Jump to content

discriminatory to remove access to an investment?


Recommended Posts

Short version: we took over a pooled profit sharing plan a few years back... all pooled except for a few participants with life insurance.  No one new has purchased policies (we've made the plan sponsor give each participant a form to sign off saying that they don't want to purchase a policy), and all those with policies have terminated and gotten paid out except the owner, so his is the only policy left.

Can the plan be amended to no longer allow life insurance going forward without causing a nondiscrimination issue?  Or are they doomed to be stuck in CYA-mode until the owner gives up his policy?  Thanks.

Link to comment
Share on other sites

  • 1 year later...

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 account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...