Amend to allow in-service for age 45 + 10 YOP

Client wants to amend to allow in-service distributions at age 45 + 10 years of participation from reg match and ps.  The document is PPD VS 401k document, and while I could do those two options separately, I would need to use the describe line to actually get the combo of those two.  Would you have any concerns about adding this type of provision?  Other than it being a bad idea in general to take your retirement funds at age 45.

I don't think it's a problem from legal standpoint. Our Corbel Cycle 3 doc has a box that says something like "participant must meet all conditions if checked" so it's be easy to do right in the AA on our doc.

But it also has line for "Other" as long as it's definitely determinable and not subject to discretion and meets the general IRS rules you should be fine.

Ease of administering it or whether it's a good idea is a separate issue but from an allowable standpoint I don't see an issue. I mean it's got a defined age and participation condition that is more than 5. It might cause some odd results for those over age 59.5 or even an age 65 NRA who don't have the 10 years of participation and wouldn't be eligible for in-service.

Thanks @Lou S. that's why we were thinking of using the describe line.  So, leaving the 59 1/2 in-service for everyone and age 45 +  10 YOS for anyone wanting to take it out before 59 1/2.  That makes a good point that I would need to make that very clear in my description.  We use the PPD VS document and I don't see a similar box as the "participant must meet all conditions"

I seem to recall a problem with setting an early retirement age too soon---I've never worked with a plan that sets it that early in 47 years of practice---you might want to check with qualified ERISA counsel because something tells me it might not be kosher under a plan's definition as a retirement plan or profit-sharing plan.