Susan S. Posted October 23, 2014 Share Posted October 23, 2014 A 401(k) plan allows in-service distribution of deferrals, match, and PS accounts at age 59 1/2. Several participants have money that was transferred from the employer's terminated pension plan. The transferred assets are not eligible for in-service distributions. The PPA amendment specified that in-service distributions of transferred pension assets would not be allowed at age 62. The employer wants to amend to allow in-service distributions of the former pension accounts at age 62, leaving the other accounts as-is, eligible to be distributed at 59 1/2. Document is Sungard Corbel. How do I change the PPA amendment? Do I call it a revised amendment? Looking at the document checklist and language manual, even if I had originally coded for distributions at age 62, it doesn't look like this would have been mentioned anywhere except the PPA amendment. Do I need to amend any other section of the document, such as adding it to the "In-Service Distribution of Employer Contributions" section? Link to comment Share on other sites More sharing options...
John Feldt ERPA CPC QPA Posted October 27, 2014 Share Posted October 27, 2014 You can submit an incident to SunGard, I'm sure they will help you. Perhaps the "describe" line of the in-service section could have the age 62 restrictive language. It could say the age 62 restriction only applies to former pension accounts - I think that same language you place their will show up in the SPD unless you use a language override. Link to comment Share on other sites More sharing options...
BG5150 Posted October 28, 2014 Share Posted October 28, 2014 Can't you just do a garden variety amendment to allow it? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left. Link to comment Share on other sites More sharing options...
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