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I am assuming this question is related to your other questions about loans and plan mergers. Not sure if this helps or not but if the new company simply doesn't want to offer new loans I believe you can amend their plan to allow the existing loans into the plan and nothing else about loans changes. So it can be drafted such that no new loans are offered, you can't refinance the merged loans and so forth. The existing group of loans are simply grandfathered into the new plan. Once this set of loans is gone there are no more loans. Would that make the new company more open to allowing this set of loans into the new plan? I am just trying to figure out why so much resistance to allowing this group of loans into the new company's plan I guess.

I would go back and double check the promissory notes also. Back when I worked 401(k) and ESOPs some of the 401(k) TPAs I worked for wrote the promissory note such that if the note was not paid back via payroll deduction the note was immediately due. It was not a plan term that was an issue. However, a promissory note is a contract and to pay the note any way other then via payroll deduction was a breach of contract. (edits to fix a few unclear sentences)

"Some" is a fluid standard. By that, I mean my level of benevolence and tolerance is directly proportional to the number of fluid ounces of The Macallan that I have lovingly sipped. Since my intake is drastically limited by the expense, my sympathy is limited to "some."

In a case that we had a few years ago, the bankruptcy trustee, appointed by the court, paid all necessary fees related to the plan. I think the backruptcy process got all company assets so he had funds to pay such fees. However, if I recall, there were "timing" issues with bankruptcy filing, our service period, and our invoice "date". So one invoice for services prior to the bankruptcy filing ended up as a "creditor in line" which we didn't get paid. But all of the plan termination fees, including our fees and I think the auditors fees were paid by the bankruptcy trustee. All 5500's with audit reports were filed timely.

A participant mistakenly made 1 additional loan repayment on her participant loan to her directed account. We will have the plan distribute the extra payment to her along with applicable account earnings for the period the additional payment remained in her account. Does anyone see a problem with this? Thanks