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Once upon a midnight dreary While I pondered weak and weary Would I get the plans, to go out the door? Quote the Raven “Nevermore” While I nodded nearly napping Suddenly there cane a tapping As of someone gently rapping Rapping at my chamber door It’s the IRS, whom I abhor. (they want more, ever more) I slave all day, it’s such a pain All these regs, oh my poor brain. A raise I deserve, and much, much more Quote the Raven “Nothing more” Because of pensions, I have no life No kids, no fun, nor even wife. Are these plans the reason, I have nothing more? Quote the Raven, “No, You are a bore” The pension laws, change every few years Brings most of us, to the point of tears Who made the changes, so we could put away more? Quote the Raven “It wasn’t Gore” The pay is bad, the hours long I often wonder, if I belong I have no money, I’m always poor Quote the Raven “Forevermore” I do my job, I do it well But all this work, is hell, hell, hell. The boss is shouting, at my chamber door Back to work, Do this, do that and much, much more.

My guess is that when the investment professional starts pointing the participant towards specific investments based on the risk tolerance profile, it moves from education to giving actual advice.

We had a similar situation. No MV adjustment option was available. There was only a handful of participants involved so we contacted them prior to the transfer and told them that their balances in the SV fund would be updated only quarterly and would not be reflected on their statements, and if this was unsatisfactory, it would be a good time to consider transferring out (which seemed to be allowed). Besides the fact that no one acted based on this information, there haven't been any complaints either.

We've done a few of these & we always use the transfer/spinoff method mentioned above if possible. The distribution/rollover dance is a recipe for unfinished rollovers & screwed up loans now, followed by 1099-R issues at year end. And you're right, the PEO is not going to be much help to you.

If you grant a hardship for $2k of medical bills, then grant another one 6 months later for the same $2k on the same medical bills, you have distributed $4k for a $2k need. Am I crazy? Maybe don't answer that...