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- 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
- 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
- Once-eligible, always-eligible rule and rehires reclassifications of . . .
Does the employee get to participate immediately under the "once-eligible, always eligible" rule? Situation 2 - Reclassification Full-time employee is eligible for the 403 (b) The employee changes from full-time to part time (expected fewer than 20 hrs week)
- 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
- Full Time to Part Time - 401 (k) Plans - BenefitsLink Message Boards
The first paragraph in WIFBR's follow-up is not dealing with allocation conditions; it is the fail-safe mechanism for ensuring that the service-based excluded class ends at the time prescribed by IRC 410 (a), i e , an employee forever ceases to be able to be a part-time employee (for purposes of the excluded class) once one year of service (for
- 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)?
- 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
- Changing from eligible to excluded class - BenefitsLink Message Boards
The plan excludes "seasonal" employees If an employee goes from working 1000 hours a year and being eligible to then working less than 1000 hours and becoming labeled "seasonal", do they then become ineligible to contribute? If so, upon what day are they considered ineligible? For example, the l
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