101-3, provide that the administrator of an individual account plan
is required to provide 30 days advance notice to participants and beneficiaries whose rights under the plan will be temporarily suspended, limited or restricted by a blackout period (i.
The DOL has also issued notice of a proposed class prohibited transaction exemption that would permit a "qualified termination administrator" (QTA) of an abandoned individual account plan
to select and pay fees to itself or to an affiliate for performing termination-related services to the plan.
While any individual account plan
can offer a variety of choices regarding contributions, investments, and withdrawals, the choice of whether or not to participate is fundamental to a voluntary approach.
District Court for the Southern District of Texas in 2001 is a 401(k) plan, an individual account plan
, called the "savings plan.
The share of lost benefits recoverable by workers under the individual account plan
depends on several factors, the most important of which is the rate of return.
This applies to any defined benefit plan or individual account plan
subject to minimum funding standards.
The Motion Picture Industry Pension Plan, the Motion Picture Industry Individual Account Plan
, and the Motion Picture Industry Health Plan are three separate multi-employer, multi-union, Taft-Hartley, labor/management trust funds governed by ERISA.
Here there is no question of forfeiture, but if the account is part of an individual account plan
and not used up by the end of the year, it must be allocated to participants' accounts in accordance with Internal Revenue Service (IRS) rules that prohibit unallocated funds.
Regulations under ERISA Section 404(c) state that where a participant or beneficiary exercises control over the assets in his individual account in an individual account plan
Investment designation by participants (earmarking) is not available in a cash balance plan, because the plan is not technically an individual account plan
under ERISA section 404(c).
404(c) plan is an individual account plan
(generally a profit-sharing, Sec.
The bad news: Using an acceptable method of determining substantially equal periodic payments, which are fixed in amount, may cause an individual's assets in an individual account plan
or an IRA to be exhausted.