To read more detailed information on any of these issues, click on the appropriate plan type. Amending Your Plan Timely One of the most common issues found with regard to the plan document is that the sponsor does not timely adopt amendments to comply with the current law. As Congress passes new legislation, the sponsors are given an allotted time to make and execute the amendments required by the new law. The failure to do so results in disqualification of the plan. In 403(b) plans, the same concept applies to annuity contracts. Defined Benefit Plans SIMPLE IRA Plans SARSEPs Voluntary Correction Following the Terms of the Plan Another issue involving the plan is that administrators do not always follow the plan terms when performing their duties. Errors in this category can occur in employee eligibility, vesting, contributions and other issues covered in the Trends and Tips Applicable Issues. This also applies to contracts used in IRC 457 plans and participation agreements in Multiemployer plans. Multiemployer plan examinations also have found that various written documents (participation agreements, collective-bargaining agreements, etc.) have not been changed when the plan is amended. Other Trends Other trends in this area involve SIMPLE IRA plans, where there is a prohibition of maintaining more than one plan and 401(k) plans containing improper language in safe harbor arrangements.