Prototype - Was 401k, now PS Only

[austin3515]

We use Corbel PT 401k Plan. Have a plan that WAS 401k, but now wants to be PS only. My dillema is that for things like hardship and in-service, the PS Prototype doesn't give me the options regarding 401(k), etc.; it assumes the Plan has ALWAYS been PS only. So I don;t think it will work.

So what am I to do? Should I use the 401k document still, but just not check the box that says 401(k) contributions will be allowed and "blank" the whole 401k section?

I think that is what I need to do, but looking for suggestions.

[Bird]

Yes. I've used a 401(k) document for profit sharing only for various reasons.

[Kevin C]

If unchecking the deferrals allowed box prevents you from entering some of the provisions you need for existing accounts, you may be able to make it work by allowing deferrals / match, but limiting them to zero. I had to do that once when a client wanted to remove match provisions, but I still needed to be able to list the match vesting schedule for the old $.

[John Feldt ERPA CPC QPA]

Have you tried submitting the question to SunGard to see what their document wizards can conjure up for you?

[austin3515]

I am awaiting their response

[austin3515]

Sungard suggests using the 401k prototype w/ a 0% limit on 401k. They also recommended editing the SPD manually to make it not ridiculous.