AlbanyConsultant Posted September 12, 2016 Share Posted September 12, 2016 I've got a 403(b) plan that wants to leave the current fund platform, but there is a decent back-end charge that would hit the accounts. The plan sponsor would like to cover the fee, but the fund company will not bill the plan sponsor; they will only debit the accounts. Is there any legal mechanism for the plan sponsor to 'reimburse' each account for the amount that was taken as fees? This is a plan with no HCEs, so there's not a nondiscrimination problem to worry about... Link to comment Share on other sites More sharing options...
Kevin C Posted September 12, 2016 Share Posted September 12, 2016 With no HCE's, a new comp PS allocation of the desired amounts should work unless the allocations make some of them hit the 415 limit. If they hit 415, you might be able to spread the amounts over two years of PS contributions. You don't say if the 403(b) is ERISA covered. Adding an employer contribution would make it subject to ERISA if it isn't currently covered and isn't a church plan. Link to comment Share on other sites More sharing options...
QDROphile Posted September 14, 2016 Share Posted September 14, 2016 But what about participants who are former employees? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now