Don't Forget Section 125 Cafeteria Plan Nondiscrimination Testing (NDT) Is Required

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Key NDT questions for Section 125 plans

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Wednesday Wisdom

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Don't Forget Section 125 Cafeteria Plan Nondiscrimination Testing (NDT) Is Required


Froggy Jumps Don't Forget Section 125 Cafeteria Plan Nondiscrimination Testing (NDT) Is RequiredVersión en línea Key NDT questions for Section 125 plans por Wednesday Wisdom 1 Who is required to conduct nondiscrimination testing for a Section 125 Cafeteria Plan? a Only large employers (> 50 employees) offering pre-tax benefits via a Section 125 Cafeteria Plan. b All employers offering pre-tax benefits via a Section 125 Cafeteria Plan. c Only non-governmental employers offering pre-tax benefits via a Section 125 Cafeteria Plan. 2 What is the primary purpose of nondiscrimination testing (NDT)? a To ensure highly compensated and key employees do not disproportionately benefit from the plan. b To ensure highly compensated and key employees receive extra benefits. c To make life more difficult for employers wanting to offer benefits. 3 How are Highly Compensated Employees (HCEs) generally defined for the purpose of Section 125 Cafeteria Plan NDT? a Employees with more than 10 years of service. b An employee falling within the top-paid group. c An employee earning below the IRS-set indexed threshold. 4 Which of the following is considered a "Key Employee" in the context of Section 125 Cafeteria Plan NDT? a An employee with a graduate degree. b A more than 5% shareholder. c Anyone who can correctly explain the Section 125 Nondiscrimination Testing regulations to employers. 5 What are the three key tests a cafeteria plan must satisfy for NDT compliance? a Eligibility Test, Contributions & Benefits (C&B) Test, and Key Employee Concentration Test. b Fairness Test, Usage Test, and Income Threshold Test. c Participation Test, Compensation Ratio Test, Benefits Allocation Match Test. 6 How many key nondiscrimination tests must a Section 125 Cafeteria Plan satisfy (unless a safe harbor applies)? a Three b Four c Five 7 What happens if a plan fails a nondiscrimination test? a All employees, regardless of compensation, lose their pre-tax benefits for the year. b HCEs or key employees will be taxed on their premiums. c The employer is required to pay a large penalty to the IRS. 8 When is NDT required to be performed? a As of the last day of the plan year. b At the beginning of the employer's fiscal year. c Quarterly, throughout the plan year. 9 What is the recommended best practice regarding the timing of nondiscrimination testing? a Wait until after the plan year ends to correct any issues. b Conduct it just once, right before the IRS requests documentation. c Test more than once during the plan year to identify and fix issues proactively.

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Don't Forget Section 125 Cafeteria Plan Nondiscrimination Testing (NDT) Is Required

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Don't Forget Section 125 Cafeteria Plan Nondiscrimination Testing (NDT) Is RequiredVersión en línea

por Wednesday Wisdom

Who is required to conduct nondiscrimination testing for a Section 125 Cafeteria Plan?

What is the primary purpose of nondiscrimination testing (NDT)?

How are Highly Compensated Employees (HCEs) generally defined for the purpose of Section 125 Cafeteria Plan NDT?

Which of the following is considered a "Key Employee" in the context of Section 125 Cafeteria Plan NDT?

What are the three key tests a cafeteria plan must satisfy for NDT compliance?

How many key nondiscrimination tests must a Section 125 Cafeteria Plan satisfy (unless a safe harbor applies)?

What happens if a plan fails a nondiscrimination test?

When is NDT required to be performed?

What is the recommended best practice regarding the timing of nondiscrimination testing?