kmhaab Posted January 7, 2019 Posted January 7, 2019 Is it a plan failure requiring correction if the wrong Trustee was named in the plan document? Adoption Agreement lists the Board of Directors of the plan sponsor as the Trustee, but they actually hired a corporate Trustee several years ago. There is a trust agreement in place naming the corporate trustee. The Adoption Agreement explicitly states that a plan amendment is not necessary to change the information in Trustee section of the agreement.
Lou S. Posted January 7, 2019 Posted January 7, 2019 Maybe I'm confused but is it possible the new trust agreement was simply a plan amendment? If that's the case you probably have a late SMM if the participants haven't been notified of the change.
kmhaab Posted January 8, 2019 Author Posted January 8, 2019 You're confused, I think I was overanalyzing the issue. But after further research, I agree with you on the late SMM. Thanks!
kmhaab Posted January 11, 2019 Author Posted January 11, 2019 Lou, I meant you were NOT confused above! Thank you for your input.
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