but can be excluded from employer contributions It also doesn't seem to trigger all less than 20 hour employees to become eligible
- Form 5500EZ, assets dip below $250,000 - Form 5500 - BenefitsLink . . .
Makes me nervous to not file Do people skip a year if the plan's assets don't exceed $250,000? Or is it recommended you recommend to the client to keep filing? OR by chance, is an EZ plan required to keep filing once a form was filed (even if assets are less than $250,000 now)?
- Payback Loan After Default - after 1099R issued
Employee stopped working for the company, therefore defaulted on the loan took out for primary home purchase Loan is considered 'Deemed Distribution', 1099R is issued, and time has passed over a year Employee called saying tax for the previous year has not yet been filed, although 1099R has bee
- DOL Guidance on Pension Benefit Statements
The Department of Labor (DOL) has issued Field Assistance Bulletin 2006-03 (December 20, 2006) to provide guidance on the new requirements for defined benefit and defined contribution plans to furnish participants and beneficiaries with regular pension benefit statements
- Excluded Class Employee works 1000 hours - What next?
Once you determined they have the 1,000 hours in the 12 months what is the plan's entry dates? If it is the 1 1, 7 1 following the person doesn't enter the plan until 1 1 2023 and wouldn't get a 2022 contribution
- Annual Service Requirement for Mandatory Employee Contributions?
Does the “once in, always in” concept applicable to eligibility for elective deferrals also apply to eligibility for employer contributions, and if so, what is the legal authority requiring such treatment? By way of background, we have a client that is a school (the “School”) that sponsors a 403(
- Placing a hold on participants account - BenefitsLink Message Boards
First time poster here I am curious if anyone knows where to find any information about best practices for QDRO procedures related to placing hold on the participant's account Specifically, how long should a participant's account be frozen once the administrator receives notice that a QDRO is f
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