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Showing content with the highest reputation on 03/25/2013 in all forums
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The use of the word "may" rather than "must" strongly implies that it is optional.1 point
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Forfeitures for Plan Expenses
austin3515 reacted to GMK for a topic
IMHO, your OP is about the use of forfeitures, and it requires that if there are unpaid plan expenses, forfeitures must be used to pay those plan expenses first, before you can allocate any forfeiture amount to participants' accounts.1 point -
Forfeitures for Plan Expenses
12AX7 reacted to austin3515 for a topic
They had the same interpretation (I submitted to Corbel and here at the same time). I too though was left longing for that sentence in the Basic Plan Document that made this clear-cut. Their interpretation seemed to be focusesd on the fact that forfeitures could/should be used towards unpaid expenses. Because the recordkeeping was paid when charged/incurred, you did not have to use forfeitures first.1 point
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