Cynchbeast Posted November 24, 2019 Posted November 24, 2019 We took over a plan from another TPA who had done a PPA restatement effective 2015. The restatement was COMPLETELY wrong (some of the terms didn't even make sense). All valuations from 2015 on have been done consistently as I expect the prior TPA intended, but not in compliance with the restated documents. At this point, what is the best way to proceed? We need documents that agree with the valuations. Is there a good way for us to correct this situation or do we have to use one of the EPCRS programs?
C. B. Zeller Posted November 25, 2019 Posted November 25, 2019 Sounds like VCP to me. Good luck. Luke Bailey 1 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
Luke Bailey Posted November 25, 2019 Posted November 25, 2019 I agree with C.B. Zeller. You want IRS to allow you to amend plan retroactively. If it does nothing to reduce benefits of rank and file, they will probably give it to you. Obviously insufficient facts given to know. 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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