Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Bates & Company, Inc.
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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What's Safe to Change Mid-Year in Your Safe Harbor Plan?
Drinker Biddle [Guidance Overview] Feb. 16, 2016 "Mid-year plan amendments that require updated safe harbor notices and election opportunities: [1] An amendment to increase the amount of nonelective contributions; [2] An amendment to permit in-service withdrawals at age 59-1/2; and [3] An amendment to permit installments as a form of distribution. Mid-year plan amendments that are prohibited: [1] An amendment to change from a QACA safe harbor plan to a traditional safe harbor plan; [2] An amendment to change from immediate vesting to two-year cliff vesting in a QACA safe harbor plan; and [3] An amendment to add discretionary matching contributions to a plan that is adopted on the last day of a plan year." |
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