Has anyone handled a profit sharing plan that had individual account where the employer/trustee decided to take over the investment direction and go to pooled accounting? Any comments?

Never had a Plan actually do it, but a few are considering it. Its allowed (see 1.411(d)-4, Q&A-1(d)). Whether or not it is wise really depends on the client.

Yes, been there, done that. What kind of comments would you like? It worked. The participants didn't particularly care. Client saves a bundle.

If done as a plan admendment it is a settlor decision, not a fiduciary decision.

Does anyone know what kind of notice has to go out to the participants? I do not think this falls under Sarbanes-Oxley since it is a discontinuance of directed investments. K

I agree that this does not require a Sarbanes-Oxley notice because it is a complete discontinuance of a pla provision not a suspension