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Master and Prototype Plan Sponsors - Responsibilities and Tips - Tip #1

1) Keep plan amendments and plan restatements

Tip

Potential Concerns

Encourage adopting employers to keep plan amendments and plan restatements  

  • Adopting employer is merging and needs documentation
  • Adopting employer wants to terminate the plan and needs documentation
  • Adopting employer needs plan documents for a due diligence review
  • Adopting employer needs plan documents to file for a Determination Letter

Adopting employers should keep a copy of all their plan documents. Emphasize the need for employers to keep their current and future plan documents together and accessible by filing them in one place.

Employers can also include plan administrative procedures (for example, your contact information, loan procedures, hardship procedures and what to do when a new employee is hired) with the plan documents.

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Page Last Reviewed or Updated: 13-Mar-2014