Use of plan funds to pay sanction under correction program and attorne

[Guest Jae]

A client has an oerfunded DB plan. Part of the overfunding will be soaked up when they cover some controlled group employees which were, until now, not participating in the plan. When we correct using the SVC program, can you use plan assets to pay the use fee ahd the attorneys' fees. I can't find any prohibition, but I can't find anythnig in support of using plan funds either.

Thanks

[Kirk Maldonado]

I posed that specific question to the DOL via the ABA a couple of years ago, and the answer is no.