Forfeiture allocations

[Guest djm]

What are the consequences an Employer may face if forfeitures are not allocated according to the terms elected in the Adoption Agreement? What are the responsibilities of the trustee to ensure that forfeitures are utilized accordingly?

Thanks in advance for the help!

[ljr]

Generally, you go back in time and allocate them properly. There are some prior threads on this topic.

It's probably the duty of the Plan Administrator who's usually the employer. Check the document and see what it says about who is responsible and also check to see if that duty has been delegated to the trustee, a third party administrator, or ????

You also want to know exactly how much there is in forfeitures for each year.