Guest Celtics Posted December 20, 2013 Share Posted December 20, 2013 I have a calendar year safe harbor match plan. The client wants to terminate the plan as of 12/31/2013. Can they do that or must they issue a 30 day notice and terminate on the 30th day which means they would need to fund the safe harbor match for anyone who defers in January, 2014. Thanks. Link to comment Share on other sites More sharing options...
ETA Consulting LLC Posted December 21, 2013 Share Posted December 21, 2013 They can terminate since they are not doing it "during" the year. The issue you are referring to is for terminating the safe harbor "mid year". Good Luck! CPC, QPA, QKA, TGPC, ERPA Link to comment Share on other sites More sharing options...
emmetttrudy Posted December 23, 2013 Share Posted December 23, 2013 technically there is no notice requirement for terminating a 401k plan. they can terminate the plan 12/31/2013. Link to comment Share on other sites More sharing options...
Kevin C Posted December 27, 2013 Share Posted December 27, 2013 As ERISA mentions, depending on the circumstances, 30 days advanced notice may be required for mid-year terminations under 1.401(k)-3(e)(4). But, that only applies to a mid-year termination. You are not required to provide advanced notice for a termination at year end. Link to comment Share on other sites More sharing options...
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