Jake Wright

wanted to bring this back up. The above excerpt is from the FT Williams Plan doc prior to the POST PPA cycle 3 restatement. They changed it in the POST/cycle 3 and it is now silent on waiving allocation requirements specifically to get to a 5% gateway. I spoke to the FTW rep and they said that now since it is silent, you can use any permitted method under the regs to correct a failed gateway. Is anyone aware of any correction method other than doing an 11g amendment (or obviously just reducing HCE contribution to 9%)? It doesn't seem like simply waiving allocation requirements is an option any longer if the document no longer includes the language.

Sorry, I just need for my own edification, a definitive answer, as I can't seem to find on ERISAPedia... You can, according to regs, distribute a balance of >$5,000 to someone of NRA without consent. My example would be ex-partner in a law firm, with a balance of $2m+, in which case you could fully liquidate the positions and roll over to an IRA without consent assuming all regulatory requirements have been met? This seems like the definition of an administrative nightmare. Thoughts?