light
May 26 1999, 04:57 PM
I have an employer, the sole trustee, who wants to have successor trustees to the plan -- he wants to do this by corporate resolution. This is new to me -- has anyone ever heard of using successor trustees on a QRP? Thanks.
Fredman
May 26 1999, 05:23 PM
Sounds legit to me. One of the services that we offer is corporate trustee. We are trustee for most of the plans we administer.
Whenever we become trustee or when we are removed as trustee its accomplished with a corporate resolution.
Dan
May 27 1999, 11:03 AM
The plan document should address this issue. If it does not, then he probably may not change to any successor trustees.
With that said, all of the prototype documents I have ever worked with have dealt with this question, directly.
Read the document.
pax
May 27 1999, 02:23 PM
In addition to reading the document (always good advice), consider amending the document if it does not seem to be as flexible as you desire.
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