restatement deadline

[K2retire]

I just had a conversation with someone at Vanguard who was so uninformed or so misinformed that now I'm questioning what I should already know.

The subject was Vanguard's prototype money purchase pension plan document. Vanguard mailings earlier this year indicated that they have decided not to sponsor an EGTRRA MPPP document and that all plans on their GUST document must either terminate or be restated to another provider's document. They are encouraging plan sponsors to create at 401(k) plan with them, but they are not allowing the MPP money to be rolled into those plans. The representative just told me that the IRS has not yet decided when the EGTRRA restatements are due for MPPPs.

Since I haven't worked on MPPPs for the past 4 years, perhaps I'm confused. I thought the deadline was 4-30-2010 for all DC prototypes. Have I missed something here?

[Mike Preston]

No.

[Peanut Butter Man]

I just had a conversation with someone at Vanguard who was so uninformed or so misinformed that now I'm questioning what I should already know.

The subject was Vanguard's prototype money purchase pension plan document. Vanguard mailings earlier this year indicated that they have decided not to sponsor an EGTRRA MPPP document and that all plans on their GUST document must either terminate or be restated to another provider's document. They are encouraging plan sponsors to create at 401(k) plan with them, but they are not allowing the MPP money to be rolled into those plans. The representative just told me that the IRS has not yet decided when the EGTRRA restatements are due for MPPPs.

Since I haven't worked on MPPPs for the past 4 years, perhaps I'm confused. I thought the deadline was 4-30-2010 for all DC prototypes. Have I missed something here?

The deadline for restating MPPPs for EGTRRA is April 30, 2010. We heard the same thing from Vanguard that they decided not to sponsor an EGTRRA MPPP, which means restating onto another provider's document or switching to a different type of plan, like a 401(k) plan.