Frequently Asked Questions

    • How do I terminate my plan?

      There is a process to follow in terminating your plan, including adoption of amendments and possibly submitting to government agencies. We will calculate your benefit under the plan and assist you in preparing final filings that you will submit. Depending on how much money you have accumulated, you may have an excess or a shortfall to fund before your plan is terminated. Read more about Terminating Your Plan

    • How do I take money out of my plan at retirement?

      Generally, clients will terminate the plan and roll the assets into an IRA where they continue to grow tax-deferred until withdrawn.

    • Do I have to retire on the plan’s specified retirement date (year)?

      No. The plan’s retirement date is one of the provisions used to determine the amount of money you must contribute each year. You may be able to amend your plan to change the retirement date. Let us know as soon as possible so we can make the appropriate amendments.

    • What happens if I quit working before my plan’s retirement date?

      That’s fine. Your plan can be terminated at any time and the value of your benefit rolled over to an Individual Retirement Account (IRA). Early planning is always helpful, so inform us as early as possible if you intend to stop working before the plan’s retirement date.

    • When can I terminate the plan?

      You can stop the plan at any age and roll the value of your benefit over to an IRA. Routinely, however, a plan is expected to be maintained at least five years and the earliest retirement date is age 62.

    • How do I terminate my plan?

      There is a process to follow in terminating your plan, including adoption of amendments and possibly submitting to government agencies. We will calculate your benefit under the plan and assist you in preparing final filings that you will submit. Depending on how much money you have accumulated, you may have an excess or a shortfall to fund before your plan is terminated. Read more about Terminating Your Plan

    • How do I take money out of my plan at retirement?

      Generally, clients will terminate the plan and roll the assets into an IRA where they continue to grow tax-deferred until withdrawn.

    • Do I have to retire on the plan’s specified retirement date (year)?

      No. The plan’s retirement date is one of the provisions used to determine the amount of money you must contribute each year. You may be able to amend your plan to change the retirement date. Let us know as soon as possible so we can make the appropriate amendments.

    • What happens if I quit working before my plan’s retirement date?

      That’s fine. Your plan can be terminated at any time and the value of your benefit rolled over to an Individual Retirement Account (IRA). Early planning is always helpful, so inform us as early as possible if you intend to stop working before the plan’s retirement date.

    • When can I terminate the plan?

      You can stop the plan at any age and roll the value of your benefit over to an IRA. Routinely, however, a plan is expected to be maintained at least five years and the earliest retirement date is age 62.

    • How do I terminate my plan?

      There is a process to follow in terminating your plan, including adoption of amendments and possibly submitting to government agencies. We will calculate your benefit under the plan and assist you in preparing final filings that you will submit. Depending on how much money you have accumulated, you may have an excess or a shortfall to fund before your plan is terminated. Read more about Terminating Your Plan

    • How do I take money out of my plan at retirement?

      Generally, clients will terminate the plan and roll the assets into an IRA where they continue to grow tax-deferred until withdrawn.

    • Do I have to retire on the plan’s specified retirement date (year)?

      No. The plan’s retirement date is one of the provisions used to determine the amount of money you must contribute each year. You may be able to amend your plan to change the retirement date. Let us know as soon as possible so we can make the appropriate amendments.

    • What happens if I quit working before my plan’s retirement date?

      That’s fine. Your plan can be terminated at any time and the value of your benefit rolled over to an Individual Retirement Account (IRA). Early planning is always helpful, so inform us as early as possible if you intend to stop working before the plan’s retirement date.

    • When can I terminate the plan?

      You can stop the plan at any age and roll the value of your benefit over to an IRA. Routinely, however, a plan is expected to be maintained at least five years and the earliest retirement date is age 62.

    • How do I terminate my plan?

      There is a process to follow in terminating your plan, including adoption of amendments and possibly submitting to government agencies. We will calculate your benefit under the plan and assist you in preparing final filings that you will submit. Depending on how much money you have accumulated, you may have an excess or a shortfall to fund before your plan is terminated. Read more about Terminating Your Plan

    • How do I take money out of my plan at retirement?

      Generally, clients will terminate the plan and roll the assets into an IRA where they continue to grow tax-deferred until withdrawn.

    • Do I have to retire on the plan’s specified retirement date (year)?

      No. The plan’s retirement date is one of the provisions used to determine the amount of money you must contribute each year. You may be able to amend your plan to change the retirement date. Let us know as soon as possible so we can make the appropriate amendments.

    • What happens if I quit working before my plan’s retirement date?

      That’s fine. Your plan can be terminated at any time and the value of your benefit rolled over to an Individual Retirement Account (IRA). Early planning is always helpful, so inform us as early as possible if you intend to stop working before the plan’s retirement date.

    • When can I terminate the plan?

      You can stop the plan at any age and roll the value of your benefit over to an IRA. Routinely, however, a plan is expected to be maintained at least five years and the earliest retirement date is age 62.

    • How do I terminate my plan?

      There is a process to follow in terminating your plan, including adoption of amendments and possibly submitting to government agencies. We will calculate your benefit under the plan and assist you in preparing final filings that you will submit. Depending on how much money you have accumulated, you may have an excess or a shortfall to fund before your plan is terminated. Read more about Terminating Your Plan

    • How do I take money out of my plan at retirement?

      Generally, clients will terminate the plan and roll the assets into an IRA where they continue to grow tax-deferred until withdrawn.

    • Do I have to retire on the plan’s specified retirement date (year)?

      No. The plan’s retirement date is one of the provisions used to determine the amount of money you must contribute each year. You may be able to amend your plan to change the retirement date. Let us know as soon as possible so we can make the appropriate amendments.

    • What happens if I quit working before my plan’s retirement date?

      That’s fine. Your plan can be terminated at any time and the value of your benefit rolled over to an Individual Retirement Account (IRA). Early planning is always helpful, so inform us as early as possible if you intend to stop working before the plan’s retirement date.

    • When can I terminate the plan?

      You can stop the plan at any age and roll the value of your benefit over to an IRA. Routinely, however, a plan is expected to be maintained at least five years and the earliest retirement date is age 62.

    • How do I terminate my plan?

      There is a process to follow in terminating your plan, including adoption of amendments and possibly submitting to government agencies. We will calculate your benefit under the plan and assist you in preparing final filings that you will submit. Depending on how much money you have accumulated, you may have an excess or a shortfall to fund before your plan is terminated. Read more about Terminating Your Plan

    • How do I take money out of my plan at retirement?

      Generally, clients will terminate the plan and roll the assets into an IRA where they continue to grow tax-deferred until withdrawn.

    • Do I have to retire on the plan’s specified retirement date (year)?

      No. The plan’s retirement date is one of the provisions used to determine the amount of money you must contribute each year. You may be able to amend your plan to change the retirement date. Let us know as soon as possible so we can make the appropriate amendments.

    • What happens if I quit working before my plan’s retirement date?

      That’s fine. Your plan can be terminated at any time and the value of your benefit rolled over to an Individual Retirement Account (IRA). Early planning is always helpful, so inform us as early as possible if you intend to stop working before the plan’s retirement date.

    • When can I terminate the plan?

      You can stop the plan at any age and roll the value of your benefit over to an IRA. Routinely, however, a plan is expected to be maintained at least five years and the earliest retirement date is age 62.

© 2023 Dedicated Defined Benefit Services, part of FuturePlan by Ascensus. All Rights Reserved.

OnePersonPlus is a registered trademark of Dedicated Defined Benefit Services.

  • Join us on Facebook
  • Tweet us on Twitter
  • Connect with us on LinkedIn

Estimate contribution and deduction with our DB calculator Try it now

Call: 866-269-2706