Nova 401(k) Associates
Retirement Plan Solutions, Inc.
Defined Contributions Consultant
Plan Design Consultants, Inc.
Healthcare Actuarial Consultant
Retirement Plan Sales Consultant
IUOE Local No. 478 Employee Benefit Funds
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|Cutoff Date of Cycle 3 Amendments for Terminating Plans|
BenefitsLink Message Boards
Aug. 24, 2021
"I am unclear about the cutoff date for needing to do the Cycle 3 for DC plans. We have numerous plans that were terminated by resolution/amendment but are slow in distributing all the assets. If assets are remaining as of 7-22-2020, does such a plan need to be restated? I have some situations where the client didn't want to file for the closing letter.
On the DB side, I believe the cycle won't start for another 2 years and lingering assets now won't be a problem. Also, my sponsor is FIS -- I wonder if I am getting a bad deal of $250/month? What are others using?"
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