Leaderboard

In theory, yes. Realistically, you won't end up with a different provider for each participant. I have plans that will consider the participants choice, but the PA will still make the call on whether the provider is acceptable. Those plans run between 40-100 participants and at most 10 different providers (which is still a PITA) I will also note that while I work with plans like this I do not recommend them. The are expensive, labor intensive, and full of potential issues. It is NOT an easy out for a sponsor who does not want to be troubled with 404a-5, duty to monitor, etc. If anything, the duties and responsibilities increase exponentially.

I don't think there is a typical time period. The main thing that determines the length of the blackout is how much, if any, the old firm cooperates with the transition. We've had some where we received data files within a day or two after the funds arrived and they were out of the market less than a week. We've had others where we didn't get a data file until 1 or 2 weeks after the funds arrived and the data file was garbage. Those were out of the market closer to 3-4 weeks. Every one is different.

If somebody is held out of a plan for a period of time that exceeds what would have been called for by a 1 year wait, they must be 100% vested.

Dog gone it. Now I've got a Captain and Tennille song rattling around my head (lot of empty space there) where the lyric hides Toni singing "Sedaka's baaaaccckkkk...."

Yes.

There is no prohibition against non-CYE 401(k)s. Can be a bit of pain in the applying the catch-up rules. but nothing wrong with them at all. We do a few but CYE 401(k) plans are generally a bit less complicated.

We have an extensive online listing of upcoming webcasts and conferences: https://benefitslink.com/cgi-bin/events/index.cgi Maybe I should have the sponsors indicate whether the event provides CE credit!