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What to do with overfunded solo defined benefit plan

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  • What to do with overfunded solo defined benefit plan

    I have a solo defined benefit plan which is currently overfunded. I am planning to retire or semi-retire in 3 years at age 55 and the current value of the account is already over the lump sum allowed value in next 3-5 years. I stopped further contribution since last year and am trying to keep more conservative investment assets in the portfolio. But still it is likely I will get very heavy tax (up to 90% on excess assets) when I terminate the plan. I know I can probably set up a qualified replacement plan to transfer some excess assets then. Have anybody done that before? Any other suggestions?
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