plan termination

[Guest lskin]

Is there a specific timeframe a plan sponsor should notify employees of plan termination before actually terminating the plan?

[WDIK]

If my memory serves me correctly, there is no requirement that participants receive advanced notice of the termination of a 401(k) plan (although it seems like from a employee relations standpoint a plan sponsor would be better off providing notice of its intentions), nor is there a requirement to notify IRS or DOL.

That being said, if a request for a determination letter upon plan termination is being requested from the IRS, the various notices and time periods would apply.

[Guest kencarroll]

If there is a provision for automatic rollover IRA's for participants who do not elect to receive a distribution or provide directions for a rollover, than I believe the IRS requires a 30 day notification prior to an automatic rollover....

[Guest ElizabethMae]

seems a good idea to give the 60 day notice of termination to employers and a 30 day notice to employees of options available, also the mailing of the smm-sumary of material modification--would prolly need to be sent as you would be amending the document to cease mandatory employer etc contributions...