VS or Prototype

[R. Butler]

We currently sponsor a Corbel prototype. Beginning with the PPA restatement we are considering scrapping the prototype & sponsoring the Corbel VS instead. Does the prototype offer any advantage over the VS that might cause us pause? Just want to make sure that we are not missing anything.

Thanks in advance for any guidance.

[Guest Sieve]

I see no advantage of a prototype over a VS. More flexibility, more availability with VS -- e.g., individual groups with cross-testing, multiple employer plan availability to name a few. I'd move to VS, prototype style (looks like prototype, with adoption agreement).

[Lou S.]

We are in the same boat and are dropping the prototype for VS

[kmciver]

We are in the same boat and are dropping the prototype for VS

Can our firm do a "sponsor" amendment with the VS? We are trying to make the same decisions right now.

[Sully]

Yes, the sponsor can amend the plan on behalf of all adopting employers. No different than a regular prototype document.

[Jim Chad]

We dropped the prototype for EGTRRA and have not seen one time when we wanted it.