PS Posted November 15, 2022 Share Posted November 15, 2022 Hi, One plan is moving to the "retail" and making the current RK as the custodian and not the record keeper. The accounts can be used to hold 401k assets on the "retail" side of where the plan is record kept. In order to open these types of accounts, the Plan Sponsors must sign a new Retail Adoption Agreement and a new Retail Service Agreement, in order to do this the plan must terminate. My confusion is "Will this be even considered as a Plan termination" as per my understanding Plan termination is a corporate action, participant have the right to choose they distribution option, they cannot simply be moved over to retail side. Can participants just be rolled over ( Active and Terminated) into the retail account? I've never encountered something like this. Thanks Link to comment Share on other sites More sharing options...
Bill Presson Posted November 15, 2022 Share Posted November 15, 2022 This doesn't make any sense. Luke Bailey 1 William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070 Link to comment Share on other sites More sharing options...
PS Posted November 15, 2022 Author Share Posted November 15, 2022 Just now, Bill Presson said: This doesn't make any sense. Agree! Link to comment Share on other sites More sharing options...
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