PS

Thank you 🙂

Is there any document that I can refer since my client is looking for some kind of reference material on this.

That's what I thought, thanks for confirming.

Hi, The plan year end in 12/31 however since the plan terminated in June it will be a short plan year, so will the client still need to do the True-up? I believe YES please confirm. Thanks

Yes, the communication and forms will be sent. but if they don't respond can it be rolled over to an IRA account?

Hi, One of the terminating plan there are few participants with balance in the MPP source, this was from the pervious plan. The plan has elected for optional, so if a participants does not take action can the plan sponsor direct to have the funds rolled over to an IRA account for the ones who have balance in the MPP source? or should it be an Annuity? Thanks

Thank you! They intent to change only the company name and not the plan name. Yes, I was a little concerned about 5500.

Hi, One of the terminating plan has been advised by their counsel to have company name changed as of the effective term date. Will this require an amendment? since they want the 5500 and all filing to be done with the new company name hence wanted to check if a plan amendment is required. Thanks

Yes, I agree and I'm aware Millennium Trust does accept but here the the direction is to rollover to Schwab and I believe they set up two IRA's. Thank you!

Hi, One of the terminating plans has after-tax and funds of all non-responsive participants is to be rolled over to an IRA account. Since few part's have funds in after-tax, I believe the after-tax money will needs to be put into ROTH IRA and the earnings into Traditional IRA?

Thank you!

Hi, Have a terminating plan and I don't believe the plan went through an amendment regarding the UNITED STATES v. WINDSOR Act, now that the plan is terminating will it require an amendment. Thanks

So I believe a 5500 is required?

Thank you! Since we have crossed the extended period I believe participants will not be permitted to take the CARES Distribution?

Hi, When a 403(b) plan is terminating is there an exception they need not do 5500? example if the plan was set up in 2005 and has only 1 participant will a 5500 be required once the plan goes to zero? Thanks

Hi, Can participants still take CARES distribution? I thought June 2021 was last. Thanks

Thank you!

Thank you!

My apology! Plan Sponsor ( PS)

I mean send SMM.

Defined Contribution. I generally come across PS asking if a Plan amendment is required since the plan is terminating.

Hi, When a plan is terminating, should there be an amendment to terminate the plan? or will a BOD resolution suffice? Thanks

Hi, Should the PS send in the SMM once the plan has terminated, when should they send it? Thanks

Thank you! that helps.

They have been using the funds to pay invoice, so there is no misses. Since there is a balance of $78000 in the forfeiture and the plan document only states they can use it to reduce PS Cont and fee which they will do, post which the forfeiture will still have balance and I'm wondering if they can have it re-allocated as well if so will an amendment be required?