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wsp

plan document contains wrong formula

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Guest Gregory

Blinky must be a plan trustee. It's the only reason you'd think your not at risk because you won't (or can't) read and you'll sign anything.

If the plan sponsor did not sign the amendment, it's not valid even if the plan trustee did.

WSP...if the plan sponsor is not the trustee, you simply don't have a plan amendment if only the trustee signed. Consult with a lawyer who knows contract law. If Blinky is your plan trustee, I'll take the case pro bono.

Look at it this way, if the plan trustee signed an amendment doubling the company's contribution rate, vesting everyone 100% and lowered eligibility to 1 hour of service, would your client honor it. Heck no!!! So why is this any different?

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