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jack91
does anyone know how many years a keogh can be frozen for? obviously at some point it needs to be terminated or unfrozen but is there a maximum time period we are looking at? business has been earning profits and plan has been frozen for a few years.
AndyH
DB plan?
jack91
QUOTE (AndyH @ Nov 12 2009, 04:27 PM) *
DB plan?

defined contribution plan
AndyH
QUOTE (jack91 @ Nov 12 2009, 04:37 PM) *
QUOTE (AndyH @ Nov 12 2009, 04:27 PM) *
DB plan?

defined contribution plan


Profit sharing contributions must be "substantial and recurring" but if they aren't I think you merely have a vesting issue - partial termination. So i don't know of any required timeframe to terminate or activate.

Anybody disagree?
jack91
QUOTE (AndyH @ Nov 12 2009, 05:02 PM) *
QUOTE (jack91 @ Nov 12 2009, 04:37 PM) *
QUOTE (AndyH @ Nov 12 2009, 04:27 PM) *
DB plan?

defined contribution plan


Profit sharing contributions must be "substantial and recurring" but if they aren't I think you merely have a vesting issue - partial termination. So i don't know of any required timeframe to terminate or activate.

Anybody disagree?


Its a money purchase plan. Participants are vested. Can it stay frozen for five or six years? Employer is probably going to terminate at that point.
ICannotDiscloseMyIdentity
Money purchase plan - I'd say it can stay frozen indefinitely.
AndyH
Agree.

Why are we suddently getting all these DC questions in this forum? Must be the entertaining personalities.
david rigby
QUOTE (AndyH @ Nov 12 2009, 05:38 PM) *
Why are we suddently getting all these DC questions in this forum? Must be the entertaining personalities.

It's a MP plan, so technically.....

laugh.gif
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