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Posted

 

Update - the information I was given that led to this post was mostly all incorrect, so I'm deleting it so people don't waste there time. My apologies.

Posted

The transition period doesn't change plan provisions. Many (most? all?) pre-approved plans exclude from the definition of eligible employee those associated with a transaction until expiration of the transition period or, if earlier, an amendment to include them. Does the plan have such language and if so, does it give you ability to wait until 1/1/2024 to amend w/o potentially including someone you shouldn't (Canadian resident citizen)? 

Kenneth M. Prell, CEBS, ERPA

Vice President, BPAS Actuarial & Pension Services

kprell@bpas.com

Posted

Thanks. It turns out I was provided with a whole lot of incorrect information - after receiving the correct information, all of the above is negated. But, thanks for the reminder about the pre-approved language!

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