Guest BonnieG Posted April 21, 2006 Posted April 21, 2006 Plan sponsor business closed but owner wants to keep plan in existance. No new contributions to the plan. Is this allowed?
GBurns Posted April 21, 2006 Posted April 21, 2006 Why? What would be the purpose? I would think that this owner should be the sole remaining participant. If that is correct, Wouldn't he/she be better off rolling the money to an IRA? George D. Burns Cost Reduction Strategies Burns and Associates, Inc www.costreductionstrategies.com(under construction) www.employeebenefitsstrategies.com(under construction)
david rigby Posted April 21, 2006 Posted April 21, 2006 Not necessarily. Some of the relevant prior discussions: http://benefitslink.com/boards/index.php?showtopic=32041 http://benefitslink.com/boards/index.php?showtopic=31945 You can search for more. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
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