pensionam Posted Monday at 10:53 PM Posted Monday at 10:53 PM Hi! I have a PBGC covered plan where the owner took an impermissible withdrawal of $250k from the plan in June 2025. To correct, he returned the funds to the plan in February 2026 but with no earnings adjustment. Are earnings required? He wants to self correct and include a memo in the plan's files.
Bri Posted yesterday at 01:32 PM Posted yesterday at 01:32 PM I'd be treating this as a short-term impermissible loan and expect the appropriate interest returned to the plan as well to fully correct it as a prohibited transaction.
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