Mid-Year Amendment to Waiver of Allocation Conditions

[Spodie]

Facts: 401(k) non-safe harbor plan with allocation conditions of 1,000 hours and last day w/waiver of those conditions for Death, Disability and Retirement. Plan Year is 10/01.

Question: Can I remove the waiver of the service and last day requirement for Retirement mid-year?

I'm thinking no, because even if an employee hasn't retired yet and does in the future; he/she would have already earned the benefit.

I'm I over thinking this?

Thank you,

Spodie

[Bird]

I say you can remove it. If you can't because someone might retire, then you couldn't ever because someone might work 1000 hours, or might be employed on the last day of the year.

Are they entitled to anything on the day the amendment is adopted? That's what matters.