TinaW

We have a plan that amended their plan to stop safe harbor on 1/1/2025 (signed 10/10/2024) but did not distribute the SMM until 12/20. The safe harbor notice was not distributed. The regs indicated that the 30 days notice is for plans that are amending DURING the plan year, which this plan is not doing a mid-year amendment. The SMM requirement is 210 days notice. Participants are allow to change their deferral election every pay period and they are moving to a fixed match formula that is allocated at the plan year-end. Has anyone else found specifics on the notice requirement for a beginning of plan year amendment to remove safe harbor?

I have a plan that was audit level in 2021. They are current at 101 participants. Two participants terminated in 2021 has a zero balance on 1/1/2022, but received lost earnings within the year. Datair is counting them in the 2022 beginning participant count. Since they didn't have a beginning balance, should they considered a participant for the Form 5500 count?

We are currently on Datair and looking at other options. We are looking at Ft Williams (given we use their document & 5500 system), ASC, and possibly Relius (but unlikely given costs). One concern is the processing of huge plans. Currently, we have issues with Datair stalling during busy season when someone is importing or calculating a huge plan. We do not want to relive this. We also would like a program that provides some reconciliation options between the accrued balance on the software and vendor ending balance by participants. Do you have any of these retirement software companies and can you provide pros & cons?