coverting participant directed plan to trustee directed

[Scuba 401]

can anyone think of what type of notice, if any, would be required to give to participants.

[MoJo]

...a carefully worded one....

That said, "legally" the only requirement would be an SMM (if it is a plan change) or a notice (if an administrative one).

Practically, it's probably going to be perceived as a "take away" at least by some, so justification for the decision should be included (studies show.... best interests of the participants.... fiduciary responsibility....)

[My 2 cents]

With an emphasis on "fiduciary responsibility", since after the change the plan sponsor would have sole responsibility for choosing the allocation of assets among the various investments!