"Checking a PBGC termination for a CB plan -- official termination date is late August 2026.. There are a few participants missing but their balances are less than 7k. Some are as low as $500 Plan just got amended to increase the force-out to 7k. If the participants cannot be located, PBGC will take over their balances as lump sum since no annuities, correct? Instead of PBGC taking over, can the balances be transferred to an IRA thru a company like Penchecks? If yes, is this subject to PBGC approval?"

"A plan has life insurance contracts, mostly whole life, with very sizeable cash values. A participant that is well beyond RMD age is planning to retire this year. To date, no portion of the Life insurance has been swapped out. Participant will continue to do some consulting and have continuing 1099 income. Financial advisor wants to pitch the idea of rolling over the life insurance policy in-kind into a solo-K for the participant (along with the other plan assets), so that life insurance policy can continue. It is my understanding that life insurance can be rolled over in-kind as long as the distributing plan allows (which is does) and the new plan allows for life insurance (it will be drafted as such). It is also my understanding that rollovers do not count toward the incidental benefits test, so the plan would not violate this if the premiums are being paid from rollover funds. Is this correct? ...

"What happens with the 40 years of PS 58 costs that have accumulated to date under the original plan? Going forward the premiums will be paid by employee (pre-tax rollover) contributions, would these be includable in income (would he still need a 1099 for PS 58 costs each year?) He has sufficient assets (if he rolls over his other funds) to take his annual RMDs from those assets. What pitfalls do you see with this plan? How does he get ultimately get these policies out of the plan into his personal ownership? Can partial swap outs be made?"