Retirement Plan Year-End Amendments and Operational Compliance
As we approach the end of 2021, it’s again time for sponsors of 401(a) and 403(b) plans to review their plan documents and plan operations to ensure compliance with increasingly complex qualification requirements. While there is no one-size-fits-all checklist, the following provides an overview of these requirements to help plan sponsors (1) determine the need to adopt plan amendments before year-end, (2) ensure operational compliance with changes in law, (3) evaluate the implications of potential future plan changes, and (4) take appropriate action/next steps.
Click here to read the full article.
Recent Posts
See AllThe Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) made several notable changes to the rules for safe harbor plans, that is, plans that are not subject to Actual Defe
The Department of Labor (“DOL”), Department of the Treasury (the “Treasury”), and Pension Benefit Guaranty Corporation (“PBGC”) (collectively, the “Agencies”) recently released a notice of proposed re
On July 26, 2021, the Department of Labor ( “DOL”) issued a brief set of Frequently Asked Questions (the “FAQs”) clarifying certain issues related to the interim final rule (the “IFR”) implementing th