DTH Posted November 25, 2015 Posted November 25, 2015 Happy Thanksgiving. I have a governmental employer who had a money purchase plan that they converted to a profit sharing plan in 2012. Now they want to convert it back to a money purchase plans. Has anyone every seen this done? Thanks!!
DTH Posted November 26, 2015 Author Posted November 26, 2015 Hi Mike, It is not that it bothers me, it is just I have not seen it done before. I just want to make sure there aren't any issues other than more restrictions on distributions. Thanks!!
Carol V. Calhoun Posted November 30, 2015 Posted November 30, 2015 I don't see why it would be a problem, unless the changes became so frequent that they created an issue with the plan being "permanent." However, I'm curious why they would want to do this. For a governmental employer, what would be the advantage of having a money purchase plan? Employee benefits legal resource site The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.
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