chris Posted June 5, 1999 Share Posted June 5, 1999 MPPP has 1,000 hours and last day of plan year requirement. E/er required contribution is 10% of compensation. E/er is going to amend MPPP to freeze contributions and change contribution percentage for current plan year to 0% of compensation. Does anyone see any problems with this? ------------------ Link to comment Share on other sites More sharing options...
Guest wolfpack Posted June 8, 1999 Share Posted June 8, 1999 At first blush I cannot see any problem with this since the participants have not accrued a benefit for the current year. Link to comment Share on other sites More sharing options...
david shipp Posted June 8, 1999 Share Posted June 8, 1999 Be sure to issue timely 204(h) notice Link to comment Share on other sites More sharing options...
Kirk Maldonado Posted June 8, 1999 Share Posted June 8, 1999 There are a number of private letter rulings holding that this does not violate Section 411(d)(6), provided that the amendment is adopted prior to the last day of the year. Kirk Maldonado Link to comment Share on other sites More sharing options...
Dave Baker Posted June 8, 1999 Share Posted June 8, 1999 What would be a timely 204(h) notice here? December 16 or before? Link to comment Share on other sites More sharing options...
chris Posted June 8, 1999 Author Share Posted June 8, 1999 Plan Year End is September 30. 204(h) notice ( and amendment to freeze) to be distributed (and executed) prior to mid- September. ------------------ Link to comment Share on other sites More sharing options...
david shipp Posted June 9, 1999 Share Posted June 9, 1999 Remember that section 204(h) requires a somewhat tortured sequence of events. Notice must be provided AFTER adoption of the amendment and not less that 15 days BEFORE the effective date of the amendment. (The amendment must have a prospective effective date.) Link to comment Share on other sites More sharing options...
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