Leaderboard

This is an easy one and Bill has given you the track to run on. You tell them what to do; that's why they came to you. If they don't take your advice, they are NOT your client and you say thank, but no thanks. It is just that simple.

You're right . . . I think we either get them to commit to bringing their document into compliance or send them on their way.

Assuming the issues with the loans are ok (i.e. there is no reason to think they have defaulted), and you seem to indicate they are indeed ok, then it boils down to how to get the loans and the money "transferred" into a new plan. In my opinion, that would require a plan merger (I don't know what "transfer" would mean otherwise). So that would mean establishing a new plan and then merging the old into the new. That is safest, in my opinion, as far as continuing the loans. But here's a not-so-stray thought: why not just have the new company become the adopting employer for the existing plan? I don't see any reason not to do it and it saves a lot of trouble. The old company may not exist (or it may) but I don't think anyone will question the owner signing a consent to let the new company become the adopting employer.

The worst part is that SSA will probably still screw up and send out a "you may have some $$$" letter for each plan....

Start with that same old questions: what does your plan document say?