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Showing content with the highest reputation on 02/18/2015 in Posts
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Freezing 0% Money Purchase Plan
ETA Consulting LLC reacted to Lou S. for a topic
Why do they still have the plan? Why not terminate it or merge it with their PS/401(k)? Assuming they have another DC plan. Amendment would have to be prospective.1 point -
If the transferring plan is silent on the issue, then I would say that such a transfer is not permissible. Take a look at 1.457-10(b)(5) - one of the requirements is that the transferor plan must provide for the transfer.1 point
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Both the sending and receiving plans should have terms for transfers. If the sending plan does not have terms for a transfer, how can you tell that departing funds are not a distribution, which is the only thing the plan describes that fits with departing funds?1 point
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