PS Posted January 18, 2019 Posted January 18, 2019 What is a controlled group? and when a plan be considered a part of the controlled group? also can a plan which part of the control group Terminate?
mming Posted January 18, 2019 Posted January 18, 2019 There are quite a few details involved in answering your questions - the best approach may be to refer to IRC sections 414(b) and 414(c), with definitions found in IRC section 1563(a).
ESOP Guy Posted January 18, 2019 Posted January 18, 2019 Also, there are companies that offer 1 or 2 day ERISA basic classes that would cover controlled groups. hr for me 1
PS Posted January 18, 2019 Author Posted January 18, 2019 I have a terminating plan which I believe is part of a controlled group. The company had a 401k plan and 4-5 years back there was a spin off and some participants were moved to the subsidiary company and set up another 401K plan. now they have decided to terminate the subsidiary company 401K plan, can this be part of the controlled group? if its a controlled group I believe they will not be able to terminate the plan but just do a plan-to-plan rollover. will this be appropriate? Also one participant has rolled over the loan from the terminating plan to the parent company.
Luke Bailey Posted January 18, 2019 Posted January 18, 2019 As many here will point out, you need to get hold of a copy of Derrin Watson's "Who's the Employer." I think current ed'n is 6th. Just Google that. hr for me 1 Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034
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