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Plan Termination

A step-by-step approach to ending your plan

CARES Act Answers for Retirement Plan Sponsors and Entrepreneurs!

If you have questions about how the current state of financial markets and COVID-19 will impact your company sponsored retirement plan, we have answers. For updates from LRS on changing government policies that result in relief for company sponsored retirement plans, helpful tips, and resources for navigating your plan during these uncertain times:

COVID-19 FAQ

One of the steps to take before terminating your retirement plan is to make sure your plan document includes all legal changes your plan is required to follow as of the plan’s termination date.

Legal changes include:

  • Maintain the plan’s tax-favored status at termination; and
  • Ensure that distributions to participants are eligible for rollover to other qualified plans or IRAs.

 

Contact Leading Retirement Solutions prior to terminating your plan to ensure that your plan is up-to-date.

Let us design a plan to meet your company's goals

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