AlbanyConsultant Posted October 2, 2015 Posted October 2, 2015 Hi. The plan sponsor has both a 403(b) and a profit sharing plan. To reduce admin costs, we want to consolidate to one plan, so we are terminating the profit sharing plan and implementing an employer contribution in the 403(b) plan (it was already an ERISA plan, so no big deal). The plan sponsor is concerned that not everyone will return their distribution forms. Normally, we include a form that notes that participants who don't return their form will be sent to a rollover IRA custodian. But in this case, can we force the rollover to the new plan? Or, even better, can we bifurcate the instructions to say that if you are a terminated participant, it will go to a rollover IRA custodian and if you are an active participant it will go to the new 403(b) plan? Thanks.
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