Company has a plan begun in 2004 that they have decided will not be grandfathered. Q19© of 2005-1 seems to say that, if elected before 12/31/05, a participant can change his payment election from installments to lump sum before 12/31/05 without triggering a violation under 409A. Am I reading that correct?

Joe

That's what I'm interpreting it to say. I'm assuming that there may be some old provisions that are given up, but some new ones that can be added.