"Have a client who had to wind down his business, terminated the firm's PS/401(k) plan (5 people, if that matters) in 2020. Last distribution was made 2/19/2021 and a final form has been filed. This was not related to COVID. Business has started to come around, owner is in his 70's and one employee still works for him that was a participant in the terminated plan, age late 60's. Now they would like to adopt a Profit Sharing Plan for 2021. Assume no deferrals at least not for now. Would this violate the Successor Plan rule?"

"An individual claims he's due a pension benefit from Company A, which was acquired by Company B. Later we acquired Company B. The plan was terminated before we purchased Company B. We don't have any pension plan records. What obligations do we have to the individual?"

"This is an actual question I received from a client. I tried to explain that when a loan is taken, the funds are removed from the account and given in cash, so they cannot be invested in the plan because they aren't in the plan. They get reinvested according to the participant's allocation elections as they are repaid. He then asked why the loan balance was shown on a report as an asset of the plan, and I tried to explain that the loan balance was basically an account receivable at that point. After several additional exchanges, he asked for some regulatory information to support what I was saying. This left me at a loss, because this is such a basic concept that I cannot fathom there being any regulatory information about this. I even tried but couldn't find anything. Anyone have another way to try to explain it?"

"I know we are in the process of doing the Cycle 3 restatements for all non-volume submitter DC plans. When are restatements due for any DC non-volume submitter plans due?