DB as replacement to Profit Sharing Plan

[Guest Gordy]

Client has an ongoing calander year Profit sharing plan. Monthly contributions have been deposited to the Profit Sharing account for 2004. Any way to set up a Defined Benefit plan in prior to 12/31/04, "transfer" the monies previously deposited to the profit sharing account and treat them as Defined Benfit contributions?

[Blinky the 3-eyed Fish]

Not legitimately.

[Guest Gordy]

Thanks, Blinky. That's what I thougth. I was hoping and ol' curler might have a magic rabbit in his hat.

[david rigby]

Not legitimately.

, assuming we are talking about ERISA plans.

[could be me maybe not]

Does the profit sharing plan have a last day requirement? If not, you could consider a Floor/Offset. Closest thing to a legitimate rabbit.

And Blinky's the resident Floor/Offset guru.