1. What is the deadline for amending a plan to provide for non-spouse rollovers assuming, of course, that the plan does want to offer them?
2. Is it possible to "retroactively" amend a calendar year plan NOW to permit this option for 2008 and ongoing?
The plan is a 1-person plan and the participant died last year, so there are no "discrimination" type issues to consider. Seems low risk to me, but I would appreciate any insights.
Thanks, folks!
Full Version: Amending Plan for Non-Spouse Rollover
I'm not an attorney or TPA, but it is my understanding that you are permitted to amend, before the end of the 2009 plan year, to provide for nonspouse rollovers going back to the time when they were optional, which was January 1, 2007. These provisions are required for distributions on and after January 1, 2010. Some of the PPA amendments I've seen offer this option.
QUOTE (Trekker @ Jun 9 2009, 02:35 PM) 
I'm not an attorney or TPA, but it is my understanding that you are permitted to amend, before the end of the 2009 plan year, to provide for nonspouse rollovers going back to the time when they were optional, which was January 1, 2007. These provisions are required for distributions on and after January 1, 2010. Some of the PPA amendments I've seen offer this option.
Thank you! That was our understanding as well, so we will proceed in this manner.
Appreciate your response.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.