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Final Exiting Regulations: Birth of the 'Maybe Not' Notice
Presentor: Derrin Watson Recorded Date: 11/26/2013 Duration: 60 Min.

STOP! If you attended or are registered for BOTH of the January 2014 half-day seminars, watch your email for a discount code to register free for this web seminar. It will be emailed in early January. Discount code must be entered when you register (sorry, it cannot be applied after you register). If you have questions, please send an email to

This program was recorded during a live presentation on November 26, 2013.

The IRS has just released final regulations on the ability of an employer to suspend or reduce (exit) safe harbor plans midyear. Essentially, beginning now, an employer can exit a safe harbor nonelective only if (1) the employer is operating at an economic loss, or (2) the annual safe harbor notice (given before the beginning of the year) includes a statement that the employer reserves the right to amend the plan to exit safe harbor contributions midyear, but the amendment will not be effective sooner than 30 days after participants receive a supplemental notice. We are calling this statement a “maybe not” notice. These rules will also apply to safe harbor match plans after 2014. Join us for a special one hour web seminar discussing these new regulations and what they mean for safe harbor plans. We are scheduling it quickly so that employers can include a maybe not notice with their 2014 safe harbor notices to preserve their right to exit midyear without regard to the employer’s financial condition.

Topics include:
  • A review of the exiting rules
  • Conditions for exiting under the new regulations
  • What needs to be in the maybe not notice
  • What plans should include the maybe not notice
  • Treasury comments and clarifications
  • Effective date concerns
  • The effect of the new final regulations on other safe harbor plan midyear amendments
In addition, we will provide copies of revised safe harbor forms, including the maybe not notice, to attendees. Prerequisites: There are no prerequuisites or advance preparation for this program. The speaker will assume attendees are familiar with the operation of safe harbor 401(k) plans.

Level: Intermediate.

Instructional Delivery Method
Group - Internet-Based

Speaker: S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending this presentation, attendees should be able to:
  1. Determine whether an employer qualifies to exit safe harbor contributions midyear
  2. List the steps an employer must follow to exit midyear
  3. Provide a maybe not notice when appropriate
  4. Explain the other clarifications and modifications in the new final regulations

Hardware System Requirements:

  • Windows 95, 98, NT 4.0, 2000, XP, Windows 7
  • Internet Explorer 4.01 or later, Netscape 4.08 or later, and set Internet browser to allow pop-up windows.
  • High-speed Internet connection.
  • Pentium 166+ MHz, 128MB RAM or more.
  • 1023 x 768 or higher display resolution.
  • Soundcard and Speakers.

Software Requirements:

Program related requests, questions, or concerns may be emailed to: