Rollovers for Non-REsponders - Plan Term

[austin3515]

Someone once posted on here a blurb from their plan termination resolution that "Amends" the plan to allow for rollovers for non-responders in the event of plan termination. I tried to find this through the search engines but had no luck. Can anyone post this language or find the post?

[rcline46]

Just being a non-responder does not necessarily trigger the ability for an automatic rollover. You have to be sure the address used is correct, and if so, your communication must specify (including the rollover holder) what will happen if they do not respond in a 'reasonable' time frame.

If not sure of their address, need to use some documented method of trying to locate them. (IRS locator, private locator).

If a DC plan without annuities, I think 411(a)(11) provides what you want without amendment.

[austin3515]

I don't see where 411a11 helps?

Also the one I'm referring to had a whole byuch of language about "after a search in accordance with DOL FAB _____, they are unable to be located, an IRA will be opened in the participants name..."

[Guest cbclark]

We amended a plan to make sure that the lost participant language (for plan termination purposes) included all the language about following the DOL steps to declare "lost' and implement the automatic rollover to an IRA. Maybe a search under lost participants rather than rolloevers might net you the language?

[masteff]

Possibly post #4 here? http://benefitslink.com/boards/index.php?s...2;2004-02\

[austin3515]

Dat's it!!!!!

THANKS!!!