Mike31

I apologize, but I do have a follow up question. Is there any way the employer could add the Retirement Age payment provision for existing accounts? Mike

XTitan, Thank you for you response! I was looking through the regs, but could not find this answer. I guess this is one of those things that are not in the regs but assumed by the industry. Or maybe my sleuthing abilities are not as sharp as they once were! Thanks again, Mike

Hello all, I have a quick and hopefully easy questions for you. Current 409A plan does not allow participant elections of time or form of payment. The plan specifies that payment will be made at the earlier of: Separation from service, Disability, Death, Change in control The employer now wants to add a Retirement Age of 65 (currently no Retirement Age is specified in the plan) and add Retirement Age as a payment event so that the new time of payment will be the earlier of: separation from service, disability, death, change in control, Retirement Age It is my understanding that this could be considered an acceleration of payments and is therefore not permitted for existing amounts already deferred. Can the plan be amended to add Retirement Age for future deferrals of compensation without violating 409A? Thank you in advance for your responses! Mike