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Showing results for tags 'mandatory distribution'.
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Seeing as how 401(a)(31) is a statutory provision, does a Plan need a separate document provision electing to be able to use an automatic rollover, or is it available to any Plan the claims qualification under 401(a)? The DC LRM from 10/2017 includes a required provisional statement about automatic rollovers, that references the mandatory distribution section, but no adoption agreement provisions are noted as needing to be included. Also, the mandatory distribution section the LRM notes that should be included, is not addressed anywhere in the LRM. -
Our plan document allows us to set the threshold for automatic rollovers below $1,000. We are considering lowering the amount to reduce the number of cash-outs, which sometimes become unclaimed checks. Anyone else using a lower number? Results? Is there any number considered too low?