Gardner Denver, Inc. Individual Account Retirement Plan for Bargaining Unit Employees at Quincy, Il Plan

Left in 2016, 2020? Worth asking about employer money

• In plan year 2016, active participants fell from 108 to 84 (22%), and 9 people left before they were fully vested. When a plan loses about 20% or more of its participants in a year, the IRS presumes a partial plan termination (Revenue Ruling 2007-43). Everyone who left in that period must then be fully vested in the employer's contributions. Filing
• In plan year 2020, active participants fell from 28 to 20 (29%), and 2 people left before they were fully vested. When a plan loses about 20% or more of its participants in a year, the IRS presumes a partial plan termination (Revenue Ruling 2007-43). Everyone who left in that period must then be fully vested in the employer's contributions. A 2021 law (Consolidated Appropriations Act, section 209) can excuse a drop between March 2020 and March 2021 if the plan had rehired enough people by March 31, 2021. Filing

This is a reason to ask the plan, not a finding. The plan decides, and it may show the drop was routine.

Check my years

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Check your years. We show whether the plan merged or moved money while you were there, and draft the letter to the plan that holds it now.

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