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Plan Amendments: Procedures, Timing, Cutbacks & Other Issues
Presentor: Stephen Forbes Recorded Date: 4/2/2013 Duration: 100 Min.

NOTICE: Are you a 401(k) Plan Workshop attendee?
If so, you receive complimentary access to the recording* of either this Web seminar or VCP Under EPCRS 2013: Step-by-Step. Click here for details.
*Due to the inability to track participation, no CE letter is provided for recorded programs. ****************************************************************
Plan Amendments: Procedures, Timing, Cutbacks & Other Issues
This program was recorded during a live presentation on April 2, 2013.

As sure as night follows day, plan amendments follow plan adoption. An important and necessary reality of plan administration is the need for constant plan amendments. Congress is constantly tinkering with the Code and ERISA necessitating plan amendments. The IRS and DOL also frequently feel the need to make changes that require plan amendments. Of course, the plan sponsor often feels the need to make 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. In addition, the speaker discusses the specifics of how to amend preapproved documents (prototype and volume submitter). Other issues that will be explained are anticutback considerations, notice requirements, deadlines and the various interim amendments required by Congress. Finally, we explain the requirement for amendments when terminating the plan. If you work with retirement plan documents, this is one Web seminar you will need to attend.

Topics include:

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

Level: Intermediate

Instructional Delivery Method: Group – Internet-Based

Speaker - Stephen W. Forbes, J.D., LL.M.
Author of The Form 5500 Filing Guide

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. Determine 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. Identify the deadlines for different types of amendments
  8. Determine which amendments can be made to a safe harbor 401(k) plan

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: