"Our client currently has a money purchase plan. They no longer want the money purchase plan and want to replace it with a 403(b) plan. Would it be considered a merger? Or do we have to terminate the MP plan? Are there any special considerations when doing this?"

"What websites do folks prefer to use when looking up actual text of code and regulations? Last year my preferred one became Bloomberg because it included the full cite on each line and I did not need to scroll up to figure out if it was (k)(9)(ii) or whatever. But that seems to have gone away. At least it doesn't display for me. Does anyone else use a free website that has that particular formatting?"

"I have a question as to whether this spin off 401k plan is grandfathered or not for purposes of the mandatory automatic enrollment. Plan adopted a PEO on 2/1/2023. Plan spins out into its own single employer plan on 1/1/24. Is the plan required to adopt the mandatory AE provision under Section 101 of SECURE 2.0?"

"On Jan 1, 2024 we implemented a loan policy that allows a loan on the amount of 50% of vested balance not to exceed $50k. When our recordkeeper updated the system to reflect the new loan policy, they did not include the 50% of vested balance part. We had 12 employees in 2024 take out loans in excess of the 50% of their vested balance. Some loans were 90% or more of the vested balance. This is 100% fault of the recordkeeper as they have admitted. What recourse do we have against the recordkeeper? What options for corrections do we have. The recordkeeper showed us one option where the participant will have 60 days to pay back the excess or it will deemed a distribution. Has anyone else experienced this type of failure?"

"Two related companies filed their MEP 401(k) plan's single 5500-SF annually over many years. The common ownership ended, and the MEP split into two separate plans effective March 31, 2024. I am trying to understand how to handle the 2024 5500-SF reporting for one of the companies -- the one that became my client just recently. Was a short plan year filing due for the MEP? I do not think one was done. Can either company file a full year 5500 for 2024? What should be considered in order to make these determinations?"