Bucklaw20

This would involve active participants who have not yet reached NRA. My understanding is they would like to offer active participants the opportunity to receive a lump sum, and if they do, they will no longer accrue benefits. For those who don't take the lump sum, they would still accrue benefits. The plan is partially frozen, so only the compensation element of the benefit formula can continue to grow.

Can a DB plan be amended to permit in-service lump sum distributions and also cease future accruals for any person who elects to take a lump sum?

Is anyone aware of a list of approved VCP corrections? A co-worker recalled seeing a list (over ten years ago...) complied by someone which laid out a bunch of approved correction methods. I have not been able to find such a list, and I'm not sure how someone would even have access to this info to create such a thing. Thanks!