john garigliano Posted May 30 Posted May 30 The client started a 401(k) plan in 2022, but did not terminate the DB plan until 2024. Can excess assets be made to the 401(k) started in 2022, or do I have to start a new 401(k) plan within 12 months of the last distribution?
CuseFan Posted May 30 Posted May 30 A Qualified Replacement Plan (QRP) need not be a new plan, it can be an existing plan. Bill Presson 1 Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
david rigby Posted May 30 Posted May 30 7 minutes ago, CuseFan said: A Qualified Replacement Plan (QRP) need not be a new plan; it can be an existing plan. Correct, but I'm a bit concerned that something else is behind the original question. Any more details? What are you trying to accomplish? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now