Belgarath Posted January 12, 2018 Report Share Posted January 12, 2018 Any reason DC plan that didn't allow partial distributions at termination date (12/31/2017) can't be amended to allow them now? Final distributions won't be available for quite some time, and they want participants to be able to receive some money currently. I think it is fine, but I seem to recall some post-termination amendment issues with DB plans particularly. Thanks. Link to comment Share on other sites More sharing options...
Bird Posted January 12, 2018 Report Share Posted January 12, 2018 OK by me Ed Snyder Link to comment Share on other sites More sharing options...
BG5150 Posted January 12, 2018 Report Share Posted January 12, 2018 4 hours ago, Belgarath said: Final distributions won't be available for quite some time, and they want participants to be able to receive some money currently. Could someone take a 99.9% partial withdrawal? 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...
Larry Starr Posted January 12, 2018 Report Share Posted January 12, 2018 There is nothing that prevents a partial distribution of the termination payout with the balance to be paid later. It is not an in-service withdrawal, it's a termination distribution. Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC President Qualified Plan Consultants, Inc. 46 Daggett Drive West Springfield, MA 01089 413-736-2066 larrystarr@qpc-inc.com Link to comment Share on other sites More sharing options...
ESOP Guy Posted January 15, 2018 Report Share Posted January 15, 2018 On 1/12/2018 at 1:04 PM, BG5150 said: Could someone take a 99.9% partial withdrawal? In most plans that do this the trustee determines the percentage of the payout. This allows the people to get some of their money while the plan gets the D Letter and other final actions happen. It keeps the people happy while the plan can do what it needs to do to make sure all is good. hr for me 1 Link to comment Share on other sites More sharing options...
Bird Posted January 15, 2018 Report Share Posted January 15, 2018 10 hours ago, ESOP Guy said: It keeps the people happy In theory anyway; some self-appointed expert might whine about it... Ed Snyder Link to comment Share on other sites More sharing options...
RatherBeGolfing Posted January 15, 2018 Report Share Posted January 15, 2018 1 hour ago, Bird said: In theory anyway; some self-appointed expert might whine about it... "They let me do it in my old plan, therefore I must be allowed to do it in this plan" - old participant proverb YogaTPA, Bird and hr for me 3 Link to comment Share on other sites More sharing options...
Belgarath Posted January 16, 2018 Author Report Share Posted January 16, 2018 Thanks all. Link to comment Share on other sites More sharing options...
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