Leaderboard

Those fees come off the top. If the account is $170 are you going to send him a 1099-R for $170 when he received nothing? I hope not.

lrm94 was replaced by a later lrm. (see the last few pages of the enclosed for cross tested language) unless you are using "fly-by-night prototype" I would be shocked that language limiting the number of allocation groups is in any PPA document, though I suppose it is possible, and if such language was actually checked then you would have to follow it and then be smart enough to find a different document. but there is certainly nothing that says "oh by the way, even if you check each person is in his own group in the new ppa document, you have to also follow the old LRM which says you are limited to the number of groups you can create via this method" lrm.pdf

I would recommend not starting with a lawyer they are going to cost you a lot and it isn't clear at this point they will be able to do much for you. The loan rules are very strict and they really don't care whose fault it is if you loan goes into default what happens happens. Here are the steps I would take: 1) I would have your husband talk to someone in management that has responsibility over the plan inside the company he works for. If they decide it was their fault and they have an obligation to do right by your husband they can take a number of actions to get this corrected. If this happens you might like the result and you haven't spend a bunch of money. If the company is willing to spend some money on lawyers to fix this (at their cost not yours) there MIGHT be a complete fix of the whole problem. 2) If that seems to not be working out for you and then I would go to the Dept of Labor (DOL). They have Benefits Advisors that can help you by contacting the company. They do not look favorably on loan payments not being deposited timely. The point isn't to get the company in trouble to get things resolved. It is the government so it isn't the fastest process in the world but it doesn't cost you anything. I believe this is the correct link. https://www.askebsa.dol.gov/WebIntake/Home.aspx 3) Only after this would I go to the expense of a lawyer. It would be an ERISA lawyer you would need. By the way I am with Nate X the way you describe the facts is confusing so before you get a lawyer you might want to make sure you have the facts correct. Good luck feel free to come back here if you need more advice there are plenty of retirement experts here. Also, wouldn't mind an update if you ever resolve this.

I agree with Bri. Good Luck!

This is balderdash. Totally inconsistent with having each group satisfy 410(b).