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Improper DB Plan to PSP transfer of assets, and 411(d)(6) amendment?


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Guest ERISAcatNraleigh
Posted

In 1984 the DB Plan transferred to the PSP assets with respect to some participants, but not all. The affected participants were actively employed and not eligible for distribution under the DB Plan. DB plan was terminated in 1989.

The PSP permitted pre-retirement in-service distributions. In 1996 the PSP was amended to provide that these in-service distributions will no longer be available with respect to amounts attributable to the assets transferred from the DB Plan.

Any ideas on corrections for the transfer and/or the 1996 plan amendment?

Thanks.

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