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SHRM Online Quotes Ann Caresani on Preapproved Retirement Plans

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Tick tock: April 30, 2016 is the deadline for restatement of many retirement plans. If you maintain a defined contribution plan that was preapproved by the IRS and adopted before January 1, 2016, and you haven’t signed (or even seen) your restatement, you need to check with your document provider

If you maintain a plan and don’t know whether it falls within this category, we encourage you to ask the question. 

On April 13, Ann Caresani was quoted in “Deadline for Updating Preapproved Retirement Plans Draws Near,” published on SHRM Online, regarding preapproved retirement plans and the importance of reviewing restatement documents carefully.

“They need to review these documents, preferably with the assistance of an employee benefits attorney, to try to make certain that they understand all the plan provisions, that the provisions are consistent with their actual practices and that any protected benefits have been preserved”

Read the article here.

Category: 401(k) Plans