Category Archives: Cycle 3 Restatements

Subscribe to Cycle 3 Restatements RSS Feed

IRS now requires an employer discretionary match to be “definitely determinable”

“Definitely Determinable” is one of those pre-ERISA concepts that are still applicable. It means that in order for a retirement plan to be considered “qualified” (eligible for favorable tax treatment), a participant’s retirement benefit had to be determined in accordance with a stipulated formula that is not subject to the discretion of the employer. The … Continue Reading

The IRS Required Restatement of 401(k) and Profit Sharing Plans: A Plain Language Explanation in Q & A Format

If you’re an employer who has adopted an IRS pre-approved defined contribution plan such as 401(k) or profit-sharing, you’ll need to have the Compliant box checked no later than July 31, 2022. Plan document compliance to be specific. It’s the IRS requirement that a retirement plan document must be up to date to qualify for … Continue Reading
LexBlog