jkharvey
Dec 4 2007, 12:55 PM
Plan had SH provisions for 2007. On 11/1/2007 they amend to remove the provisions as of 1/1/2008. Is a SH notice needed that actually tells the participants that no SH contribution is coming? The participants will receive the SMM related to the amendment. Would that need to be delivered to participants by the same time frame as the old SH notice?
Tom Poje
Dec 4 2007, 01:14 PM
no notice is required that I am aware of (since the plan is no longer safe harbor). the smm should be sufficient.
jkharvey
Dec 4 2007, 01:24 PM
Tom,
That is what I was thinking. What about timing of the SMM? Do you think it needs to be issued in the same time frame as the old SH notice? Again, I'm thinking not since this is no longer a SH plan.
J4FKBC
Dec 4 2007, 05:31 PM
According to the rules, they could just wait until July 28 to give out the SMM. However, from an Employer-Employee relationship standpoint, wouldn't you rather communicate this right away?
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