PainPA

We just took over a plan from Lincoln and the assets were transferred to another vendor. The plan sponsor is still using the Lincoln document until later when we restate. I have everything on the document including amendments, AA, SMM, SPD.... but I do not have a letter of determination. The plan is a standard match plan using Lincolns document. An employee has left employment and the financial vendor he/she is rolling to wants a copy of the LOD. I said to the finanical vendor that the document is a prototype and did not file for its own determination and is just working off that documents LOD which will not contain the plan sponsors name or address. The LOD is generic to all who use this. Does anyone have a copy of the LOD face page that can be sent to me? 50237590001-003 Prototype Standardized Cash or Deferred Arrangement

Does a plan sponsor need to carry an ERISA Fidelity Bond when they have more than 1 plan (401k and a DB plan)? Could the bond have both plans names and all parties involved?

We have always treated our 401k plans that have hardship withdrawals and loans in the following manner.... If the plan allows loans, you must take the loan first before utilizing a hardship. We have seen different web sites that say that if the loan payment is going to cause an additional hardship, that the participant can then go directly to the hardship route. Any legal trusth to this?

The details surrounding this plan is that I can tell it was once a Money Purchase from some of the old documents. However, the current one in place is a Profit Sharing, which hardships are allowed. The client knows from industry conferences that all their counterparts have a Money Purchase. I was going to make the necessary adjustments to make this happen but they do not want to give up the hardship withdrawals.

I have none, I was referencing an outline on benifitsattorney.com and saw that this was a modified version. I was just hoping that it was allowed for gov't plan sponsors and not for corporate.

Additionally it is great not file a Shedule A becuase the competition cannot see this on FreeERISA or Larkspur.

If that Nationwide product sold is from the Nationwide Life Insurance Co it would then produce a Schedule A. These are usually individual products and are called the Nationwide ADVISOR. For a Nationwide product sold from teh Nationwide Trust Co, FSB, this will not produce a Schedule A. The product name for this is RESOURCE. The INNOVATOR will also fall under this category. We only deal with Resource and Innovator and do not file a Schedule A.

Can a Governmental Money Purchase Plan allow hardships? I was thinking that the Title I exemptions for gov't plan allowed for them.

Is there a regulation on the term a 401k loan can be taken for a primary residence? I thought it was always 15 years...