FIS Relius

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Plan Amendments: Procedures, Timing, Cutbacks & Other Issues

Plan amendments are a fact of life for any retirement plan. An important and necessary reality of plan administration is the need for plan amendments. Congress is often tinkers with the Code and ERISA, necessitating plan amendments. The IRS and DOL also frequently feel the need to make regulatory changes that require plan amendments. Of course, the plan sponsor often feels the need to make discretionary changes in plan provisions to reflect changes in the company’s and owner’s retirement goals.

This Web seminar covers:

• (1) the basic plan documentation requirements,
• (2) who can amend the plan (corporation, partnership and sole proprietorship), and
• (3) what actions are necessary to affect a plan document.

• Written plan requirement
• Disqualifying provisions
• Authority to amend the plan
• Necessary corporate actions for plan amendment
• Amendment procedures
• Amendment formats
• Deadlines
• Safe harbor 401(k) plan amendments
• Prototypes and volume submitters
• Anticutback rule considerations
• Terminating plan amendments
• Interim amendments

There are no prerequisites or other advanced preparation for this program. However, the speaker will assume that participants understand the fundamentals of plan operation.

NASBA Field of Study: Taxes

Objectives: After attending this Web seminar, an attendee should be able to:

1. Determine the proper procedures for amending a plan
2. Identify who can amend a plan
3. Explain which benefits are protected when amending
4. Identify the three corporate methods for amending a plan
5. Select the appropriate amendment format
6. Determine which amendments are required for qualification
7. Apply the deadlines for different types of amendments
8. Determine which amendments can be made to a safe harbor 401(k) plan

How to participate

You will need a phone (speakerphone, for multiple participants sharing the Primary registrant’s authorized connection) and Internet Access. The graphics presentation and illustrations will be viewed via the Primary registrant’s Web connection, while the speaker audio portion will be via the Primary registrant’s telephone. Important Note: The user registrant must be logged in via the internet for CE purposes. Select the "Fees" link on the right side menu of this page for more information about who is authorized to connect to the program, and for the cancellation/transfer policy.

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