Trustee change via restatement

If A & B are the Trustees of a plan, and the plan is restated naming C & D as Trustees, does that have the legal effect of removing A & B as Trustees? Or is a separate formal removal required? I don't see that the document directly addresses this issue.

Same issue here. We just noted the new trustee in the new doc  and send a notice to our client to send to the old trustee, who is term'd, that he was removed .

We consulted with the legal counsel on our document provider about this. They said the plan still needs to provide notice to A & B, otherwise how would they know they are no longer Trustees? It's a formality and we use a notice that asks them to sign an acknowledgment, but also says it's effective 31 days after the notice regardless.

Great, thanks.

If you need samples, let me know.

What if A and B have terminated employment? Are they no longer Trustees, by default? They are not likely to sign something and return it. As a reminder, TPA's usually find out about this months after the termination.

Employees that take on the role of plan trustee and then terminate without communicating about the cessation of duties... deserve their fate? Maybe that's a bit harsh. But I think you know what I mean.

1 hour ago, msmith said:

What if A and B have terminated employment? Are they no longer Trustees, by default? They are not likely to sign something and return it. As a reminder, TPA's usually find out about this months after the termination.

As I mentioned, our notice has a "you're done 31 days after the notice" regardless of whether they sign. A provision like that should be in the trust agreement.

I like that idea, Bill. I have also had issues where the Trustee has died. So, he is not likely to be getting his mail or email anymore. Also, as the TPA, we are typically the last to know; and it is generally a couple of months (so more than 30 days).

I would think death would imply automatic resignation and no notice is required. Just documentation.

When we do amendments the software has an employer resolution template where they and both add and remove trustees.  In the adoption agreement, we just delete the old Ttees and add the new ones.

The memorialization (is that a word? I don't think so) comes in the resolution, not the plan doc.